XML 41 R30.htm IDEA: XBRL DOCUMENT v3.20.2
Subsequent Events
9 Months Ended
Sep. 30, 2020
Subsequent Events  
Subsequent Events

Note 22 – Subsequent Events

On October 15, 2020, the Company announced that its Correspondent Banking Division will be expanding through the acquisition of Duncan-Williams, Inc. (“Duncan-Williams”), a 52-year-old family- and employee-owned registered broker-dealer, headquartered in Memphis, Tennessee, serving primarily institutional clients across the U.S. in the fixed income business. The transaction has been approved by the Company’s board of directors and is expected to close in the first quarter of 2021, subject to receipt of regulatory approvals and compliance with other customary closing conditions. Upon completion of the transaction, Duncan-Williams will become an operating subsidiary of the Bank.