Articles Tagged with ''Community bank''

HomeStreet Bank moves to sell off almost entire mortgage business

Lender’s mortgage business has struggled recently
After struggling to keep up with the mortgage business’ new reality of lower refinance originations due to higher mortgage interest rates, HomeStreet Bank is plotting a mass exodus from the mortgage business. The bank announced Friday that it is planning to sell off its entire retail mortgage operation, which includes 72 home loan centers in five states.
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Arvest Bank to acquire Bear State Bank in $391 million deal

Deal brings together banks with branches in Southeast and Southwest
In a deal that will combine two Arkansas-based community banks, Bear State Financial, the parent company of Bear State Bank, and Arvest Bank announced Tuesday that Arvest will be acquiring Bear State in an all-cash deal valued at approximately $391 million.
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Movement Mortgage CEO launches Movement Bank

Will be owned and operated independently of Movement Mortgage
Movement Mortgage CEO and former NFL tight end Casey Crawford announced a new initiative outside of his lending company, revealing the launch of Movement Bank. On Tuesday, the CEO unveiled a complete rebranding of the former First State Bank in Danville, Virginia. But while Crawford is involved in both companies, he emphasized that the two are owned and operated independently of each other.
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Midwest community bank merger: First Financial buying MainSource for $1 billion

Combined bank will be sixth largest in Indiana
In a deal that will create one of largest community banks in the Midwest, First Financial Bancorp, the parent company of First Financial Bank, and MainSource Financial Group, the parent company of MainSource Bank, announced that they plan to merge. Based on First Financial’s closing price of $28.10 on July 25, 2017, the transaction is valued at approximately $1 billion.
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Banks petition Mnuchin for help in fighting new loan rule

Say it could make borrowing more expensive
A new rule from the Financial Accounting Standards Board is set to take effect in 2019, but some regional banks are fighting back. In fact, they even sent a letter to Treasury Secretary Steven Mnuchin, asking him to review the rule and explaining it could make borrowing more expensive.
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President Trump promises to lift regulations for community banks

Holds listening session with small banks across country
President Donald Trump held a listening session Thursday to hear from community banks about their struggles with regulations. He assured the bankers that a rollback in regulations is coming soon, and that community banks could soon hold a seat once again on the Federal Reserve Board.
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Why are there almost no new banks since the crisis?

Dallas Fed: Regulations are crushing community lenders
In the aftermath of the economic crisis of the late 2000s, the federal government passed a number of sweeping laws that irrevocably changed the financial landscape of this country, but just how much?
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Freddie Mac announces partnership with The Mortgage Collaborative

GSE to offer benefits to mortgage lending cooperative’s members
Freddie Mac announced a partnership with The Mortgage Collaborative, an independent mortgage lending network of small, mid-sized and community-based lenders, that will help the group’s members build better businesses and compete more effectively in today's dynamic mortgage market.
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