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Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.
Banking news
Old National Bancorp and First Midwest Bancorp Inc. announced Wednesday that they have completed their all-stock "merger of equals."
The Northeastern banks had aimed to wrap up their deal by Feb. 21, but the Federal Reserve — the last of the regulatory authorities they need approval from — hasn’t signed off yet.