Atlantic Union in Va. pledges $2.2B in commitments under expanded plan
Atlantic Union Bankshares in Richmond, Va., has enhanced its community impact plan. The company said in a press release that the updated plan, which reflects its purchase of Sandy Spring Bank in Maryland, will add about $2.2 billion of planned new lending, investments, and philanthropy commitments. The plan was developed in collaboration with the National […]
TD Bank unit invests $25 million in Lendistry
Lendistry in Los Angeles received a $25 million investment commitment from a unit of TD Bank. The community development financial institution and leading Small Business Administration 7(a) lender, said in a press release that the investment could support up to $250 million in small business financing over the next five years. “TD believes that small […]
Rhinebeck Bancorp in N.Y. hires outsider as next CEO
Rhinebeck Bancorp in Poughkeepsie, N.Y., will soon have a new leader. The company said in a press release that Matthew Smith will become its president and CEO on Oct. 20. Smith, who was chief operating officer at Columbia Financial, will succeed Michael Quinn, who is retiring. Quinn will serve as interim executive adviser through the […]
IF Bancorp in Illinois reaches truce with activist investor
IF Bancorp in Watseka, Ill., has reached a truce with an activist investor. The company disclosed in a regulatory filing that it entered into a standstill agreement with funds associated with Joseph Stillwell and Stilwell Partners. The agreement is set to last until March 2026 or the company’s sale, whichever comes first. IF Bancorp agreed […]
Five banks in Arkansas, Missouri to merge under single brand
Five banks in northeast Arkansas and southeast Missouri are combining under a single brand. Farmers Bank and Trust in Blytheville and Piggott State Bank, both in Arkansas, will merge with First Missouri State Bank in Poplar Bluff, First Missouri Bank of SEMO in Kennett, and First Missouri State Bank of Cape County in Cape Girardeau to […]
Digital assets fintech Stablecore raises $20 million
Stablecore, a Dallas fintech that lets small and midsize banks and credit unions offer digital assets, raised $20 million. The company said in a press release that the fundraising was led by Norwest, with participation from Coinbase Ventures, Curql, BankTech Ventures, Bank of Utah, EJF Ventures, Bankers Helping Bankers Fund. “Following landmark regulatory changes this year, stablecoins and digital assets have […]
National Bank in Colorado to buy Vista Bank in Texas
National Bank Holdings in Denver has agreed to buy Vista Bancshares in Dallas. The $9.9 billion-asset parent of NBH Bank said in a press release that it will pay $369.1 million in cash and stock for the $2.4 billion asset Vista. The deal, which is expected to close in the first quarter, priced Vista at […]
Fowler State in Indiana taps insider as next president
Fowler State Bank in Fowler, Ind., will begin 2026 with a new president. The $198.5 million-asset bank said in a press release that Courtney Rooze will take on the new role on Jan. 1. Court, the bank’s senior ag lender, will succeed Steven Brunton, who will remain CEO. Brunton plans to fully retire in March […]
Range Bank in Michigan lines up CEO succession for late 2026
Range Bank in Marquette, Mich., has lined up its CEO succession. The $575.2 million-asset bank said in a press release that Jamey Markham will also become president in December 2026. Markham, the bank’s chief lending officer and community bank president, will succeed Roxanne Daust when she retires. Daust joined Range Bank in 1997 as chief […]
Bank of Franklin to buy Mississippi branch from BankPlus
Bank of Franklin in Meadville, Miss., has agreed to buy a branch from BankPlus in Belzoni, Miss. The $249.5 million-asset Bank of Franklin plans to buy a branch in McComb, Miss. The price wasn’t disclosed. The branch had $63.5 million of deposits on June 30, representing about 7.6% of McComb’s overall deposits, according to data […]
Bank of America names co-presidents in potential succession move
Is Brian Moynihan setting the stage for naming a successor at Bank of America? Moynihan, the Charlotte, N.C., company’s chairman and CEO, said in a press release that Dean Athanasia and Jim DeMare had been named co-presidents. Athnasia was president of regional banking, while DeMare was president of global markets. Alastair Bothwick, the company’s chief financial […]
First Fed in Washington hires Curt Queyrouze as CEO
First Northwest Bancorp in Port Angeles, Wash., hired Curt Queyrouze as its CEO. The company said that Queyrouze will also become its president and join the board on Sept. 17. “It’s a privilege to step into this role at a company with such a long-standing reputation,” he said in the release. “First Fed has a […]
First Heritage Bank in Kansas brings on sixth-generation leader
First Heritage Bank in Centralia, Kan., has its first new leader in 48 years. The $266.1 million-asset bank said in a press release that Tyler Bachman had succeeded his father, Bruch Bachman, as CEO. Tyler Bachman, who remains the bank’s president, is the bank’s sixth-generation leader.
Proposed Washington de novo aiming for MDI status
A proposed bank in Washington aims to become a minority depository institution. Organizers of the planned United Development Bank made the disclosure in their application with the Federal Deposit Insurance Corp. United Development will operate one branch at its main office in Bellevue, Kirkland, or Redmond. United Development Bank is expected to open on or around […]
First Internet in Ind. to sell nearly $900M of lease financing loans
First Internet Bancorp in Fishers, Ind., has agreed to sell a portfolio of lease financing loans. The company disclosed in a regulatory filing that it plans to sell up to $896 million of performing single-tenant lease finance loans to entities affiliated with Blackstone Real Estate Debt Strategies. The expected price would represent about 95% of […]
Fifth Third in Ohio disclosed big fraud headache tied to commercial loan
Fifth Third Bancorp in Cincinnati warned that it will take a sizeable impairment in the third quarter tied to alleged fraud involving a commercial borrower. The $210 billion-asset company disclosed that the impairment will range from $170 million to $200 million. The alleged fraud is tied to an asset-backed finance loan. Fifth Third said it […]
Community Financial in N.Y. invests in tech-centric insurance agency
Community Financial System in Syracuse, N.Y., has made a minority investment in Leap Holdings, a tech-focused insurance agency. The $16 billion-asset company said in a press release that it paid about $37.4 million for various classes of preferred and common stock. The investment will complement the banking company’s existing insurance services business.
PNC to buy FirstBank in Colorado for $4.1 billion
PNC Financial Services Group in Pittsburgh has agreed to buy FirstBank Holding in Lakewood, Colo. The $559.1 billion-asset PNC said in a press release that it will pay $4.1 billion in cash and stock for the $26.8 billion-asset FirstBank. The deal is expected to close in early 2026. FirstBank has 95 branches in Colorado and […]
Dan O’Malley hired to lead AI-focused fintech Engageware
Dan O’Malley is back. O’Malley, who co-founded and then led Numerated when it sold to Moody’s, was named CEO of Engageware, a fintech that provides AI-powered customer engagement solutions. Rick Lowrey will remain executive chairman of the company. “Enterprises are using real-world interaction and outcome data to rethink how they harness AI to deliver more […]
Bradford Bancorp to buy St. Jacob Bancshares in Illinois
Bradford Bancorp in Greenville, Ill., has agreed to buy St. Jacob Bancshares in St. Jacob, Ill. The $633 million-asset Bradford said in a press release that it expects to buy the $92 million-asset St. Jacob by early 2026. The price wasn’t disclosed. “Both organizations have demonstrated great success by providing outstanding customer service and building […]
GBank in Las Vegas taps chairman to replace departed CEO
GBank Financial Holdings in Las Vegas has a new CEO. The company disclosed in a press release that Ed Nigro had taken over from T. Ryan Sullivan, who opted against renewing an employment agreement that expired on Aug. 31. The company is in talks with Sullivan, who was also president and a director, about taking […]
Temenos parts ways with CEO Jean-Pierre Brulard
Core banking software firm Temenos has parted ways with its CEO. The Swiss company said that Jean-Pierre Brulard had stepped down, effective immediately. He became CEO in May 2024. Takis Spiliopoulos, the company’s chief financial officer, was named interim CEO while a search is conducted for a permanent successor. “After careful consideration, the board determined […]
UCSB Financial in Fla. buys back shares from Patriot, others for $34M
UCSB Financial Holdings in Doral, Fla., bought stock from one of its biggest investors. The company disclosed in a regulatory filing that it bought about 2 million shares of common stock from a group that includes Patriot Financial Partners, paying $17.19 a share, or about $34.4 million. The negotiated price reflects a 1% discount to […]
PeoplesBank in Mass. lines up new CEO for 2026
PeoplesBank in Holyoke, Mass., has a new CEO lined up. The $7 billion-asset bank said in a press release that Tom Senecal will retire at the end of this year. He will remain chairman. Todd Tallman, CEO of Cornerstone Bank, will succeed Senecal as CEO. The holding companies for PeoplesBank and Cornerstone merged earlier this […]
Reciprocal deposit firm ModernFi raises $30M in new funding round
ModernFi, a deposit management fintech, has raised $30 million in a Series B funding round. The funding round was led by Canapi Ventures, with participation from Andreessen Horowitz, Curql, Remarkable Ventures, and Intercontinental Exchange. ModernFi’s total funding now tops $60 million. “Our job at ModernFi is to support the scale and diversity of the American […]