Banks
Continue Consolidating
Trying to keep up with the
changes in banks is indeed a full-time job. Since ISOs are using both
large and small financial institutions for bankcard acquiring, as
well as offering agent bank relationships, we continue to watch this
evolution. By example, Mercantile Bancorp, Inc., is acquiring
Firstbank of Illinois (valued at $697 million) which will make
Mercantile the largest bank in Illinois.
Capital City Bank Group of
Tallahassee, Florida has purchased five offices of First Federal
Savings & Loan Association of Lakeland, Florida, for an
undisclosed amount.
Community First Bancshares,
Inc., based in Fargo North Dakota (don't sha no) has completed its
acquisition of 25 BankOne branches in Arizona, following the
acquisition of Republic National Bank.
And on another note, First
Alliance Corporation a consumer finance company in Irvine, California
announced that it terminated its application with the Office of
Thrift Supervision to acquire Standard Pacific Savings, F. A., a
Federally charted thrift in Newport Beach, California, placing
Standard Pacific bank in play.
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