EverBank Financial Completes Acquisition of Sterling Bank and Trust, F.S.B.

Sequoia Financial Group Acquires Sterling Financial Group

December 4, 2025

Financial Services

Sequoia Financial Group, an Akron-based SEC-registered wealth manager with $29.9 billion AUM, has acquired Pasadena-based Sterling Financial Group, a seven-person independent investment advisory firm with $406 million in AUM. The deal expands Sequoia's footprint in California and brings Sterling's advisors and clients into Sequoia's platform; terms were not disclosed.

VersaBank Acquires Stearns Bank Holdingford N.A.

September 3, 2024

Financial Services

VersaBank completed the acquisition of Stearns Bank Holdingford N.A. (SBH) from Stearns Financial Services, renaming the bank VersaBank USA N.A. The US$14.0 million cash deal (approximately CAD$19.3M) gives VersaBank an OCC‑chartered U.S. banking platform to launch its Receivable Purchase Program (RPP) in the U.S. market.

First Financial Bancorp to Acquire BankFinancial Corporation

January 1, 2026

Financial Services

First Financial Bancorp agreed to acquire Chicago-based BankFinancial Corporation in an all-stock transaction valued at approximately $142 million. The deal is intended to expand First Financial’s presence in the Chicago market, adding 18 financial centers and BankFinancial’s consumer, trust/wealth management, and selected commercial lending capabilities.

San Francisco Federal Credit Union to Acquire Summit Bank Branches in East Bay, California

July 22, 2025

Financial Services

San Francisco Federal Credit Union (San Francisco & Oakland, Calif.) entered into a definitive agreement to purchase substantially all the assets and liabilities of Summit Bank in an all-cash transaction. The deal covers Summit Bank’s three East Bay branches in Oakland, Emeryville, and Walnut Creek, and is anticipated to close in the first quarter of 2026, subject to regulatory and shareholder approvals.

TIAA Sells TIAA Bank to Group of Private Investors; Bank Relaunches as EverBank

August 1, 2023

Financial Services

TIAA has completed the divestiture of TIAA Bank to a group of private investors (funds managed by Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street and Bayview Asset Management). TIAA retains a non‑controlling ownership stake and a board seat while the bank, headquartered in Jacksonville, Florida, will operate under a new national bank charter and now does business as EverBank to pursue nationwide consumer and commercial banking growth.

Citizens Financial Group Acquires 80 HSBC East Coast Branches and National Online Deposit Business

February 22, 2022

Financial Services

Citizens Financial Group has closed its acquisition of 80 East Coast branches and the national online deposit business from HSBC Bank U.S.A., N.A., adding more than 800,000 customer accounts and rebranding the branches as Citizens. The deal expands Citizens' physical presence in the New York City metro, Mid-Atlantic and Southeast Florida markets and brings more than 500 former HSBC employees to Citizens as part of the conversion.