The company will pay $42 million for Oak Park River Forest Bancshares.
The Connecticut company also reported modest loan growth and a greatly improved net interest margin.
Wells Fargo, Bank of America, Citigroup and other banks have joined forces with fintechs and data aggregators to create the Financial Data Exchange, which aims to resolve the fight over sharing customer information.
Commercial and industrial lending rose 8% in the third quarter at the Cleveland bank, but other factors drove its double-digit gain in profits as overall loan growth was modest.
The New York bank, which reported a 25% increase in third-quarter earnings Thursday, recently began serving digital-asset companies and private equity firms.
The North Carolina company reported slightly lower costs and a stable net interest margin in the third quarter.
The company said it is trying to improve shareholder returns as rising rates cut into its net interest margin.
No one knows for certain what the future will hold for the UK and the remaining EU countries post 29 March 2019 but in the context of cross-border insolvency we do know that if there is a no-deal Brexit, that the Recast Regulation on Insolvency Regulation (EU) 2015/848 will be repealed.
So, what does this mean for UK insolvencies with a cross-border element?
In simple terms a UK appointment taker will have to apply to the EU local Court for recognition of their appointment and cannot rely on the mutual recognition which currently exists under the EU Regulation. They may also have to seek the assistance of the EU local courts to enforce judgments and orders and negotiate with foreign office holders. The UNCITRAL Model Law on Cross-Border Insolvency may plug some of the gaps on mutual recognition, but not all.
What is clear is that the support and assistance of local lawyers is key to ensuring cross-border insolvencies are managed without additional cost, frustrations and delays and that assets are recovered and value maintained for creditors.
Where can we help?
Squire Patton Boggs has one of the largest, most experienced and respected global restructuring and insolvency practices of any law firm, with more than 130 experienced lawyers in 36 offices in 15 countries collaborating on domestic and cross-border restructuring matters.
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Privacy has been and most likely always will be desirable in many aspects of your life. It becomes especially desirable in times of struggle and can play a big part in the decisions you make to help yourself. When it comes to bankruptcy, many worry about how public the information from their possible bankruptcy is......
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