The Federal Reserve today approved the acquisition of Hudson City Bancorp, Paramus, N.J., by the Buffalo, N.Y.-based M&T Bank Corporation.
On September 30, 2015, the Federal Reserve Board of Governors approved Hudson City’s $3.7 billion merger with M&T Bank. The merger is expected to close on November 1, 2015, pending approval by the New York State Department of Financial Services.
The Federal Reserve today announced that aggregate financial sector liabilities amounted to approximately $21.63 trillion, meaning that financial companies cannot combine unless their aggregate liabilities amount to less than $2.16 trillion.
What’s on the community bank CEO horizon? M&A, mobile payments, mortgages and more.
Customer retention rates dip after a bank merger, but the loss can be mitigated when the acquiring bank has higher customer engagement rates.
The OCC on Friday updated its website to improve access to information and public comments on applications for business combinations by national banks and thrifts, providing a single page from which to access applications and read and submit comments.
Eight percent of bank applications in the second half of 2014 — or 52 out of 629 — were withdrawn, according to the Federal Reserve’s latest semiannual report on application results released today.