Daily Brief · July 24, 2026
Bank growth deals and funding moves meet legal pressure
Community-bank deals, First Citizens debt repayment, earnings guides, payments litigation and supervision process changes shaped the brief.
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Scale and funding actions
OPTUS-M&F and Northrim-People’s Bank deals add scale
Optus Financial agreed to acquire M&F Bancorp for more than $105 million in cash and stock, creating a combined company with $1.27 billion of assets that will operate under the Optus name; closing is expected in the fourth quarter of 2026, subject to regulatory and shareholder approvals. Northrim Bank agreed to buy People’s Bank of Commerce for $167.3 million, taking Northrim to $4.2 billion of assets and 32 branches.
Sources: American Banker, Banking Dive
First Citizens repaid $8.5 billion of SVB acquisition debt
The repayment was on the FDIC purchase-money note tied to the Silicon Valley Bank deal, including $2.5 billion in the second quarter and $1 billion in July. First Citizens plans additional monthly payments of $500 million to $1 billion, funded by excess liquidity so far and potentially by Federal Home Loan Bank borrowings, long-term debt or brokered deposits if needed.
Source: American Banker
Huntington conversion lifts growth outlook
Huntington guided to stronger second-half growth after Cadence conversion
The late-June system conversion gives Huntington more control over and insight into more than 1.4 million deposit accounts acquired from Cadence. Management expects high-single-digit loan and deposit growth, stable-to-rising net interest margin and very strong fourth-quarter earnings per share despite higher funding costs.
Source: American Banker
Bread Pay supports consumer-credit earnings
Bread Financial beat second-quarter expectations as Bread Pay installment loans lifted credit sales
The company posted a second-quarter earnings beat, while delinquency and net loss rates improved year over year, and it adjusted its outlook for better loan growth, revenue and loss-rate expectations.
Source: American Banker
Legal and supervisory constraints
Early Warning Services lost its bid to dismiss New York’s Zelle fraud suit
The ruling sent both of the state’s fraud theories into discovery; New York alleges more than $1 billion in scam losses, and a loss could reach Early Warning’s seven owner banks and more than 2,200 banks and credit unions on Zelle. ABA’s coalition amicus brief had urged dismissal, arguing Early Warning should not be liable for third-party scams and that the requested relief could force network-wide changes and create regulatory uncertainty.
Sources: American Banker, ABA Banking Journal
CFPB nominee Brian Johnson sidestepped Senate questions on staffing cuts and dropped-case allegations
At his Senate Banking Committee hearing, Johnson said he had an open mind on Consumer Financial Protection Bureau staffing as the administration seeks court permission to trim the agency's staff by more than half, while senators pressed him on allegations that the bureau dropped 42 enforcement cases tied to donors.
Sources: ABA Banking Journal, American Banker
Fed watchdog said delayed exam closures can constrain bank activity
The Federal Reserve’s inspector general said examiners were untimely in closing supervisory findings after banks submitted remediation materials, leaving matters requiring attention or immediate attention outstanding in ways that can affect branch openings, M&A and new activities.
Source: American Banker