Community banking
Community banking
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Banks' sales of insurance agencies for eye-popping multiples emerged as one 2023's notable trends. Though the bandwagon shows no sign of slowing, several prominent community banks appear to be holding on to their insurance operations.
December 29 -
The Pennsylvania bank has agreed to sell its Exchange Underwriters subsidiary to World Insurance Associates for $30.5 million, saying that the deal will help pad its capital and liquidity.
December 4 -
Proceeds from the sale provide the bank with "flexibility to evaluate and pursue various strategic initiatives to redeploy capital in support of our core banking business," Evans CEO David Nasca said.
November 8 -
The intersection of fintech and ag banking is still ripe for innovation. Banks and fintechs are looking for specialized solutions for their ag customers, from harvesting data to managing cash flow fluctuations.
May 25 -
High-net-worth clients with large policies borrow, on average, $500,000 to $800,000 to pay their premiums. Peapack-Gladstone predicts the product, which it launched this month, will be one of its top business lines within six years.
October 28 -
Some companies on SourceMedia’s Best Fintechs to Work For list offer their employees extra time off to live boldly.
February 24 -
The insurance giant said it would need to make a “significant additional investment” to gain scale and be competitive. It has hired an investment banker to help it unload deposits and loans.
May 7