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M&A - Banking Exchange
The New Jersey banks have announced a merger worth approximately $1.3 billion
Plus, several other M&A deals have been signed off by regulators
Plus: New York’s Gouverneur Bancorp to buy Citizens Bank of Cape Vincent; BankFirst acquires Mechanics Bank
Plus: New locations for Heartland Bank, WesBanco Bank, and Trustar Bank
HBT Financial and Town and Country Bank to combine, while Virginia’s TowneBank and Farmers Bank also plan a merger
The acquisition also allows Alerus to significantly expand its existing business segments
The transaction enables the firms to provide a unified set of banking solutions across several markets
Development comes amid intense scrutiny of credit unions’ M&A activity involving banks
Relocations to help capitalize and expand the market reach in promising regions
The transaction supports CrossFirst’s objective to enter into new markets
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