Company
Brean Capital is an investment bank providing equity research, M&A advisory, and capital markets services, focused on financial institutions.
TowneBank agreed to pay about $154 million for North Carolina's $628 million-asset BlueHarbor Bank, or 2.2 times tangible book. Set against BlueHarbor's earnings the price is far less rich, so much of the premium pays for profit as well as scarcity.
Reality
Peoples Bancorp agreed to buy Capital Bancorp for $728 million in stock, a deal that lifts it to $14.3 billion of assets, well past the $10 billion line. Capital's $3.2 billion of specialty deposits now have to pay for the debit-fee cap and heavier supervision that start at that size.
Reality
Thomas O'Brien is spending a discounted $98 million stock sale to clear $306 million of BCB Bancorp's worst credits in a single quarter, and the loss that produces runs to $136.1 million at the top end.
Reality
The forecast band is wide enough that one merger satisfies its low end, so the number a mid-size board should actually price is the approval calendar, which Davis Polk's Meg Tahyar says gets narrower in 2029.
Reality
A bank that once ran roughly 70 banking-as-a-service partnerships and drew regulatory trouble still cleared a nine-figure exit. The buyer accepted a 3.25-year earnback to get it.
Reality