Spencer Savings Acquires Wawel Bank

Spencer Savings Bank will acquire Wawel Bank in an all-cash transaction valued at approximately $3.4 million.

Sandler O’Neill Hires Bentinck as Managing Director

Sandler O’Neill has hired Caspar Bentinck as managing director in the firm’s investment banking group. He will focus on West Coast banks and financial service companies.

WSJ: DOJ Rep Questions Use of Chapter 11 by Suffering Banks

The Wall Street Journal reported that a bankruptcy representative from the U.S. Department of Justice questioned the use of Chapter 11 to further sales of suffering banks.