Latest news with #communitybank
Yahoo
17 hours ago
- Business
- Yahoo
Glacier Bancorp to buy Guaranty Bancshares in $476m deal
Glacier Bancorp is set to significantly expand its footprint in the Southwest with the acquisition of Guaranty Bancshares, the bank holding company for Guaranty Bank & Trust. The all-stock transaction marks Glacier's 27th bank acquisition since 2000 and is expected to close in the fourth quarter of 2025. Guaranty has 33 banking locations across 26 Texas communities situated within the East Texas, Dallas/Fort Worth, Houston and Central Texas regions of the state. Guaranty's assets, loans, and deposits are valued at $3.2bn, $2.1bn, and $2.7bn respectively as of 31 March 2025. The boards of both Glacier and Guaranty have unanimously approved the transaction, which is now pending regulatory and shareholder approvals. Guaranty shareholders are slated to receive one share of Glacier stock for each Guaranty share they hold, valuing the transaction at approximately $476.2m based on Glacier's recent stock price. Once the acquisition is completed, Guaranty Bank & Trust will become a new division within Glacier Bank. Glacier Bancorp president and CEO Randy Chesler said: 'Guaranty fits strategically and culturally within the unique Glacier business model and will allow us to enter a complementary state with an exceptional demographic profile, strong growth prospects, and a business-friendly operating environment. "This acquisition continues our long history of consistently adding high quality community banks to our proven banking model and we are very enthusiastic about the future opportunities this partnership will provide." Guaranty Bancshares chairman and CEO Ty Abston said: 'This partnership gives Guaranty added strength, with the support of a larger balance sheet and the resources to invest in the latest technologies and products to serve our existing and future customers.' "Glacier Bancorp to buy Guaranty Bancshares in $476m deal" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
a day ago
- Business
- Yahoo
Santander to sell 7 Pennsylvania branches to NY bank
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Santander has agreed to sell seven branch locations in the Allentown, Pennsylvania, area to Rochester, New York-based Community Bank, the lender said Wednesday. Community Bank expects to assume roughly $600 million in deposits and purchase nearly $33 million in branch-related loans. It will pay a deposit premium of 8%, or roughly $48 million, as cash consideration to Santander, the bank said in a press release. The transaction is expected to close in the fourth quarter. With the deal, $16 billion-asset Community Bank will expand its footprint in the Greater Lehigh Valley in Pennsylvania – adding branches in Allentown, Bethlehem, Coopersburg, Easton, Emmaus and Whitehall. That will bring its footprint in the valley to 12 locations. The acquired branches will remain open, while the employees will be retained, Community Bank noted. The acquirer expects the transaction to be 'slightly accretive to earnings,' it said. Additionally, Community Bank's subsidiary, Nottingham Investment Services, plans to purchase related wealth management relationships from Santander's affiliate, Santander Securities LLC, according to a Securities and Exchange Commission filing Wednesday. Meanwhile, Santander is looking to transform into a national 'digital-first' bank with branches. Santander opened its digital-native subsidiary, Openbank's first U.S. physical location in Miami last month. But it's also refining its branch footprint and retail presence Santander plans to close 18 of its 400 U.S. locations by August. The affected branches in the Northeast comprise 4.5% of the Spanish bank's roughly 400 U.S. locations. 'As we grow our presence nationally, we are making refinements to our physical presence to reposition and optimize our footprint for the future,' Swati Bhatia, Santander's head of retail banking and transformation and CEO for Openbank in the U.S., said in a statement. Bhatia noted that the Spanish bank is investing in its branches by rolling out new, state-of-the-art formats, like its latest flagship model. 'The investments we are making in both digital and physical will help ensure Santander is best positioned to deliver for our customers for years to come,' Batia added. Bhatia dubbed Community Bank a 'highly rated bank, known for its top-caliber customer service.' 'We enter into this agreement knowing that our valued, long-standing customers will be well taken care of, as we continue our transformation in the United States,' she said. Community Bank has nearly 200 customer facilities across upstate New York, northeastern Pennsylvania, Vermont and western Massachusetts. Recommended Reading UBS could cut 35K jobs by October: reports Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Dime Sponsors 10th New York City Small Business Challenge
HAUPPAUGE, N.Y., June 25, 2025 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (the 'Company' or 'Dime') (NASDAQ: DCOM), the parent company of Dime Community Bank (the 'Bank'), announced that the Bank, in partnership with 1010 WINS, hosted the Dime Community Bank $10K Small Business Challenge in Manhattan for the 10th consecutive year. This year's challenge saw a record number of applicants from across New York City competing for a $10,000 grant to support their new business growth. ABOUT DIME COMMUNITY BANCSHARES, INC. Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets and the number one deposit market share among community banks on Greater Long Island (1). Dime Community Bancshares, Relations Contact:Avinash ReddySenior Executive Vice President – Chief Financial OfficerPhone: 718-782-6200; Ext. 5909Email: ¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets. FORWARD-LOOKING STATEMENTSStatements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
3 days ago
- Business
- Associated Press
Carver Bancorp, Inc. Rings Nasdaq Opening Bell Celebrating Juneteenth, Elevating the Role of Community Banks in Serving Main Street
NEW YORK, June 24, 2025 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV), a community bank committed to meeting the financial needs of everyday New Yorkers, rang the Nasdaq Opening Bell on June 20, 2025, in celebration of Juneteenth. Carver's board members, employees, and community partners gathered to mark the occasion and reflect on the Bank's longstanding commitment to addressing barriers to financial access and its service to historically under-resourced communities. The event came a few weeks after Carver President and CEO Donald Felix participated in a roundtable discussion led by U.S. Treasury Secretary Scott Bessent in New York City. The conversation focused on how community banks—especially those designated as Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs)—can drive small business growth, promote household financial wellness, and anchor Main Street prosperity. During the Nasdaq ceremony, Carver President and CEO Donald Felix offered the following remarks: 'It's a tremendous honor to be here this morning at Nasdaq—here in New York City, the financial capital of the world—and especially meaningful to ring the Opening Bell in honor of Juneteenth. This day reminds us all of the strength, sacrifice, and progress woven into the fabric of the American story. This story belongs to all of us. As a day centered on the freedoms we all enjoy as Americans, it is also a day that calls on all to continue the work of expanding access and opportunity. Carver was founded in 1948 by visionary community leaders, both men and women, from Brooklyn and Harlem who understood the power of financial access and the freedoms that it creates. The everyday freedoms of owning a home, starting a business, and building up our communities. Our founders established a bank to serve those historically excluded from the financial system—a mission that remains just as critical today. At Carver, we have expanded on that mission, and today, we are dedicated to meeting the everyday banking needs of everyday New Yorkers who are working hard to get ahead. We continue to support the vitality of the neighborhoods we serve—delivering accessible financial services to individuals and small- to mid-sized businesses. We distinguish ourselves by reinvesting a majority of every deposit dollar back into the communities we serve, with an intentional focus on lending that creates jobs and drives local economic growth. We are proud to be recognized by the U.S. Department of the Treasury as a Community Development Financial Institution. Jointly, we understand the challenges and needs of rural and urban communities and how community banks serve as the backbone of America's middle class. As a first-generation American born in New York to immigrant parents, I am proud to lead an institution that has consistently supported under-resourced communities that strive everyday toward the American dream. I grew up living near, commuting past, and learning about Carver's branches. This bank's story is personal—and so is its future. In our 77th year, Carver isn't new to community banking, and while it takes work to continue the mission, we recognize it is too important not to and we are moving with the diligence, energy, and focus of a start-up. We are transforming to meet the evolving needs of our communities better—expanding our lending, investing in technology, and building a more sustainable path to profitability and impact. To our shareholders, employees, communities, partners, and regulators, thank you for supporting and standing with Carver. We're proud to be here—and we're just getting started!' Transforming a mission-driven community bank back to profitability and growth is hard work—but it's necessary work. When we do it well, our communities do well. Carver is committed to this path, knowing that to remain competitive and relevant, we must continue evolving—delivering trusted financial solutions that help everyday New Yorkers move forward. About Carver Bancorp, Inc. Carver Bancorp, Inc. (NASDAQ: CARV) is the holding company for Carver Federal Savings Bank, a Harlem-based community bank committed to meeting the financial needs of everyday New Yorkers who are working hard to get ahead and supporting the vitality of the neighborhoods it serves by delivering accessible financial services to individuals and small- to mid-sized businesses. Through its online banking platform and physical branches, Carver serves customers across nine states, from Massachusetts to Virginia, including Washington, D.C. Founded in 1948 to address barriers to financial access, Carver has a long-standing legacy of serving historically under-resourced communities. The U.S. Department of the Treasury has designated Carver as both a Community Development Financial Institution (CDFI) and a Minority Depository Institution (MDI) in recognition of its leadership in advancing financial inclusion and local economic empowerment. For further information, please visit the Company's website at Be sure to connect with Carver on Facebook, LinkedIn, and Instagram. Certain statements in this press release are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors, risks, and uncertainties. More information about these factors, risks, and uncertainties is contained in our filings with the Securities and Exchange Commission. Media: Michael Herley for Carver 203.308.1409 [email protected] Investors: [email protected] View original content to download multimedia: SOURCE Carver Bancorp, Inc.
Yahoo
6 days ago
- Business
- Yahoo
Best high-yield savings interest rates today, June 19, 2025 (top account pays 4.3% APY)
If you're looking to supercharge your savings, a high-yield savings account could provide an above-average return to help your balance grow faster. However, not all banks offer high savings account rates, which is why it's important to shop around and find the most competitive savings interest rates available. Read on to learn more about where to find the best savings interest rates today. Savings account rates have been trending down since last year, when the Federal Reserve began cutting the federal funds rate. The good news is that many high-yield savings accounts still offer rates of around 4% APY and up. The best rates are typically offered by online banks, although you may be able to find comparable savings interest rates at some credit unions and community banks. As of June 19, 2025, the highest savings account rate available from our partners is 4.3% APY. This rate is offered by Openbank and EverBank, but EverBank requires no minimum deposit whereas Openbank requires a minimum depost of $500. Here is a look at some of the best savings interest rates available today from our verified partners: This embedded content is not available in your region. Selecting a savings account with a competitive interest rate is important. The higher the rate, the faster your balance will grow over time. That said, the interest rate shouldn't be your only point of comparison. Other factors, such as fees, ATM locations, the bank's reputation, and more should also be considered. The best savings accounts offer a combination of high rates, low fees, accessibility, and an overall positive banking experience. Not sure where to start? Check out our ranking of the 10 best high-yield savings accounts available today. Following several years of near-zero interest rates, the Federal Reserve began raising the the federal funds rate in 2022 in order to combat rapidly rising inflation. As a result, savings interest rates skyrocketed, reaching a 15-year high. However, in late 2024, the Fed implemented a series of cuts to the federal funds rate, and savings account rates have started dropping. It's also expected that the Fed will implement more rate cuts in 2025. It's difficult to predict exactly how and when interest rates will change going forward, but one thing is for sure: Today's high savings account rates won't last forever. So, if you're hoping to give your savings a boost and take advantage of the best rates on the market, there's no better time than now. The requirements involved in opening a savings account vary by financial institution. However, if you're ready to open an account, you can follow these general steps: Research savings account rates: Of course, when choosing a savings account, one of the most important factors to evaluate are the interest rates. Be sure that you select a savings account with a competitive rate to help your money grow. Figure out your must-haves: Although savings account interest rates should be top of mind, that's not the only factor to consider. You'll also want to think about what else you need from your account, whether it's no minimum balance requirement, low fees, or other perks. Finding a savings account with a solid rate that also helps you achieve your goals is key. Prepare documentation: Opening a bank account requires you to provide a few important personal details and documents. Before you start your application, be sure you have your Social Security number, driver's license or passport number, and proof of address. Fill out the application: In many cases, you can apply for savings account online. However, some financial institutions may require you to visit the branch in person to apply. Either way, the application for a new savings account should only take a few minutes to complete. In many cases, you'll get your approval decision instantly. Fund your account: Once your savings account application is approved, you'll need to add funds to the account. Be sure you're aware of any minimum opening deposit requirements and timeline for funding. Read more: Step-by-step instructions for opening a high-yield savings account
