Company
Huntington Bancshares is a Columbus, Ohio-based regional bank holding company with about $284 billion in assets, operating via Huntington National Bank.
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
David Provost and Chip Reeves took control of Chicago's $3.7 billion-asset Parkway Bank, backed by a $350 million private placement. Their plan points a newly recapitalized lender at Chicago business borrowers now and leaves Midwest bank purchases for later.
Reality
American Banker's survey counts banks that have built a token rather than payments that have moved through one, and the deals it names so far reach one Thai bank and a loan network of 600 members.
Reality
The Cari Network is expected to be fully operational by the fourth quarter. Participating banks say the hard part is rebuilding liquidity and reconciliation controls built around a close of business.
Reality
Out-of-state buyers took Comerica, Veritex and Cadence, and Huntington went from zero Texas branches to 140 in a year. Incumbents from Frost down to a $55 million bank in Groom say they will bend on price.
Reality