Alerus in N.D. repositions its securities portfolio
Alerus Financial in Grand Forks, N.D., restructured its securities portfolio. The company said in a press release that it sold $360 million of securities, or more than two-thirds of its available-for-sale securities, at a $68.5 million pretax loss. Alerus reinvested the proceeds into higher-yielding securities. “Our focus in 2025 was to lower risk and improve […]
Peruvian bank strikes deal to buy Helm Bank for $180 million
Credicorp, Peru’s biggest bank, has agreed to buy Helm Bank USA in Miami. Credicorp said in a press release that its Banco de Crédito del Perú unit will pay $180 million for the $1.1 billion-asset Helm Bank. “This acquisition allows us to deepen our ability to serve Latin Americans whose financial lives span both their home […]
Alpine Banks of Colorado taps new CEO after leader’s passing
Alpine Banks of Colorado in Glenwood Springs has a new CEO. The $6.8 billion-asset company said in a press release that Glen Jammaron had also become its chairman. Jammaron, who was president and vice chairman, succeeds Bob Young, who passed away on Dec. 11. “I am honored to continue the incredible legacy that Bob built […]
Longtime Virginia bank commissioner retiring in January
Joe Face is set to retire as Commissioner of Virginia’s Bureau of Financial Institutions. Face, who took over the role in 1997, will step down next month. Dustin Physioc, who has nearly two decades of experience with the bureau, will succeed Face on Jan. 25.
Peoples Financial in Pennsylvania sells lower-yielding securities at loss
Peoples Financial Services in Moosic, Pa., repositioned its securities portfolio. The company disclosed in a regulatory filing that it sold $78.6 million of lower-yielding securities at a nearly $1.9 million after-tax loss. Net proceeds were used to buy higher-yielding assets, including U.S. agency mortgage-backed securities and discounted tax-exempt municipal bonds. The moves are expected to increase […]
Organizers apply to form Augustus National Bank in Dallas
A group in Dallas has applied to open a bank. Organizers of the proposed Augustus National Bank have applied to the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency. The application wasn’t immediately available. The public notice filed in connection with the application listed six organizers. Three members of the […]
Stablecoin-focused fintech Coinbax raises $4.2M in seed funding
Coinbax has raised $4.2 million in seed funding. The stablecoin-focused payments fintech announced that the round was led by BankTech Ventures, with participation from Connecticut Innovations, Paxos, SpringTime Ventures, and other banking and payments industry leaders. The capital will support engineering development, infrastructure integrations and design partner onboarding. “Within the next three years, every bank account […]
Overbrook Bankshares to buy Norcon Financial in Kansas
Overbrook Bankshares in Overbrook, Kan., has agreed to buy Norcon Financial in Conway Springs, Kan. Overbrook, the parent of the $100 million-asset First Security Bank, said in a press release that it plans to buy the holding company for the $125 million-asset Conway Bank in the first half of next year. The price wasn’t disclosed. […]
Platte Valley Financial to buy Potter State Bank in Nebraska
Platte Valley Financial Services in Scottsbluff, Neb., has agreed to buy Potter State Bank in Potter, Neb. The parent of the $1.1 billion-asset Platte Valley Bank expects to purchase all deposits and loans held by the $47.2 million-asset Potter State in the first quarter, according to an announcement by Olsen Palmer, which represented the seller. […]
Bethany Bankshares to buy Latham Bancshares in Missouri
Bethany Bankshares in Bethany, Mo., has agreed to buy Latham Bancshares in Latham, Mo. The parent of the $1.5 billion-asset BTC Bank expects to buy the holding company for the $190.1 million-asset Tipton Latham Bank in the second quarter, according to an announcement by Olsen Palmer, which represented the seller. The price wasn’t disclosed.
ICBA CRA Solutions removes ‘interim’ from CEO’s title
ICBA CRA Solutions/USI Alliance has a new leader. The subsidiary of the Independent Community Bankers of America said in a press release that Kristine LaVigna had become its president and CEO. She will oversee the unit’s mission to strengthen communities through CRA-aligned lending and investment. “Kristine brings deep expertise and a proven track record of […]
Daryl Byrd-led group to buy M C Bank in Louisiana
An investor group led by Daryl Byrd has agreed to buy M C Bank in Morgan City, La. DMMS Purchaser plans to buy the $479 million-asset bank, based on an announcement by Performance Trust Capital Partners, which advised the seller. The price wasn’t disclosed. Byrd was CEO of IBERIABANK when it sold to First Horizon […]
University Bancorp in Michigan to buy two faith-based lenders
University Bancorp in Ann Arbor, Mich., has agreed to buy Greater Pacific Bancshares in Whittier, Calif. University said in a press release that it will also buy American Finance House LARIBA, a mortgage and auto lender based in Pasadena, Calif. The deals are expected to close in the first half of 2026. Greater Pacific is […]
Hana Financial in South Korea infuses $100M into its U.S. bank
Hana Financial Group in South Korea has injected $100 million into its U.S. bank. Hana Bank USA was created in 2013 after the parent company bought Broadway National Bank. Hana Financial injected $36.5 million into the bank in 2016 and another $65 million six years later. Hana Bank USA’s maximum lending limit per customer should […]
Fintech Mercury applies to become nationally chartered bank
Mercury has applied to regulators to become a nationally chartered bank. The San Francisco fintech said in a press release that it applied with the Federal Deposit Insurance Corp. for deposit insurance and with the Office of the Comptroller of the Currency for a national bank charter. “Becoming an FDIC-insured national bank aligns with our […]
Thread in Tenn. raises $30M to expand embedded banking platform
Thread Bancorp in Nashville, Tenn., raised $30.5 million. The company said in a press release that the funding round was led by Portage Ventures, with participation from Rockmont Partners and others. Proceeds will be used to support the continued growth and development of Thread’s embedded banking strategy. Thread aims to provide embedded “digital branches” through […]
Burke & Herbert in Va. to enter Pennsylvania with LINKBANCORP deal
Burke & Herbert Financial Services in Alexandria, Va., has agreed to buy LINKBANCORP in Camp Hill, Pa. The $8 billion-asset Burke & Herbert said in a press release that it will pay $354.2 million in stock for the $3.1 billion-asset LINKBANCORP. The deal, which is expected to close in the second quarter, priced LINKBANCORP at […]
Farm Credit Bank of Texas promotes COO as next leader
Farm Credit Bank of Texas has a new leader lined up. The lender hired Brandon Blaut as its CEO, effective Jan. 1, based on a LinkedIn post by Chartwell Partners, which handled the search. Blaut, who was the chief operating officer, will succeed the retiring Amie Pala. “We were honored to partner with the board […]
CVB to buy Heritage Commerce in California for $811 million
CVB Financial in Ontario, Calif., has agreed to buy Heritage Commerce in San Jose, Calif. The $15 billion-asset CVB said in a press release that it will pay $811 million in stock for the $5.6 billion-asset Heritage. The deal, which is expected to close in the second quarter, priced Heritage at 151% of its tangible […]
Community West to buy United Security in California
Community West Bancshares in Fresno, Calif., has agreed to buy United Security Bancshares in Fresno. The $3.6 billion-asset Community West said in a press release that it will pay $191.9 million in stock for the $1.2 billion-asset parent of United Security Bank. The deal, which is expected to close in the second quarter, priced United […]
FDIC approves deposit application for proposed Erebor Bank
Organizers of the proposed Erebor Bank in Columbus, Ohio, have received conditional approval from the Federal Deposit Insurance Corp. The proposed bank must have $276 million in initial capital, FDIC-compliant protocols for deposit account processing in the event of a bank failure, and maintain a 12% minimum Tier 1 leverage ratio during its first three […]
Paducah Bank in Ky. selects chief banking officer as next CEO
Paducah Bank and Trust in Paducah, Ky., will start the new year with a new leader. The $997 million-asset bank said in a press release that Ashley Johnson will become its president and CEO on Jan. 2. She will also join the board. Johnson, the bank’s chief banking officer, will succeed Mardie Herndon, who will […]
PayPal applies for Utah industrial loan charter
PayPal Holdings in San Jose, Calif., has applied for an industrial loan charter. The payments giant said in a press release that it plans to form PayPal Bank in Utah. The proposed bank would enable PayPal to more efficiently provide lending solutions to U.S. small businesses while reducing reliance on third parties. “Securing capital remains […]
West Union Bank in W.Va. selects senior lender as new CEO
West Union Bank in West Union, W.Va., will start 2026 with a new CEO. The $296 million-asset bank said in a press release that Michael Malfregeot will also become its president on Jan. 1. Malfregeot, who is a senior lender, will succeed Tom Whaling, who is retiring. “Michael has a strong vision for the future,” […]
Blue Foundry contacted Fulton after 20+ others passed on a deal
Blue Foundry Bancorp in Rutherford, N.J., approached Fulton Financial in Lancaster, Pa., about a merger after more than 20 other banks and credit unions passed on a deal. The $32 billion-asset Fulton agreed last month to buy the $2.2 billion-asset Blue Foundry for $243 million in a deal expected to close in the second quarter. […]