Daily Brief · October 30, 2026
Warren urges Bank of America criminal probe after $1.21 billion penalty
The request follows a $1.21 billion anti-money-laundering penalty that affected third-quarter earnings. Warren urged prosecution of the bank or executives if warranted. She cited persistent compliance deficiencies despite prior enforcement orders; Bank of America said it is addressing the failures. The request is a call for Justice Department action, not an announced criminal investigation.
Source: Benzinga
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Enforcement and acquisition approvals
Fed approves Scotiabank’s application to acquire MapleMark
The October 29 approval covers the acquisition of Dallas-based Maple Financial Holdings. The transaction would indirectly transfer Tulsa-based MapleMark Bank to The Bank of Nova Scotia. The Fed approved the Toronto bank’s application to become a bank holding company through the acquisition; the announcement is an approval, not a closing.
Source: Federal Reserve Board
First Hawaiian and TriCo Bancshares shareholders approve their merger
Closing is expected later in 2026, subject to customary closing conditions. The previously announced all-stock acquisition would broaden First Hawaiian’s mainland presence and create a company with approximately $34 billion in assets.
Sources: Carroll County Mirror-Democrat, SEC 8-K
Acquisition terms and completed conversion
First Mid agrees to buy Evergreen for $70.7 million
The stock-and-cash agreement values American Bank of Freedom’s parent at approximately $70.7 million. First Mid estimates 5% earnings-per-share accretion in 2028. That estimate includes the anticipated impact of crossing $10 billion in assets. The buyer expects approximately 0.5% tangible book value dilution, earned back in roughly half a year, and savings equal to 33% of Evergreen’s noninterest expense. American Bank of Freedom had $932 million in assets and $727 million in deposits at September 30.
Source: SEC 8-K
Columbia reports completed Northfield acquisition and conversion
Third-quarter results reported $17.6 billion in assets following the Northfield Bancorp acquisition. Net income fell to $5.2 million from $14.9 million a year earlier. Columbia Financial said the quarter included completion of both its second-step conversion offering and the acquisition, which significantly changed its financial structure. Total liabilities were $14.4 billion.
Source: The Manila Times
Earnings, margins and borrower stress
Cullen/Frost earns $178.5 million as lending accelerates
Third-quarter diluted earnings rose to $2.84 a share from $2.67 a year earlier. At June 30, Frost Bank’s deposit cost was 1.60%, versus a 2.40% peer median. Taxable-equivalent net interest income increased 5.8% year over year to $490.8 million. Average loans rose 9% to $23.4 billion and average deposits increased 3.6% to $43.6 billion; management credited execution of its organic growth strategy.
Source: SEC 8-K
NewtekOne tightens underwriting as problem loans climb
Nonaccrual loans more than doubled to $383.2 million at September 30, American Banker reported. Management tightened underwriting and restrained originations in response to borrower stress. The third-quarter credit-loss provision more than doubled to $15.4 million, and net income fell 40% year over year to $10.7 million. NewtekOne’s October 28 results maintained full-year earnings guidance of $1.70–$1.80 per share despite diluted quarterly earnings falling to $0.34 from $0.67.
Sources: American Banker, SEC 8-K
West Bancorporation lifts profit as loans return to growth
Third-quarter net income rose to $11.6 million from $9.3 million a year earlier. At June 30, West Bank’s net interest margin was 2.77%, versus a 3.79% peer median. The newly reported quarter brought an eight-basis-point sequential margin expansion and 1.5% loan growth, the first sequential lending increase in five quarters. Management expects $550 million in fixed-rate loan repricing to support margins despite intensified deposit competition. The company declared a $0.26 quarterly dividend payable November 25.
Sources: SEC 8-K, TradingKey