Cincinnati-based First Financial scooped up Westfield Bank near Cleveland after Westfield's parent company decided to exit the bank space and focus on its core insurance business.

The Cincinnati bank aims to grow in northeast Ohio with the acquisition of Westfield. The deal is expected to boost First Financial to a $20.6 billion institution.

Foreclosure activity surged in the first quarter, underscoring the growing need for borrower support as certain federal protections expired.

The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."

President Donald Trump has signed a Congressional Review Act resolution that eliminates the Office of the Comptroller of the Currency's Biden-era rules requiring stricter reviews of bank mergers and a time-out clock for some institutions.

New York's attorney general announces MoneyGram will pay a civil fine to settle a lawsuit over its handling of remittance payments; Swedish buy now/pay later lender Klarna is getting into the telecom business; Truist Financial has hired Charles Alston to lead its new nonprofit hospital, higher education and government banking team; and more in this week's banking news roundup.

The bank's investors hope to see the small community bank in Utah transform and grow into "a minority-owned version of Ally," as board chair Ashley Bell put it.

Even as unpredictable trade policies slowed down mergers in other sectors, banks have kept inking M&A deals at the same pace, according to a new report.