The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

Lowndes Bancshares in Ga. buys FMB Bancshares

Lowndes Bancshares in Ga. buys FMB Bancshares

Lowndes Bancshares in Valdosta, Ga., has acquired FMB Bancshares in Lakeland, Ga. The deal was disclosed by Performance Trust Capital Partners, which advised FMB. The price wasn't disclosed. Farmers & Merchants Bank, FMB's $695 million-asset bank, will continue to operate as a separate bank. Lowndes is the holding company for the $355 million-asset Commercial Banking Co. and the $120 million-asset Citizens National Bank of Quitman.

October 15, 2024
Border Bancshares in N.D. raises $5.2M via private placement

Border Bancshares in N.D. raises $5.2M via private placement

Border Bancshares in Fargo, N.D., has raised $5.2 million after selling common stock. The holding company for the $953 million-asset Border Bank completed a private placement on Oct. 8, according to data compiled by Performance Trust Capital Partners. The data did not disclose the pricing or the investors.

October 15, 2024
Fieldpoint in Conn. raises capital to address written agreement

Fieldpoint in Conn. raises capital to address written agreement

Fieldpoint Private Bank & Trust in Greenwich, Conn., which is operating under a written agreement with the Federal Reserve, raised $5 million in a private placement. Fieldpoint Private Holdings, the parent company of the $1.4 billion-asset bank, raised the capital by selling stock on Oct. 7, according to data compiled by Performance Trust Capital Partners. The written order, disclosed last month, requires the bank to improve in areas such as

October 15, 2024
Securities sales cut into profit at FB Financial in Tennessee

Securities sales cut into profit at FB Financial in Tennessee

FB Financial in Nashville, Tenn., reported lower quarterly profit that reflected its decision to sell underwater securities. The $12.9 billion-asset company said in a press release that its third-quarter earnings fell by 47% from a year earlier, to $10.2 million. FB Financial said it sold $318.6 million of available-for-sale securities at a $40.2 million loss. The company said it reinvested the proceeds into higher-yielding securities. The company also noted that

October 15, 2024
National Bank of Arizona selects insider as its new CEO

National Bank of Arizona selects insider as its new CEO

National Bank of Arizona in Tucson has a new CEO. The $5 billion-asset bank said in a press release that Mark Stebbings had become its leader. The bank is a unit of Zions Bancorp. in Salt Lake City. Stebbings, who was the bank's director of specialty and commercial real estate lending, succeeded Mark Young, who retired on July 31. Young had been the bank's CEO since 2015. “My priority in

October 14, 2024
Bankwell in Conn. says $8.2M chargeoff will impact 3Q results

Bankwell in Conn. says $8.2M chargeoff will impact 3Q results

Bankwell Financial Group in New Canaan, Conn., said its third-quarter results will be hit by an $8.2 million charge-off. The $3.1 billion-asset company said in a regulatory filing that the charge-off is tied to a $13.7 million commercial real estate loan. The loan is secured by a Class A suburban New Jersey office park, where Bankwell is a 17% participant in an $84 million multibank club deal. The loan went

October 11, 2024
Bravera Holdings to buy VISIONBank in North Dakota

Bravera Holdings to buy VISIONBank in North Dakota

Bravera Holdings in Dickinson, N.D., has agreed to buy VISIONBank in Fargo, N.D. The $3.2 billion-asset Bravera said in a press release that it plans to complete its purchase of the $266 million-asset VISIONBank later this year. The price wasn't disclosed. VISIONBank will continue to operate under its current name. “This is a strategic move to enhance our service capabilities and extend our reach in the Fargo region," David Ehlis,

October 11, 2024
Citadel FCU pledges $6.5M to address redlining claims

Citadel FCU pledges $6.5M to address redlining claims

Citadel Federal Credit Union in Exton, Pa., agreed to pay about $6.5 million to address claims that it failed to provide mortgage lending services to majority Black and Hispanic neighborhoods in and around Philadelphia. The Department of Justice accused the $5.8 billion-asset credit union of redlining between 2017 and 2021. Citadel will provide $6 million in mortgage loan subsidies over five years for majority Black and Hispanic census tracts in

October 11, 2024