Safra New York to buy Delta North Bankcorp

Safra New York Corp., the parent of the $9.5 billion-asset Safra National Bank of New York, has agreed to buy Delta North Bankcorp in New York, the holding company for Delta National Bank and Trust. Pending regulatory approval, the deal is scheduled to close by the first half of next year.

M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.

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Contributing Editor Paul Davis, founder of Bank Slate and director of market intelligence at Strategic Resource Management, has more than 20 years of experience following the banking industry. Prior to joining SRM, an advisory firm in Memphis, Tennessee, he was editor for community banking and M&A at American Banker. He has held leadership positions at SNL Financial, where he was news editor and senior bank reporter, and American City Business Journals. Paul joined American Banker in 2005, covering large banks during the financial crisis and the post-crisis recovery. Paul has been featured as a speaker at the Federal Reserve, the ABA and FIS Global, and he has been regularly quoted by American Banker, S&P Global Market Intelligence and Bank Director. He has a bachelor’s degree from the University of Virginia and an MBA from Wake Forest University.