ACNB in Pennsylvania to rebrand Maryland operations
ACNB in Gettysburg, Pa., is applying its brand to its operations in Maryland. The $2.7 billion-asset company said in a press release that NWSB Bank and FCB Bank will become ACNB Bank on Jan. 1. The current brands will be retired. “We believe this brand alignment will eliminate any confusion for our customers who bank […]
M&T Bank to sell specialized trust business
M&T Bank in Buffalo has agreed to sell the collective investment trust business of one of its subsidiaries to Madison Dearborn Partners. The $198 billion-asset M&T said in a press release that its Wilmington Trust unit expects to complete the sale in mid-2023. The price wasn’t disclosed. The CIT business provides third-party trustee and administrative […]
Traditions First in Tenn. lines up next president
Traditions First Bank in Clarksville, Tenn., will soon have a new president. The $235 million-asset bank said in a press release that Kyle Miller will take on the role on Jan. 1. Miller has been an executive vice president and served on the bank’s board since its formation in 2000. Miller will succeed Tommy Mitchell, […]
Former CFPB official to advise fintech Pinwheel
Pinwheel, a fintech that aggregates real-time income and employment data, has added a former Consumer Financial Protection Bureau official to its advisory team. The company said in a press release that Raj Date had become an advisor. Date, a former deputy director at the CFPB, is a managing director of Fenway Summer, an investment firm, […]
Atlanta credit union agrees to buy Georgia bank
LGE Community Credit Union in Atlanta has agreed to buy Greater Community Bank in Rome, Ga. The $2 billion-asset LGE said in a press release that it expects to complete the purchase of the $321 million-asset Greater Community in the third quarter. The price wasn’t disclosed. Greater Community has three branches. LGE also bought Georgia […]
Synovus CEO to become chairman in 2023
Synovus Financial in Columbus, Ga., will have a new chairman next year. The $59 billion-asset company said in a press release that Kevin Blair, its president and CEO, will succeed Kessel Stelling as chairman on Jan. 1. Stelling, who has been chairman since 2012, will continue in an advisory role with Synovus until Jan. 1, […]
Washington Trust in R.I. taps insider as next president
Washington Trust Bancorp in Westerly, R.I., will have a new president in 2023. The $6.4 billion-asset company said in a press release that Mark Gim will retire and president and chief operating officer at its annual meeting in April. Gim was recently appointed to join Washington Trust’s board. Mary Noons, the company’s chief retail lending […]
N.Y. credit union hires veteran banker as CEO
Empower Federal Credit Union in Syracuse, N.Y., has hired a former banker as its CEO. The $3 billion-asset credit union said in a press release that Ryan McIntyre will also become its president on Jan. 3. McIntyre will succeed John Wakefield, who is retiring. McIntyre previously served as chief strategy officer at VyStar Credit Union. […]
Heartland, former CEO Lynn Fuller reach truce
Lynn Fuller has resigned from the board of Heartland Financial USA as part of an agreement between the Dubuque, Iowa, company and its former CEO. The $19.7 billion-asset Heartland disclosed in a regulatory filing that it had reached a standstill agreement with a shareholder group affiliated with Fuller. The shareholder group owns about 6.7% of […]
Shore Bancshares to buy Community Financial in Maryland
Shore Bancshares in Easton, Md., has agreed to buy Community Financial in Waldorf, Md. The $3.4 billion-asset Shore said in a press release that it will pay $254.4 million in stock for the $2.4 billion-asset parent of Community Bank of the Chesapeake. Shore shareholders will own 60% of the combined company. The deal is expected […]
M&T hires retired Truist CFO Daryl Bible to fill same post
Daryl Bible didn’t stay retired very long. M&T Bank in Buffalo, N.Y., said in a press release that Bible will become its chief financial officer in the second quarter. Bible retired as CFO of Truist Financial in September. Bible joined BB&T in January 2008 from U.S. Bancorp and become the CFO nine months later. He […]
Florida Bankers Association CEO to retire in late 2023
Alex Sanchez plans to retire as president and CEO of the Florida Bankers Association. Sanchez plans to step down in December 2023, according to a LinkedIn post by the association. The post made no mention of the association’s process for finding a successor. Sanchez has served as the FBA’s president and CEO since 1998.
U.S. Bancorp hires Chase exec to oversee branches
U.S. Bancorp in Minneapolis has hired a former JPMorgan Chase executive to oversee its branch network. The $601 billion-asset company said in a press release that Sekou Kaalund had filled the newly created role of head of branch banking. He is responsible for more than 2,200 branches, along with consumer and small business bankers in […]
First Bank in N.J. to buy Malvern Bancorp in Pa.
First Bank in Hamilton, N.J., has agreed to buy Malvern Bancorp in Paoli, Pa. The $2.6 billion-asset First Bank said in a press release that it will pay $149.5 million in cash and stock for the $1 billion-asset Malvern. The deal, which is expected to close in the second quarter, priced Malvern at 102.1% of […]
FNCB in Pa. buys small stake in Quaint Oak Bancorp
FNCB Bancorp in Dumore, Pa., has acquired a 4.9% stake in Quaint Oak Bancorp in Southampton, Pa. The $707 million-asset Quaint Oak disclosed in a regulatory filing that it sold nearly 106,000 shares of common stock to the $1.7 billion-asset FNCB for roughly $2.4 million. Quaint Oak said it agreed to sell another 116,000 shares […]
Florida de novo Evermore Bank set to open
Evermore Bank is ready to open in Fort Lauderdale, Fla., after raising $25 million of initial capital. The proposed de novo plans to open on Friday, according to the South Florida Business Journal. Organizers, which originally outlined plans to raise $26 million to $45 million, plan to open a second branch in Wellington, Fla., during […]
Dort Financial Credit Union plans to buy Fla. bank
Dort Financial Credit Union in Grand Blanc, Mich., has agreed to buy Flagler Bank in West Palm Beach, Fla., from its parent company. The $1 billion-asset Dort is the 13th credit union to agree to buy a bank this year, excluding terminations. That matches 2019 for the highest number of credit-union bank deals. Flagler, a […]
Hometown Community in Ill. to buy Marine Bank
Hometown Community Bancorp in Morton, Ill., has agreed to buy Marine Bancorp in Springfield, Ill. The parent of the $4.8 billion-asset Morton Community Bank said in a press release that it expects to buy the holding company for the $714 million-asset Marine Bank in the second quarter. The price wasn’t disclosed. “We are looking forward […]
Enterprise Financial adds former bank CFO to board
Enterprise Financial Services in St. Louis, Mo., has added three directors, including a former bank executive. The $13 billion-asset company said in a press release that Lyne Andrich, Marcela Manjarrez and Lina Young were also appointed to its bank board, effective immediately. Andrich served as chief financial officer of CoBiz Financial from May 2003 to […]
CNB Financial planning women-focused bank division
CNB Financial in Clearfield, Pa., plans to launch a banking division to focus on female entrepreneurs and business leaders. The $5.3 billion-asset CNB said in a press release that Impressia Bank, its sixth banking division, will debut next year. The platform will rely heavily on an online presence as it expands. Impressia will also rely […]
RBB adds former bank president to management team
RBB Bancorp in Los Angeles has hired a former bank president to serve as its chief administrative officer. The $3.9 billion-asset company said in a press release that Gary Fan will oversee marketing and wealth management. He is also expected to manage operations in the New York and Chicago markets. Fan will also focus initiatives […]
Summit in W.Va. to buy PSB Holding in Maryland
Summit Financial Group in Moorefield, W.Va., has agreed to buy PSB Holding in Preston, Md. The $3.9 billion-asset Summit said in a press release that it will pay $53.9 million in stock for the $594 million-asset parent of Provident State Bank. The deal is expected to close in the second quarter. “This transaction represents an […]
Northeast Bank in Maine sets up $50M stock offering
Northeast Bank in Portland, Maine, could sell up to $50 million of common stock as part of an at-the-market offering. The $1.7 billion-asset bank said in a press release that it had entered into an equity distribution agreement with Piper Sandler to offer and sell the stock. Northeast said any proceeds from the sale would […]
Blockchain-focused SPAC in talks to buy a bank
A special purpose acquisition company affiliated with Figure Technologies said it has a nonbinding letter of intent to buy a bank holding company with national mortgage lending and servicing operations. Figure Acquisition Corp. I, a San Francisco blank check company founded by Figure’s management team, did not disclose the name of the bank, though it […]
Former Huntington exec joins Western Alliance board
Western Alliance Bancorp. in Phoenix has added a former executive from Huntington Bancshares to its board. The $65 billion-asset company said in a press release that Kevin Blakely will stand for election at next year’s annual meeting. Blakely is a senior adviser to Oliver Wyman. Blakely’s career includes being chief risk officer at Huntington and […]