UBS Group AG has filed an application for a national bank charter for its US franchise as it seeks to expand in the region. A national bank charter will help UBS Bank USA to expand offerings for wealth management clients to include "bank-provided payments, checking and savings account services," according to a memo seen by Bloomberg News that was confirmed by a spokesperson.  "Our US clients hold significant deposits and largely rely on other banks for their everyday banking needs," Americas boss Rob Karof ...

Core Insights - First Citizens Bank has announced the acquisition of 138 branches from BMO Bank, expanding its presence in the Midwest, Great Plains, and West regions of the U.S. [1][2] - The transaction involves assuming approximately $5.7 billion in deposit liabilities and acquiring about $1.1 billion in loans [1][3] - The deal is expected to close by mid-2026, pending regulatory approvals [3] Company Expansion - The acquisition allows First Citizens Bank to enter new markets and enhance its client-centered approach [2] - The bank aims to improve its liquidity position and support strategic initiatives through the new deposit franchise [2] Transaction Details - The branches being acquired are located in several states, including North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, Idaho, and select branches in western Minnesota, eastern Oregon, and southern Illinois [1][3] - Legal and financial advisors for the transaction include Arnold & Porter Kaye Scholer LLP, Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, BMO Capital Markets, and Piper Sandler & Co. [4] Company Overview - First Citizens Bank is headquartered in Raleigh, N.C., and offers a wide range of banking services, including commercial banking and innovation banking [6] - The parent company, First Citizens BancShares, Inc., is a top 20 U.S. financial institution with over $200 billion in assets [6]

Core Viewpoint - Five Star Bancorp is expanding its presence in the Bay Area by opening a new office in Walnut Creek, which reflects the company's commitment to strategic growth in Northern California [1][2][3] Company Expansion - The new Walnut Creek office will be approximately 4,128 square feet and is expected to open in the third quarter of 2025 [2] - This expansion follows the opening of a San Francisco office in September 2024, indicating a broader growth strategy [2] Market Opportunity - Walnut Creek has seen steady commercial growth and increased demand for financial services, driven by post-pandemic migration and a vibrant small business sector [2] - The new office aims to serve a diverse client base, including family-owned businesses and professional service firms [2][3] Community Commitment - The location is chosen for its thriving business landscape, skilled workforce, and strong community values, aligning with the company's goal of delivering personalized banking solutions [3] - Approximately one-third of Five Star Bank's Bay Area employees are already based in the East Bay, highlighting the regional focus [2]