Trying to keep up with the changes in banks is indeed a full-time job. Since ISOs are using both large and small financial institutions for bankcard acquiring, as well as offering agent bank relationships, we continue to watch this evolution. By example, Mercantile Bancorp, Inc., is acquiring Firstbank of Illinois (valued at $697 million) which will make Mercantile the largest bank in Illinois.
Capital City Bank Group of Tallahassee, Florida has purchased five offices of First Federal Savings & Loan Association of Lakeland, Florida, for an undisclosed amount.
Community First Bancshares, Inc., based in Fargo North Dakota (don't sha no) has completed its acquisition of 25 BankOne branches in Arizona, following the acquisition of Republic National Bank.
And on another note, First Alliance Corporation a consumer finance company in Irvine, California announced that it terminated its application with the Office of Thrift Supervision to acquire Standard Pacific Savings, F. A., a Federally charted thrift in Newport Beach, California, placing Standard Pacific bank in play.
