Strategic Insights into Banking & Fintech

Fintech GrailPay raises $10.5M in latest funding round

Fintech GrailPay raises $10.5M in latest funding round

New York fintech GrailPay raised $10.5 million in Series A funding. The fintech, which is building a risk intelligence platform for ACH and bank payments, said the funding round was led by MissionOG and included participation EJF Ventures, Counterpart Ventures, Construct Capital, Commerce Ventures, and SSC Venture Partners.  GrailPay said it plans to use the funds to expand its risk-detection infrastructure. GrailPay has raised a total of $17.2 million since its

June 26, 2026
Candescent finds next CEO

Candescent finds next CEO

Candescent in Atlanta has a new leader. The platform said in a press release that Jason Edelboim had become its CEO, succeeding Brendan Tansill, who stepped down. Edelboim was CEO of iCIMS, an AI platform for talent acquisition. "Banking is moving from digital to intelligent, and Candescent is at the forefront of this shift," Edelboim said in a press release. "The winners will be the institutions and the platforms that

June 25, 2026
Keweenaw Financial to buy Range Bank in Michigan merger

Keweenaw Financial to buy Range Bank in Michigan merger

Keweenaw Financial in Hancock, Mich., has agreed to buy Range Financial in Marquette, Mich. Keweenaw, the parent of the $1.1 billion-asset Superior National Bank, said in a press release that it plans to buy the $635 million-asset holding company for Range Bank in the fourth quarter. The price of the all-stock deal wasn't disclosed. Range Bank has eight branches. Five Range Bank directors will join Keweenaw's board. Jamey Markham, Range

June 25, 2026
Colony in Georgia to buy First Reliance in S.C. for $163 million

Colony in Georgia to buy First Reliance in S.C. for $163 million

Colony Bankcorp in Fitzgerald, Ga., has agreed to buy First Reliance Bancshares in Florence, S.C. The $3.9 billion-asset Colony said in a press release that it will pay $163 million in stock for the $1.1 billion-asset First Reliance. The deal, which is expected to close in the fourth quarter, priced First Reliance at 162% of its tangible book value. “This partnership represents a truly transformational milestone for both Colony and

June 25, 2026
Proposed SoCal de novo gets conditional FDIC approval

Proposed SoCal de novo gets conditional FDIC approval

Organizers of the proposed TriCoast Bank in Burbank, Calif., have received conditional approval from the Federal Deposit Insurance Corp. The group must raise $25 million in capital before the bank can open. Organizers originally applied with the FDIC and state regulator in October.

June 22, 2026
BCB in New Jersey suspends quarterly dividends

BCB in New Jersey suspends quarterly dividends

BCB Bancorp in Bayonne, N.J., has suspended its quarterly dividend as its new CEO looks to shore up capital. The company said ina press release that the suspension applies to common and preferred stock. The board also voted to suspend its 2026 amended and restated dividend reinvestment and stock purchase plan. "We will be undergoing a fulsome evaluation of the bank’s credit portfolios, which will take some time," Tom O'Brien,

June 19, 2026
Ion Bank in Conn. makes Boston push with Cooperative Bank merger

Ion Bank in Conn. makes Boston push with Cooperative Bank merger

Ion Financial in Naugatuck, Conn., has agreed to absorb Cooperative Bank in Boston. The $2.8 billion-asset Ion said in a press release that the $540 million-asset Cooperative will continue to operate as a division. Cooperative President and CEO John Battaglia will join Ion as president of the new division. The banks will create a $2.5 million charitable foundation to support local communities served by the Massachusetts branches. Performance Trust Capital

June 19, 2026
North Shore in Wisconsin to buy PyraMax Bank parent

North Shore in Wisconsin to buy PyraMax Bank parent

North Shore Bank in Brookfield, Wis., has agreed to buy 1895 Bancorp of Wisconsin in Greenfield. The $2.5 billion-asset North Shore said in a press release that it will pay $18.40 to $18.66 a share in cash for the parent of the $598 million-asset PyraMax Bank. The deal is expected to close in the fourth quarter. “This is a natural fit between two organizations that believe in community banking at

June 19, 2026