Our offices (and yours) will be closed on July 4th, so I’m posting this wrap up a day early. For those who may miss my daily Twitter posts, here’s a quick recap of the stories we’ve been following this week:
Mergers, Acquisitions – Expansion, Consolidation
- WA’s Twin Star Credit Union set to close branches in Renton and Longview http://bit.ly/1jMC9eO
- Visions Federal Credit Union continues to expand its footprint in NJ w/merger of $134M Tri-Co Federal Credit Union http://press.sn/1s27PSG
- Credit Union of America to move and expand Derby, KS branch http://bit.ly/1mTsyrp
- NC-based Complete Financial Solutions Inc. enters into agreement to buy TN’s American Patriot Bank http://bit.ly/1o1mVUq
- TN’s Franklin Synergy Bank finalizes acquisition of MidSouth Bank http://bit.ly/1qxpxzK
- Xenith Bankshares completes acquisition of Colonial Virginia Bank http://bit.ly/1onwuQw
- New CU chartered:
@TheNCUA has approved a charter for First Unity Federal Credit Union of McComb, Mississippi. http://bit.ly/1qeLz8O
Mergers past: components of the largest four U.S. banks were 35 separate companies in 1990 http://t.co/NDHm15hbb1 pic.twitter.com/jR364xNqEX
— Jim Perry (@mi_jim) July 1, 2014
- Cornerstone Holding Company of Fargo and Lakeside Bank Holding Co., New Town, ND to merge http://bit.ly/1iQvLbA
- GA’s The Coastal Bank finalizes merger with Ameris http://bit.ly/1rbfZKJ looking at consolidation of branches in the future
- NCUA reports Credit Union merger uptick http://bit.ly/1iSsnMZ via
@CookeonCUs
Marketing
- Research brief from
@MediaPost offers insights into generational social media behaviors http://bit.ly/1lLiCjg - Marketing to Millennials? Convenience and immediacy have become paramount characteristics for any product. http://bit.ly/1vng9MO
#GenY - Did you know JPMorgan
@Chase spends an estimated $70-80M annually on digital media across all divisions. http://bit.ly/1mjQoYn - “banks are generally inefficient, have high fixed costs & don’t exactly elicit happy thoughts from the avg consumer” http://bit.ly/UXUIHd
Mobile
- Fav stat from BofA study: 18-24 yos say
#mobile phones are more important than deodorant, coffee, TV or toothbrush http://bit.ly/1lW3FuT - New report from BofA shows mobile’s transformational impact continues to spread: 38% use mobile to deposit checks http://bit.ly/1lW3FuT
- Steep growth in mobile advertising will help push total US ad spending this year to its biggest increase in a decade. http://bit.ly/1iXvFyW
- CEO
@BrettKing of@getMoven closed an $8M funding round to take mobile banking app overseas http://bit.ly/1jJ0XVc
Touch ID can enable biometric banking, better mobile payments http://t.co/v8dQ4YM73q pic.twitter.com/WI7fniPE78
— Jim Perry (@mi_jim) July 2, 2014
- Bank of America has 15M+ active mobile banking users who access accounts on mobile device over 165M times/month. http://bit.ly/1xaeUn5
- In Australia,
#mobile banking and shopping take over from cash and queues http://bit.ly/1rSX2tK Mobile commerce up 448% in 3 years. - Noticed
@simple made@CNNMoney‘s list of 15 best sites/apps that will change the way you save, shop, bank, invest http://cnnmon.ie/1e5iyc7
Digital allowance: UK’s @osper launches prepaid card & mobile banking for kids 8-18 years old. http://t.co/iDlFUCY1f7 pic.twitter.com/JNHzDtcnJa — Jim Perry (@mi_jim) June 30, 2014
Industry News
- Discovery continues past final day of
#ACUC: Follow@CUinsight,@CurrencyTim,@mi_sullivan,@jrwlay,@simonsinek,@cumagazine,@ambermac - Goldman Sachs is asking US judge to force Google to delete an email to prevent a “needless & massive” privacy breach http://cnet.co/1j00Yc7
- In case you missed this: U.S. Bancorp settles w/Justice Department over mortgage loan allegations; pays $200M penalty http://on.wsj.com/1iZefSJ
- First Manitowoc Bancorp Inc. has changed its corporate name to Bank First National Corp. http://post.cr/1jMARk5
- Jackson, MI’s American 1 Credit Union recognized for extraordinary efforts to give back to their community http://bit.ly/1nZTMZO
- In case you missed this:
@wonkblog‘s@DaniDougPost on how the banking industry wants to be just like Amazon http://wapo.st/1yVe3bu - 5 gov’t agencies issue a collective “watch out” to banks over homeowners ability to pay back HELOCs http://bit.ly/1iUHvKe via
@Marketplace - Thoughts go out to
@Chase‘s Jamie Dimon. BREAKING NEWS: Dimon Reveals Throat Cancer Diagnosis In Internal Memo http://onforb.es/1sVqVOm - July 1:
@netbanker‘s Online Banking Report to become Digital Banking Report published by@JimMarous &@FinancialBrand http://bit.ly/1qMOTay
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That’s all for this week. If we missed an important story, drop me a note. Have a great 4th of July weekend!
