Valley National Bank ( Vnb )

The Bank of the United States was designed to make money and build an economy. It was designed by men like Alexander Hamilton and Robert Morris, but did not benefit the common citizen as much as wealthy investors. Why did a fledgling government need to borrow millions from overseas in order to invest in a “national” bank, to turn around and then borrow the same money back and pay interest on it? The banking system developed by Alexander Hamilton and Robert Morris was prime pickings for speculators, and laid the groundwork for a history of unscrupulous activity regarding our nation’s money supply that continues to this day. The signatures on the Constitution were barely dry before corruption and

Bank of America is the largest US bank founded in 1904, it has expanded through several acquisitions. By the end of 2009, Bank of America was the market leader serving 82% of the US population and over 53 million customers. They are positioned as number one in online and mobile banking. Their mobile banking services were launched in 2007 and have gained 4 million customers in less than three years. Acquisitions made by Bank of America prior to the financial crisis caused a very strong drop in their stock price.

First Hawaiian Bank "is a subsidiary of BancWest Corporation, a regional financial services holding company. BancWest Corporation is a subsidiary of BNP Paribas, a European leader in banking and financial services, with a significant and growing presence in the United States and Asia" (Inside FHB, 2012, First Hawaiian Bank). Despite this international connection, the Bank self-consciously styles itself as a uniquely Hawaiian bank and stresses the 'local' nature of the bank. It is Hawaii's oldest and largest bank.

The largest six publically traded banks in the United States who are FDIC insured account for seventy-eight percent of the market, while the top four account for sixty-eight percent of the market. These top six banks include: Wells Fargo and Company, JPMorgan Chase and Company, Bank of American, Citigroup, US Bancorp, and PNC Financial Services. Wells Fargo, the market share leader, holds over twenty-percent of the market with JPMorgan Chase falling just under twenty percent (Oja, 2015). The top four banks as listed above, accounted for almost half of the revenue, at nearly two hundred and eighteen billion dollars. The top eight banks, of the eighty-one, managed an astonishing seventy-five percent of the total revenue for all banks (Oja, 2015). These other two banks were Branch Banking and Trust Corporation (BB&T) and SunTrust Banks and the total revenue in 2014 were at four hundred and forty-three billion dollars. Specifically, as of 2014, JPMorgan Chase

Tracy Lynskey, a recent graduate of New England College of Business, started at Bristol County Savings Bank (BCSB) twenty-five years ago as a teller. She has since risen in the ranks all the way to her current position of Branch Supervisor, which she has held for ten years.

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Citizens State Bank of Waverly was founded in 1907 by several individual investors. The Graham family, specifically Daniel Graham and his brother Mark took, over ownership in 1951. Eventually in 1985, the bank was sold to Catherine “Birdie” Jackson (formerly a Graham), Kim Jackson (wife and husband) and Daniel Graham. It has always been a locally owned, independent community bank with immense focus on customer service. At the end of 2012, the bank was purchased by Cattail Bancshares, Inc., a holding company formed by Robert “Bob” Meyerson and Suzanne Meyerson of Atwater, MN. This was viewed positively by the communities served, in that it would remain a true family owned, community bank.

The purpose of this research is to review the impact of mergers and acquisitions on credit unions as it applies to the principles of money and banking. Specifically we will review the impact of the merger between E & A Credit Union and First Community Federal Credit Union. Mergers and acquisitions are very common in today’s financial environment. According to the Glenn Christensen (2015), there has been an increase in approved mergers again this year, June 2015 over June 2014. Not only are there more and more mergers, the size of the merger is growing as well (Christensen, 2015). As we look at the history of financial institutions over the years, mergers and acquisitions are very common. Mergers and acquisitions have had a significant impact in the decline of the number of banks since 1985 (Mishkin, 2016). Over the past few decades, thousands of banks merged (Wilcox & Dopico, 2011). Credit unions have seen significant numbers in terms of mergers and acquisitions spanning over many years. In 1969 there were 23,866 credit unions with assets totaling $16 billion (Wilcox & Dopico, 2011). This number dropped dramatically by 2010 to only 7,491 credit unions (Wilcox & Dopico, 2011). The assets grew to $927 billion equaling 7.6% of bank assets in comparison to the only 3% held during 1969 (Wilcox & Dopico, 2011). Although there was a 70% reduction in the number of credit unions, credit unions grew in their share of the market..

Commonwealth bank of Australia was founded back in 1911 by the commonwealth bank act that was in favour of bank nationalization. The bank started its first branch in 1912 in Melbourne and later joint hands with the state savings bank in Tasmania and a year later it was able to spread its branches in six different states. After 1920 the bank gradually expanded its role in central banking and along with time continued expanding and earning a good reputation in the market (Australia, 2014). Commonwealth Bank of Australia is also one of the multinational banks of the world that provides a number of financial services to its clients such as managing the funds, retail services, investment services etc. This group has also got itself listed in the Australian Securities Exchange as the top companies that have the objective of maintaining the total shareholder 's return in the upper quartile among the other listed peers over a period of five years (Austrailia, 2014).

Canadian Imperial Bank of Commerce or CIBC as most know it, has been operating since 1867. They are a profit corporation that offers public banking and financial services to individuals, small businesses, and also other corporations. CIBC is a Canadian corporation that has branched out and now does business in Europe, Asia, Australia, Latin America, and of course The United States (Wikipedia).

The Royal Bank of Canada (RBC, RBC Royal Bank, or RBC Financial Group) is the largest banking institution in Canada. RBC serves more than 18 million clients and has over 80,000 employees distributed all over the world (RBC 2008). The company corporate headquarters are located in Montreal, Quebec, and its operational head office is in Toronto, Ontario. RBC is listed as the largest Canadian company by revenue and market capitalization by The Globe and Mail and was ranked at 50 in the 2013 Forbes Global 2000 listing. The company has operations in Canada, and 51 other countries (RBC 2011). In May 2004, the Royal Bank of Canada experienced a crisis which involved a programming change to an essential piece of banking software. Generally, this is

Bank of America is a banking and financial service industry located in Charlotte, North Carolina. If you would like to access the internet address for Bank of America, then you can click on this link provided https://www.bankofamerica.com . Its primary SIC Code is 6021 – National Commercial Banks, and its primary NAICS Code is 522110 – Commercial Banking. The Bank of American provides many goods and services for its customers such as banking, credit cards, loans, and investments. Every day Bank of America is competing against many competitors but JPMorgan Chase and Wells Fargo are some of the largest. Bank of America’s stock exchange ticker symbol is NYSE: BAC. The external auditor is PricewaterhouseCoopers LLP in Charlotte, North Carolina.

Virtual banking services which had been deployed since 1980 by Bank ONE of Columbus, Ohio (Darlin 1997), had a tremendous growth since then to 1,130 banks deploying online banking services by

Founded in 1982 in South Africa, Unity Bank was one of the few providers of global shareholder and employee management services and other value added services. Unity held more than 60 million accounts for over 10,000 corporations across twelve countries and five continents, employing 8000 people worldwide and a market capitalization of $2 billion. The M&A integration of Delta with Unity Bank in itself was a great step for Unity Bank.

The Century National Bank has offices in several cities in the Midwest and the southeastern part of the United States. Mr. Dan Selig, president and CEO, would like to know the characteristics of his checking account customers. What is the balance of a typical customer? How many other bank services do the checking account customers use? Do the customers use the ATM service and, if so, how often? What about debt cards? Who uses them, and how are they used?