The company previously announced it would also close its consumer-direct operations, which relied heavily on refinance activity.

The Pittsburgh-based parent of First National Bank of Pennsylvania plans to close its $117 million buyout of UB Bancorp in December.

The company said it will prepay two securitization facilities and terminate financial arrangements including at least two involving U.S. Bank.

Taichung Commercial Bank said it would pay $82.1 million to buy American Continental Bancorp in suburban Los Angeles.

Wind and storm surge damage to residential and commercial properties could reach $47 billion, according to a CoreLogic analysis.

The same day Provident Financial Services announced it had agreed to buy Lakeland for $1.3 billion, the seller disclosed an ongoing fair-lending investigation by the Justice Department. Provident said it has "not heard anything" that would give it pause.

The all-stock acquisition of Lakeland Bancorp, expected to close in the second quarter of 2023, would create a combined bank with more than $25 billion of assets.

The Cincinnati bank's new division will lend to nonbanks that make or bundle together residential mortgage loans, whose businesses have slowed as higher interest rates lower appetite for refinancing. The warehouse sector has seen "fierce competition" among banks lately, one analyst wrote.

SPS will have roughly 1.4 million mortgages in its portfolio after the transaction closes, something the two companies estimate will occur in the fourth quarter of this year.

The Minneapolis-based buyer had previously said the deal would close earlier in the second half. Some of the financial benefits, which had been expected to be realized next year, won't come to fruition until 2024, executives said Monday.