AI-focused startups dominate field in next ICBA accelerator class
The Independent Community Bankers of America has selected six startups to join its next ThinkTECH Accelator program. The new participants are: Crux Analytics: Specializes in agentic workflows to back small business acquisition, engagement, and retention Flatirons AI: Generative AI to streamline bank operations and strengthen compliance InvestiFi: Digital investment services directly from checking accounts, bypassing […]
Former Acting Comptroller Hsu partners with VC firm Core Innovation Capital
Former Acting Comptroller Michael Hsu has become a venture partner of Core Innovation Capital. The Los Angeles VC firm said in a press release that Hsu will partner with founders to anticipate regulatory hurdles, engage constructively with policymakers, and “design strategies that align innovation with safety, soundness, and fairness.” “After years focused on safeguarding the […]
Pioneer in New York forms broker-dealer subsidiary
Pioneer Bancorp in Albany, N.Y., has formed a broker-dealer subsidiary. The $2 billion-asset company said in a press release that Pioneer Capital Markets will initially focus on proprietary trading of investment-grade municipal bonds. “Pioneer Capital Markets enhances our core offerings by leveraging proprietary municipal bond trading and interest income to deliver diversified, market-driven revenue streams,” […]
Eagle Rock Bank in Minnesota co-CEO to retire at yearend
Eagle Rock Bank in Rochester, Minn., will soon have streamlined leadership. The $275 million-asset bank said in a press release that Brad Becker will retire as president and co-CEO at the end of this year. He will remain on the board. Larry Schminski, a former Federal Deposit Insurance Corp. examiner and the bank’s co-CEO, will […]
Enova to buy Grasshopper Bank in $369 million deal
Enova in Chicago has agreed to buy Grasshopper Bank in New York. The fintech said in a press release that it plans to pay $369 million in cash and stock for the $1.4 billion-asset Grasshopper. The deal, which is expected to close in the second half of next year, priced Grasshopper at 254% of its […]
Solutions Plus Bank debuts in Alabama after raising $27 million
Solutions Plus Bank has opened in Albertville, Ala. The bank debuted on Dec. 4, according to the Federal Deposit Insurance Corp. Organizers had to raise $27 million after they secured conditional FDIC approval in November 2024. The group applied with the FDIC the previous August.
FDIC gives conditional approval to proposed Georgia Skyline Bank
Organizers of the proposed Georgia Skyline Bank in Roswell have received conditional approval from the Federal Deposit Insurance Corp. The group, which submitted its application in June, needs to raise at least $25 million in initial capital prior to opening. Ryan Floyd would be the proposed bank’s president and CEO. He was a senior vice […]
FirstBanc to buy FBDC Financial in merger of Alabama banks
FirstBanc of Alabama in Talladega has agreed to buy FBDC Financial in Fort Payne, Ala. The $1.1 billion-asset FirstBanc will pay $20.5 million in cash and stock for the parent of the $162 million-asset First Fidelity Bank. The deal is expected to close in the second quarter. One FBDC director will join FirstBanc’s board. Olsen […]
KeyCorp in Ohio swears off bank M&A, raises buyback projections
KeyCorp in Cleveland is taking itself off the board when it comes to buying banks. The company made it clear during its presentation at a conference hosted by Goldman Sachs, stating in a slide that it is “not pursuing depository acquisitions.” Key also noted in a slide that it expects to repurchase about $200 million […]
Home in Ark. to enter Tennessee with Mountain Commerce acquisition
Home BancShares in Conway, Ark., has agreed to buy Mountain Commerce Bancorp in Knoxville, Tenn. Home said in a press release that it will pay $150.1 million in stock for the parent of the $1.8 billion-asset Mountain Commerce Bank. The merger, which is expected to close early in the first half of 2026, priced Mountain Commerce […]
Organizers aim to raise $27M for proposed Private Bank in Georgia
The organizers of the proposed Private Bank & Trust plan to raise at least $27 million in initial capital. The group recently applied to open the bank in Gainesville, Ga. Private Bank is being positioned as a high-touch, relationship-driven institution focused on small businesses, professionals and affluent households. Organizers expect up to three-fourths of banking […]
Beal-owned Monet Bank in Texas setting sights on crypto operations
Monet Bank in Plano, Texas, is planning a push into crypto lending and custody. The $4.5 billion-asset bank, owned by Andy Beal, is now positioning itself as an “infrastructure bank” that will focus on digital assets. “Monet is focused on being the premier digital asset financial institution, providing innovative and forward-facing solutions for the digital […]
CEO of West Union Bank in W.Va. to retire in early 2026
West Union Bank in West Virginia is setting the stage for a new president and CEO. West Union said in a press release that Thomas Whaling, who has spent more than two decades leading the bank, will retire in January. “Tom has always led by example, treating other people the way he wants to be […]
Primis in Va. to sell securities, enter sale-leaseback deal for branches
Primis Financial in McLean, Va., entered into a sale-leaseback transaction for 18 branches. The $4 billion-asset company said in a press release that it sold the locations to MountainSeed for a pretax gain of $50 million. Separately, Primis plans to sell $144 million of securities at a pretax loss of $14.8 million. About $50 million […]
UCSB Financial in Miami sells lower-yielding securities at loss
USCB Financial Holdings in Miami is the latest bank to unload underperforming securities. The company said in a press release that it sold $44.6 million in lower-yielding securities, representing 12.6% of its portfolio, at an after-tax loss of $5.6 million. The plan is to reinvest the proceeds in higher-yielding securities. It should take the company […]
Activist HoldCo pressures KeyCorp to remove its CEO
HoldCo Asset Management, which is pressuring several regional banks, is now urging KeyCorp in Cleveland to oust Chairman and CEO Chris Gorman. The activist investor, which owns about 0.7% of Key’s stock, said in a board presentation made publicly available that it also wants the company to adopt a “no acquisitions” policy and direct all […]
Webster in Connecticut buys savings account provider SecureSave
Webster Financial in Stamford, Conn., has acquired a provider of employer-sponsored emergency savings accounts. The $80 billion-asset company said in a press release that its HSA Bank division bought SecureSave. The price wasn’t disclosed. The acquisition “continues our commitment to deepening our expertise and capabilities in our Healthcare Financial Services segment,” Luis Massiani, Webster Bank’s […]
Group aims to form Private Bank & Trust in Georgia
Another new bank is being planned in Georgia. Seven organizers have applied with the Federal Deposit Insurance Corp. to create Private Bank & Trust in Gainesville. The application wasn’t immediately available. The group’s members, based on a legal notice, are Brian Daniel, Greg Barrett, William Bagwell Jr., Ashton Lewis, Brian Rochester, Wendell Starke and Bo […]
Former CEO faces charges tied to Oklahoma bank’s 2024 failure
The former president and CEO of First National Bank of Lindsay faces 18 charges tied to the Oklahoma bank’s October 2024 failure. Danny Seibel was indicted for bank fraud, making false entries in the books and records of a financial institution, obstructing an exam, and failing to implement an anti-money laundering program. The Office of […]
ACNB in Pennsylvania sells underperforming securities
ACNB Corp. in Gettysburg, Pa., repositioned its securities portfolio. The company disclosed in a press release that it sold roughly $74.6 million of lower-yielding securities at an after-tax loss of about $2.8 million. Net proceeds of $71.1 million were used to buy higher-yielding securities, including agency multifamily securities, agency collateralized mortgage obligation securities and agency […]
Denali State Bank in Alaska sets stage for next CEO
Denali State Bank in Fairbanks, Alaska, is set to have a new leader. Steve Lundgren is retiring as the bank’s president and CEO after leading it for the past 13 years. Ryan Strong, who was the chief banking officer at First National Bank of Alaska, succeeded Lundgren.
SoFi aims to raise $1.5 billion via public offering
SoFi Technologies in San Francisco plans to raise $1.5 billion through a public offering. The lending fintech said in a press release that it will let underwriters sell an additional 15% of shares if there is enough demand, which would boost the offering’s proceeds by $225 million. SoFi plan to use the proceeds for general […]
Fintech Kobalt Labs raises $11 million Series A funding round
Kobalt Labs has raised $11 million in a Series A funding round. The fintech, which uses AI to automate and strengthen risk and compliance workflows at financial institutions, said in an announcement that the funding round was led by Ali Rowghani at First Harmonic. Alloy Labs and Y Combinator also participated in the round.
Youth banking CUSO Nuuvia raises $4 million
Nuuvia, a credit union service organization (CUSO) that is building a youth banking and intelligent lifecycle banking platform, raised $4 million. VyStar Credit Union and Desert Financial Credit Union were the investors; each will appoint representatives to the CUSO’s board and product technology and innovation council. “Creating meaningful partnerships with institutions like VyStar Credit Union […]
Delfi, CFO Consulting Partners program to address balance sheet oversight
Delfi, an AI-native risk management platform, and CFO Consulting Partners, a firm of former finance executives, have launched an offering to help banks and credit unions improve balance-sheet discipline. The partnership reflects a growing industry trend, where institutions are seeking faster, clearer analytics paired with experienced guidance. The partnership combines Delfi’s real-time analytics platform with […]