Latest news with #CommunityBank
Globe and Mail
5 days ago
- Business
- Globe and Mail
German American Bank Awarded Raymond James Community Bankers Cup for 2024 Performance
German American Bank has been awarded the prestigious Raymond James Community Bankers Cup for its performance in 2024. This is the second consecutive year the Bank has earned this recognition for being one of the best performing banks in the nation, demonstrating its commitment to building long-term shareholder value. Only 21 community banks in the United States received this award. 'It's an honor for our German American Bank team to receive this recognition from Raymond James,' states Neil Dauby, Chairman and CEO. 'Our employees, customers, and communities are the heart of our success. Our employees strive daily to run a high performing operation, which strengthens our ability to serve our valued customers. This financial strength also allows us to continually invest in the local communities we serve.' The 2024 Raymond James Community Bankers Cup recognizes the top 10% of community banks with assets between $500 million and $10 billion as of December 31, 2024. The award is based on various profitability, operational efficiency, and balance sheet metrics. The pool of banks considered include all exchange-traded domestic banks, excluding mutual holding companies. Of the 202 community banks considered for the 2024 Community Bankers Cup, the top 10% demonstrated superior performance on key financial performance and stability metrics. About German American German American Bancorp, Inc. (Nasdaq: GABC) is a $8.3 billion financial holding company. Through its banking subsidiary, German American Bank, it provides a wide range of banking and wealth management services to businesses and individuals in 94 offices across central and southern Indiana; northern, central and western Kentucky; and central and southwest Ohio. In the Columbus Ohio and Greater Cincinnati markets, the Company does business as Heartland Bank, a division of German American Bank. The Company also owns an investment brokerage subsidiary, German American Investment Services, Inc.
Yahoo
28-06-2025
- Business
- Yahoo
Banco Santander's (SAN) US Unit Divesting Seven Branches to Focus on Digital Banking
Banco Santander, S.A. (NYSE:SAN) is . On June 25, the company's US subsidiary, Santander Bank, announced that it had reached an agreement to sell seven of its branches in the Pennsylvania area to Community Bank N.A. A successful financial advisor giving advice to a satisfied client in an office. The divestment is part of Santander Bank's push to become a digital-first bank. Additionally, the sale underscores Santander's conviction that its customers will continue to receive quality service from Community Bank. Consequently, the sale will enable the bank to refine its physical footprint as it enhances its digital operations nationwide. Launched in 2024, the bank's digital operations under the Openbank division have attracted over $4 billion in deposits and served more than 100,000 customers. Banco Santander, S.A. (NYSE:SAN) is a global financial institution that provides a wide range of financial products and services to individuals, businesses, and organizations. These include banking, lending, investment, and insurance products, as well as support for companies and communities. While we acknowledge the potential of SAN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Sign in to access your portfolio
Yahoo
26-06-2025
- Business
- Yahoo
Santander Bank to divest seven branches amid digital transformation
Santander Bank has signed an agreement to divest seven branches in Pennsylvania, the US, as it continues its transformation into a national, digital-first bank. The retail and commercial bank has agreed to sell the branches to Community Financial System's subsidiary Community Bank. The branches involved in the transaction are situated in Allentown, Bethlehem, Coopersburg, Easton, Emmaus and Whitehall. All the branches will remain open and both the firms are offering continued employment for all staff. The transaction does not include accounts of Openbank, which is Santander's digital bank that has accumulated more than $4bn in deposits and serves over 100,000 customers since its debut in late 2024. Santander Bank head of retail banking & transformation and CEO for Openbank in the US Swati Bhatia said: 'As we grow our presence nationally, we are making refinements to our physical presence to reposition and optimize our footprint for the future. 'We are investing in our branches, introducing new state-of-the art formats such as our new flagship model. The investments we are making in both digital and physical will help ensure Santander is best positioned to deliver for our customers for years to come.' The transaction is expected to close in the fourth quarter of this year, subject to regulatory approval and customary closing conditions. The acquisition is a significant step in Community Bank's de novo expansion strategy within the Greater Lehigh Valley, bolstering its commercial and consumer lending footprint. With this deal, Community Bank will increase its total retail locations in Greater Lehigh Valley to 12. Community Bank expects to assume around $600m in deposits and purchase around $33m in branch-associated loans. With more than $16bn in assets, Community Bank operates around 200 customer facilities in Upstate New York, Northeastern Pennsylvania, Vermont, and Western Massachusetts. "Santander Bank to divest seven branches amid digital transformation" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-06-2025
- Business
- Yahoo
Santander to sell seven Pennsylvania branches to Community Bank
(Reuters) -Santander said on Wednesday it had agreed to sell seven branches in the Allentown, Pennsylvania area to U.S.-based Community Bank as the Spanish lender pivots towards becoming a digital-first bank in the United States. Santander launched Openbank in the U.S. market late last year with a high-yield savings account offering, and aims to have a full-service digital bank in the country by the end of 2025. In a separate statement, Community Bank said it will pay Santander a deposit premium of $48 million for assets and liabilities of the branches. The New York-based lender said it expects to assume about $600 million in deposits and purchase nearly $33 million in branch-related loans. The transaction is expected to close in the fourth quarter of 2025. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
25-06-2025
- Business
- Yahoo
Santander to sell seven Pennsylvania branches to Community Bank
(Reuters) -Santander said on Wednesday it had agreed to sell seven branches in the Allentown, Pennsylvania area to U.S.-based Community Bank as the Spanish lender pivots towards becoming a digital-first bank in the United States. Santander launched Openbank in the U.S. market late last year with a high-yield savings account offering, and aims to have a full-service digital bank in the country by the end of 2025. In a separate statement, Community Bank said it will pay Santander a deposit premium of $48 million for assets and liabilities of the branches. The New York-based lender said it expects to assume about $600 million in deposits and purchase nearly $33 million in branch-related loans. The transaction is expected to close in the fourth quarter of 2025. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
