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Mergers & Acquisitions

Partnerships, Consolidation Are Essential for Financial Institutions Seeking M&A

Financial services firms seeking marketing leadership positions will need to explore M&A and partnership opportunities that create scale, leverage technology and create cost efficiencies, said Dan Avery and Jim Kearney, M&A and financial services leaders with Point B Inc., a management consulting, venture investment and real estate development firm based in Seattle, Wash.

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Indiana’s German American Bancorp to Acquire Citizens First in Kentucky

Jasper, Ind.-based German American Bancorp Inc. and Citizens First Corp. of Bowling Green, Ky., have entered into a definitive agreement to merge Citizens First in German American. Upon completion of the transaction, Citizens First’s subsidiary bank, Citizens First Bank Inc., will be merged into German American’s subsidiary, German American Bank.

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BancorpSouth Bank Announces Florida and Texas Acquisitions

Tupelo, Miss.-based BancorpSouth Bank announced definitive agreements to acquire Summit Financial Enterprises Inc., the parent company of Summmit Bank, N.A., in Panama City, Fla., and Van Alstyne Financial Corp., the parent company of Texas Star Bank in Van Alstyne, Texas. Pursuant to the agreement, the two banks will be merged into BancorpSouth Bank.

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The Next Big Thing?

BB&T-SunTrust may start a new merger wave.

By Bill Poquette

This is huge. BB&T and SunTrust, the 16th and 17th largest U.S. banks, are merging. The combined bank jumps to No. 8 after the four multi-trillion behemoths, then Goldman Sachs, Morgan Stanley and U.S. Bank.

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Wintrust Financial Corp. to Acquire Oak Bank

Wintrust Financial Corp., based on the Chicago suburb of Rosemont, Ill., announced a definitive agreement to acquire Rush-Oak Corp., the parent company of Oak Bank, which operates from a single location in the Gold Coast neighborhood of Chicago. As of Dec. 31, 2019, Oak Bank had approximately $196 million in assets, $143 million in loans and $158 million in deposits.

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