U.S. Bancorp announced Monday it has agreed to purchase Bank of America Corp.’s securitization trust administration business.  

With around $100 million of annual revenue and deposits of $10 billion, the acquisition would fit into U.S. Bancorp’s years-long effort to build its corporate trust business. The selling price is “up to” $35 million, the company said, and would result in merger-related expenses of $35 million to $45 million. U.S. Bancorp said the purchase would boost earnings by 2012 and  give the company a 30% stake of the overall structured finance trust market.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access