Triumph in Texas to cut 5% of its workforce
Triumph Financial in Dallas is cutting about 5% of its workforce. The $6.5 billion-asset company disclosed in a regulatory filing that the layoffs, along with other initiatives, should lead to about $4.5 million of charges, mostly occurring in the third quarter. Based on Triumph’s full-time employee count on June 30, that would be about 80 […]
Horizon in Ind. to sell stock to reposition its balance sheet
Horizon Bancorp in Michigan City, Ind., is planning to sell common stock. The $7.7 billion-asset company disclosed in a slide presentation that it plans to sell at least $90 million of stock. Horizon said in a press release that it expects to grant its underwriters a 30-day option to buy up to an additional 15% of […]
Fifth Third bolsters payments capabilities with DTS Connex purchase
Fifth Third Bancorp in Cincinnati has acquired DTS Connex, a cash management software provider. The company did not disclose how much it paid for DTS Connex, which focuses on solutions for multi-location businesses such as retailers, restaurants, and healthcare providers. “Within commercial payments, we’ve built a robust cash processing business that strengthens client relationships beyond […]
Fintech Casca raises $29M from Canapi, Huntington, Live Oak and others
Casca, a fintech looking to build an AI-native loan origination system, raised $29 million in its Series A funding round. Lukas Haffer, the fintech’s CEO, said in a LinkedIn post that the round was led by Canapi Ventures and included Huntington Bank, Live Oak Bank, Bankwell Bank, Alliance Funding Group, Peterson Ventures, Clocktower Ventures, and […]
Freshly rebranded Ascendia Bank lines up new CEO
The newly rebranded Ascendia Bank in Glen Rock, N.J., has a new leader. The $394.1 million-asset Ascendia, previously known as Glen Rock Savings Bank, said in a press release that John Allen IV will become its president and CEO on Aug. 25. Allen, who was recently chief financial officer at New Jersey Community Capital, will […]
Truckstop.com buys transportation-focused fintech Denim
Truckstop.com has acquired Denim, a transportation-focused fintech. Denim also has a factoring service that automates invoicing, reduces time-to-cash, and optimizes back-office processes. The pricing wasn’t disclosed. Performance Trust Capital Partners advised Denim.
Citizens Bank of West Virginia to buy Miners & Merchants Bank
Citizens Bank of West Virginia in Elkins has agreed to buy Miners & Merchants Bank in Thomas, W.Va. The $687 million-asset company did not disclose what it will pay for the $67.5 million Miners. The deal is expected to close in the first half of 2026. “This merger represents a strategic opportunity for Citizens to […]
Ready Capital completes first bulk sale of legacy bridge loans
Ready Capital in New York announced a series of significant portfolio actions this summer as it continues to sharpen its focus. The company sold its residential mortgage banking segment during the second quarter. On Aug. 6, Ready completed its first bulk sale of legacy bridge loans, unloading $494 million of multifamily bridge assets. The transaction, […]
Glen Burnie Bancorp in Maryland buys Florida mortgage lender
Glen Burnie Bancorp in Glen Burnie, Md., has acquired VA Wholesale Mortgage in Jacksonville, Fla. The company did not disclose the price it paid for the mortgage lender, which focuses on active-duty and retired members of the U.S. armed forces. Buying “VA Wholesale Mortgage … is a win-win,” Mark Hanna, Glen Burnie’s president and CEO, […]
TowneBank in Virginia to buy Dogwood State in North Carolina
TowneBank in Suffolk, Va., has agreed to buy Dogwood State Bank in Raleigh, N.C. The $18 billion-asset TowneBank said in a press release that it will pay $476.2 million in stock for the $2.4 billion-asset Dogwood. The deal is expected to close in early 2026. TowneBank also has a pending deal for Old Point Financial […]
CSI to buy digital banking platform provider Apiture
Computer Services Inc. has agreed to buy digital banking platform provider Apiture. Live Oak Bankshares in Wilmington, N.C., disclosed in a regulatory filing that it will record a $20 million to $25 million pretax gain from selling its stake to CSI. Live Oak co-founded Apiture in 2017 as part of a joint venture with First […]
First Guaranty in La. reports bigger 2Q loss from provision increase
First Guaranty Bancshares in Hammond, La., has amended its second-quarter results to reflect a larger loan-loss provision and a bigger quarterly loss. The company disclosed in a regulatory filing that its loss widened from $5.8 million to $7.3 million. A big factor was the provision, which increased from $14.7 million to $16.6 million. First Guaranty […]
Klarna agrees to sell BNPL receivables to Nelnet
Klarna has arranged a new financing agreement where it will sell newly originated, short-term receivables from its Buy Now, Pay Later service to Nelnet Financial Services. Klarna said in a press release that up to $26 billion in total payment volumes should change hands as part of the agreement. Proceeds would be used to expand […]
Retired bank CEO joins First Interstate BancSystem board
First Interstate BancSystem in Billings, Mont., added some heft to its board. The company disclosed in a regulatory filing that Michael Scudder will serve as a director an initial term expiring at the 2028 annual meeting. Scudder retired as chairman of Old National Bancorp on January 2024. He was president and CEO of First Midwest […]
FS Bancorp in Washington selects insider as bank CEO
FS Bancorp in Mountlake Terrace, Wash., will soon have a new bank CEO. The $3.2 billion-asset company said in a press release that Matthew Mullet will take on the role at 1st Security Bank on Sept. 1. Mullet, who will remain president of FS Bancorp and the bank, will succeed Joe Adams, who will remain […]
SunMark to buy Wheeler Bancshares in Georgia
SunMark Bancshares in Perry, Ga., has agreed to buy Wheeler Bancshares in Alamo, Ga. The $381.6 million-asset SunMark did not disclose how much it will pay for the parent of the $181.9 million-asset Wheeler County State Bank. Performance Trust Capital Partners, which announced the deal on LinkedIn, advised Wheeler.
Capitol Bank in Wisconsin has new CEO
Capitol Bank in Madison, Wis., has a new CEO. Ken Thompson shared on his LinkedIn account that he had retired, though he will remain executive chairman of the $640.1 million-asset bank. Justin Hart, who was president, is now CEO. “My journey with Capitol Bank has been nothing short of extraordinary,” he wrote in a post. […]
BOSP Bancshares to buy Banner Bancorp in Wisconsin
BOSP Bancshares in Sun Prairie, Wis., has agreed to buy Banner Bancorp in Birnamwood, Wis. BOSP, the parent of the $742 million-asset Bank of Sun Prairie, said in a press release that it plans to buy the holding company for the $126 million-asset Banner Banks in the fourth quarter. The price wasn’t disclosed. D. Shannon […]
New Orleans group gets conditional FDIC approval to open bank
A group looking to form a bank in New Orleans has received conditional approval from the Federal Deposit Insurance Corp. Organizers of the proposed NOLA Bank must raise $26.4 million of initial capital. The bank, which was originally called InclusiveBANK before rebranding, is expected to open as a minority depository institution (MDI). Joe Omner is […]
Organizers look to open de novo bank in Kentucky
A group in Owensboro, Ky., is planning to form a bank. Organizers, operating as DC Storage LLC, have applied to the Federal Deposit Insurance Corp. to open Cornerstone Community Bank. The proposed de novo would focus on small and midsize businesses and their owners and employees, real estate investors and developers, and professionals. Kyle Aud, […]
Evolve Bank in Arkansas hires outsider as next CEO
Evolve Bank & Trust in West Memphis, Ark., has a new leader. The bank said that it hired Bob Hartheimer, a senior advisor at consulting firm Klaros Group, to become its CEO. Hartheimer, a director at CardWorks, also has experience at the Federal Deposit Insurance Corp. and Promontory Financial Group. The hiring “marks a turning […]
ENB Financial in Pennsylvania to buy Cecil Bancorp in Maryland
ENB Financial in Ephrata, Pa., has agreed to buy Cecil Bancorp in Elkton, Md. The $2.3 billion-asset ENB said in a press release that it will pay $30.8 million in cash for the $222 million-asset Cecil. The deal is expected to close in the first quarter. Cecil has four branches, $192 in deposits, and $163 […]
Gouverneur Bancorp in N.Y. hires outsider as its CEO
Gouverneur Bancorp in Gouverneur, N.Y., will soon have a new CEO. The $196.7 million-asset company said in a press release that Stephen Jefferies will also become president on Sept. 2. Jefferies, who was president and CEO of Community Bank & Trust in LaGrange, Ga., will succeed Charles Van Vleet Jr., who is retiring. Van Vleet, who […]
America’s Credit Unions lines up next CEO
America’s Credit Unions will soon have a new leader. The trade association said in a press release that Scott Simpson will become its president and CEO on Nov. 3. Simpson, president and CEO of the California Credit Union League, Nevada’s Credit Unions, and Utah’s Credit Unions, will succeed Jim Nussle. He will be based in […]
AOD Federal Credit Union to buy Alabama branch from bank
AOD Federal Credit Union in Oxford, Ala., has agreed to buy a branch in Prattville, Ala., from Merchants & Farmers Bank of Greene County in Eutaw, Ala. The $442 million-asset credit union did not disclose how much it will pay the $123 million-asset bank for the branch. The deal also includes $15 million in deposits […]