It has been a great week at our Seattle office, but time for me to head back to Chicago. For those who may miss my daily Twitter posts, here’s a quick recap of the stories we’ve been following this week:
Mergers, Acquisitions – Expansion, Consolidation
- Bank mergers gaining steam, but the deals are still small http://on.wsj.com/W0qBQi 89% of deals since 2009 have been banks under $1B in assets
- Navy Federal Credit Union has big plans to expand at its Vienna headquarters http://bit.ly/1jdG9do
- First Midwest Bancorp, Inc. continues to expand in metro Chicago w/acquisition of Great Lakes Bank http://on.mktw.net/1tmTuVg
- Community bank mergers on the rise in NJ http://bit.ly/U0zaZA
- Merger of NC’s VantageSouth Bank & Yadkin Bank of Statesville marks beginning of the end of the VantageSouth brand http://bit.ly/1xLp4Ld
- Fond du Lac, WI’s American Bank to acquire InvestorsBank http://bit.ly/1n1nfBu
- Morgan Stanley CEO on the future of banking: of the 97,000 branches that exist, all but about 10,000 will disappear http://on.wsj.com/1zkI5Wr
- D.L. Evans Bank to acquire Idaho Banking Company assets http://bit.ly/U0weMx
- Lake Trust CU leaving Lansing, building nontraditional HQ in Brighton, MI for a culture of innovation & collaboration http://on.lsj.com/1r2B2wJ
- To merge or not to merge: for community banks, that is the question http://bit.ly/1mq3RlF NW Indiana had 51 community banks, now only 8
- The First Bancshares Inc. has completed its acquisition of Theodore, MS-based Bay Bank’s holding company http://bit.ly/TNnb14
- NJ’s Sun Bancorp will cut 242 jobs and close or consolidate almost a third of its branches http://bloom.bg/1osejaS
Marketing
- “You can’t succeed w/out a cohesive customer experience strategy across devices” –
@BankoftheWest‘s Jamie Armistead http://ubm.io/1jdGAo2 - Survey by
@TDBank_US shows 88% of U.S. Millennials (18-34) use digital banking http://read.bi/VTbwjg
Mobile
- Juniper Research study also shows much of demand for mobile banking is being spurred by consumers, rather than banks http://bit.ly/1jtybNy
- Mobile banking rises across the globe – on pace to surpass online banking by 2019 http://bit.ly/1n7ohfg
- Banking technology developer Fiserv demonstrated mobile banking via Google Glass & Samsung’s Gear smartwatches http://zd.net/1vVw5Gk
Industry News
- P2P
@LendingClub loans exceed $5B since inception, $1B last quarter alone, helping 362,000+ borrowers. IPO up next. http://bit.ly/1kDEc4W - Gold Rush to Digital Revolution: BofA &
@WellsFargo recognize data & analytics as core to their expansion and growth http://on.wsj.com/1mEc2fO
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That’s all for this week. If we missed an important story, drop me a note.
