FRIDAY THE 13th

Lots of people love Friday the 13ths - we've had a few this year but there will be only one in 2016 (May). The Gregorian calendar is full of wonderful mathematical quirks, and here's one of them: under its regime, a century will never start on a Sunday. Or a Wednesday or Friday, for that matter since the Gregorian calendar completely cycles every 400 years; add 400 years to any date, and the day of the week will be exactly the same. That means that there are only four different days with which a century can begin, and they happen to be Monday, Saturday, Thursday, or Tuesday. Who says that you never learn anything from this danged commentary? Speaking of learning things, how about this graphic on data breaches? If you don't think it is going to happen to you, just wait...

Stifel Financial Corp. said Monday it has agreed to buy Eaton Partners LLC, a Connecticut-based global fund placement and advisory firm that has raised over $68 billion since its founding. Virginia's United Bankshares Inc. announced it has signed a definitive merger agreement with Bank of Georgetown, a privately held community bank headquartered in Washington, D.C., and with $1.2 billion in assets. In Florida Seacoast National Bank ($3.2B) will acquire Floridian Bank ($453mm) for about $76.5mm in cash (35%) and stock (65%) or roughly 1.4x tangible book. Bank of America will sell its $87B cash management money market mutual fund business to BlackRock. In the home of the Green Bay Packers Chippewa Valley Bank ($297mm) will acquire State Bank of Drummond ($44mm). In the Volunteer State Citizens National Bank ($885mm) will acquire National Bank of Tennessee ($143mm) after National's holding company files for bankruptcy.

Ameris Bank ($5.2B, GA) will acquire Merchants and Southern Banks ($473mm, FL) for about $50mm in cash. In the home of the Dallas Cowboys Wellington State Bank ($241mm) will acquire Security State Bank ($118mm), and Incommons Bank ($117mm) will purchase 2 TX branches from Allegiance Bank Texas ($2.0B). The branches have $27mm in loans and $30mm in deposits. Ameris Bank ($5.2B, GA) will acquire 18 GA and FL branches from Bank of America. The branches have about $812mm in deposits. HomeTrust Bank ($2.8B, NC) will close 6 NC and TN branches as it adjusts to increased customer usage of online and mobile technology.

Texas updated regulations for mortgage loan companies and contract provisions, which became effective on November 5^th. Revisions include that any advertisement must contain the name of the originator followed by the name of the sponsoring mortgage company, the originator's NMLS and Registry Identification Number, and the company's office physical address. Updates have also been made to ensure compliance with the TILA/RESPA Integrated Disclosures, as well as the provision on late charges for high-cost mortgage loans.

Oklahoma requires one hour of state-specific education for those submitting an application for an Oklahoma mortgage license on or after November 1^st. The one hour of education is to be included in the twenty hours. Also effective on November 1^st is the removal of the requirement for the completion of annual continuing education in a classroom setting at least every two years.