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Last week, each of the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Department of Justice Antitrust Division (DOJ) revised how they will review bank mergers. Our FinancialServices and Antitrust teams highlight what banks considering mergers should know about the changes.
As we move into 2025, anticipation in the financialservices industry continues to build for a revitalized mergers and acquisitions (M&A) market. By: Venable LLP
The House FinancialServices Committee voted to include a provision in the 2025 budget reconciliation bill that would abolish the PCAOB. The proposal would reassign PCAOB functions to the SEC. By: Cooley LLP
Block, the Jack Dorsey-founded fintech company previously known as Square, has acquired Hifi, a music-focused fintech startup. The company declined to share deal terms. Hifi founder and CEO Damian Manning announced the news in a LinkedIn post yesterday.
Despite a cautious deal market and continuing economic and political uncertainty as 2024 began, Dechert remained active in the financialservices M&A sector. By: Dechert LLP
Spotlight on FinancialServices | Clients depend on Dinsmore to offer clear and concise counsel in the complex area of financialservices Columbus-based corporate partner Christian Gonzalez explains how our team’s multidisciplinary approach can meet the most complex demands, and offer training for those new to the financialservices industry.
LGT’s acquisition of abrdn Capital as well as abrdn Smaller Companies Income Trust & Shires Income merger) - Smaller deals—France replaces. Altor’s acquisition of Mandatum) - Medium-sized deals—UK retains its crown for consolidation activity (e.g., By: White & Case LLP
James Stevens, co-leader of Troutman Pepper Lockes FinancialServices Industry Group, was quoted in the March 5, 2025 Banking Dive article, FDIC Withdraws Merger Policy, Brokered Deposits Proposal.. By: Troutman Pepper Locke
Dealmaking in the global financialservices sector posted an uptick in activity during the first quarter of the year. This rebound is especially significant given the market headwinds the sector has faced over the past few years.
Leonard Lipsky and Carly Eisenberg Hoinacki from Sheppard Mullin’s Healthcare Team recently sat down with Nick Francia and Sarah Bothner of The Capital ESOP Group at UBS FinancialServices Inc., to explore the ins and outs of employee stock ownership plan (ESOP) transactions as a potential exit strategy for physician practices.
FairMoney, a digital bank based in Lagos and headquartered in Paris, is in discussions to acquire Umba, a credit-led digital bank providing payroll and financialservices to customers in Nigeria and Kenya, in a $20 million all-stock deal, sources tell TechCrunch.
The House FinancialServices Committee heard testimony on these bills in 2023, access my testimony on several of these bills. On March 5, 2024, the House will consider capital formation related legislation, H.R. This was originally introduced in April 2023 and reported out in July 2023. It is comprised of 19 separate bills.
March 25, 2024 (GLOBE NEWSWIRE) -- Provident FinancialServices, Inc. With these approvals, the only pending regulatory approval required to complete the merger is the approval of the Board of Governors of the Federal Reserve System. ISELIN, N.J. and OAK RIDGE, N.J.,
ZestMoney, the Goldman Sachs-backed Indian fintech startup once valued at $450 million, has sold itself to financialservices firm DMI Group, the two said late Wednesday, in a fire sale that caps 12 tumultuous months for the once-hot new-age lender.
Zomato, the Indian food delivery giant, has acquired the entertainment ticketing business of financialservices firm Paytm for $244.1 The acquisition, among the largest M&A deals among new-age Indian tech companies, includes Paytm’s ticketing services for movies, sports and events.
July 01, 2024 (GLOBE NEWSWIRE) -- Orrstown FinancialServices, Inc. NASDAQ: CVLY), the holding company for PeoplesBank, A Codorus Valley Company (“Codorus Valley”), today announced the successful completion of their previously announced merger of equals creating a premier Pennsylvania and Maryland community bank.
The UK financialservices regulators, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), have recently set out their final policy on the assessment of acquisitions and increases in control of PRA and FCA authorised firms. By: A&O Shearman
Join us for a new episode of FinancialServices Focus, with partner Lauren Pryor, co-lead of the FinancialServices Product Team, and Brad Peterson, a partner at the firms Chicago office and member of the Technology & IP Transactions practice.
July 25, 2024 (GLOBE NEWSWIRE) -- ChoiceOne FinancialServices, Inc. NASDAQ: COFS) (“ChoiceOne”), the parent company of ChoiceOne Bank, and Fentura Financial, Inc. SPARTA, Mich. and FENTON, Mich.,
On 14 November 2024, Chancellor Rachel Reeves delivered her inaugural Mansion House 2024 speech, announcing a collection of reforms designed to drive growth and competitiveness in the financialservices sector. By: Goodwin
UK & European FinancialServices M&A: Sector Trends H2 2023 | H1 2024 — Specialty Finance / Marketplace Lending - Consolidation fever grips non-bank lenders and banks alike—SME lending, revenue-based finance and PropFinance at its core. Current market: Marginal uptick in M&A activity. By: White & Case LLP
Following the turn of the new year, our UK Regulatory specialists have examined the key regulatory developments in 2025 impacting a range of UK and European firms within the financialservices sector. The key dates have been distilled by the Proskauer team in an easy to read timeline with our commentary. By: Proskauer Rose LLP
UK & European FinancialServices M&A: Sector Trends H2 2023 | H1 2024 — Consumer Finance - Current market: Inflexion point for UK & European consumer lending - We are seeing: Significant consolidation activity: -First-movers attempt to conquer their niches (e.g.,
March 25, 2024 (GLOBE NEWSWIRE) -- Provident FinancialServices, Inc. With these approvals, the only pending regulatory approval required to complete the merger is the approval of the Board of Governors of the Federal Reserve System. ISELIN, N.J. and OAK RIDGE, N.J.,
20, 2023 (GLOBE NEWSWIRE) -- Provident FinancialServices, Inc. Nasdaq: LBAI) (“Lakeland”), the parent company of Lakeland Bank, today announced that the two companies have agreed to extend their merger agreement to March 31, 2024, to provide additional time to obtain the required regulatory approvals. ISELIN, N.J.
20, 2023 (GLOBE NEWSWIRE) -- Provident FinancialServices, Inc. Nasdaq: LBAI) (“Lakeland”), the parent company of Lakeland Bank, today announced that the two companies have agreed to extend their merger agreement to March 31, 2024, to provide additional time to obtain the required regulatory approvals. ISELIN, N.J.
Specialist financialservices investor, Atlas Merchant Capital, is backing the merger, providing enough liquidity to support Panmure Liberum’s long-term strategic ambitions. The post Panmure Gordon and Liberum agree merger to create new investment banking giant in the UK appeared first on The TRADE.
UK & European FinancialServices M&A: Sector trends H2 2022 | H1 2023 — Fintech - Whilst many European start-ups have struggled to successfully execute funding rounds at valuation levels of yesteryear, more mature fintechs have pivoted to acquisitions and partnerships to fuel growth.
OTCQX: WAYN) ("Wayne"), the holding company of Wayne Savings Community Bank and Main Street FinancialServices Corp. WOOSTER, Ohio and WHEELING, W.Va., March 15, 2024 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. OTCPK: MSWV) ("Main Street"), the holding company of Main Street Bank Corp.,
The Roll-Up Strategy REVEALED - Watch Here About the Guest(s): Matt Duckworth is the CEO and founder of Rhapsodi, a financialservices firm based in Little Rock, Arkansas. Duckworth shares his unique journey from music composition to becoming a prominent figure in financialservices, focusing on the art and science of roll-ups.
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financialservices regulation. By: Proskauer Rose LLP
Join us for this episode of FinancialServices Focus, where Lauren Pryor, Eric Edwardson, Haukur Gudmundsson and Krista Cooley dive into considerations for MSR (Mortgage Servicing Rights) fund investments and outline the complexities of MSR fund investments, touching on market structures, licensing requirements, and acquisition strategies.
Deliver a burst of bright sunlight amidst storm clouds across the European financialservices M&A landscape. Service providers merge, acquire, partner and de-SPAC their way to scale, scope and new technology. By: White & Case LLP
April 11, 2024 (GLOBE NEWSWIRE) -- Provident FinancialServices, Inc. Nasdaq: LBAI) (“Lakeland”), the parent company of Lakeland Bank, today announced receipt of regulatory approval from the Board of Governors of the Federal Reserve System (the “Federal Reserve”) for Provident and Lakeland to complete their previously announced merger.
UK & European FinancialServices M&A: Sector trends H2 2022 | H1 2023 — Consumer Finance - Europe's consumer finance decacorns stumble as their valuations crumble. By: White & Case LLP
June 17, 2024 (GLOBE NEWSWIRE) -- Orrstown FinancialServices, Inc. SHIPPENSBURG, Pa. and YORK, Pa., Orrstown”) (NASDAQ: ORRF), the parent company of Orrstown Bank, and Codorus Valley Bancorp, Inc. The parties anticipate closing the transaction on July 1, 2024, subject to the satisfaction of customary closing conditions.
Gary focuses on deals in the healthcare, leveraged finance, financialservices, and real estate industries. Below is his conversation with Gary Grote, Managing Director at Bridgepoint Investment Banking, which focuses on capital raising and M&A advisory solutions.
UK & European FinancialServices M&A: Sector trends H2 2022 | H1 2023 — Banks - Top 3 drivers of UK and European bank M&A in the past 12 months: - Regional & domestic consolidation across Europe: >50 domestic bank consolidations, aside from those related to the Russia/Ukraine conflict -Russia/Ukraine conflict necessitates M&A solutions: (..)
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