Peoples Bank in Kansas sells farm management business
Farmers National in Omaha, Neb., bought the farm management business of Peoples Bank and Trust in McPherson, Kan. The acquisition includes more than 20,000 acres and brings Farmers National’s total in Kansas to over 400,000 managed acres. The price wasn’t disclosed “This acquisition aligns with our mission to provide solutions that improve profitability and long‑term […]
Itaú Bank seeks national bank charter
Itaú Bank has applied for a national bank charter. The application, filed with the Federal Deposit Insurance Corp. on March 16, said the bank would be based in Miami. It would be regulated by the Office of the Comptroller of the Currency. The application, which wasn’t immediately available, comes on the heels of Brazil’s Nu […]
Group planning Strategist Bank in New Hampshire
A group is planning a bank in Bedford, N.H. Organizers submitted an application to the Federal Deposit Insurance Corp. on March 13 to form Strategist Bank. The application wasn’t immediately available. A public notice tied to the application lists four organizers: Michael Simchik, Robert Pace, Dylan Cruess and James Pietro.
CSB Financial in Ohio to raise capital from mutual-to-stock conversion
CSB Financial in Bethel, Ohio, plans to raise up to $14.6 million as part of a plan to convert from a mutual to a stock-owned company. CSB, which would become the holding company for the $110.2 million-asset Community Savings Bank, plans to sell 935,000 to 1.3 million shares of common stock at $10 each. If […]
ABNB Federal Credit Union to buy two N.C. branches for Virginia bank
ABNB Federal Credit Union in Chesapeake, Va., has agreed to buy two North Carolina branches from First Bank of Virginia in Strasburg. The branches, located in Roanoke Rapids and Louisburg, had $52.9 million in deposits in mid-2025, according to data from the Federal Insurance Deposit Corp. The price wasn’t disclosed. The deal is expected to […]
Billy Beale retires after leading turnaround at Blue Ridge Bank in Va.
Billy Beale, who helped Blue Ridge Bancshares in Richmond, Va., get out from under an enforcement action and return to profitability, has retired. The company said in a press release that Beale retired on March 6 and stepped down from its board. Harry Golliday, the company’s chief credit officer, will serve as interim CEO. Beale, […]
Proposed United Development Bank in Washington gets FDIC approval
A proposed bank in Bellevue, Wash., has received conditional approval from the Federal Deposit Insurance Corp. Organizers of the proposed United Development Bank must raise $15 million before opening. The group, which aims to operate as a minority depository institution (MDI), applied to regulators in August. Charlie Guildner, a former president and CEO of North Cascades […]
Esquire Financial in N.Y. to buy Signature Bancorp. in Illinois
Esquire Financial Holdings in Jericho, N.Y., has agreed to buy Signature Bancorp. in Rosemont, Ill. The $2.8 billion-asset Esquire said in a press release that it will pay $348.4 million in stock for the $2 billion-asset Signature. The deal, which is expected to close in the third quarter, priced Signature at 153% of its tangible […]
First Guaranty in La. to exit Texas with branch sale to Armstrong Bank
Armstrong Bank in Muskogee, Okla., has agreed to buy five branches from First Guaranty Bancshares in Hammond, La. The $4.1 billion-asset First Guaranty will exit Texas after selling the locations, along with $270 million in deposits and $110 million in loans, to the $2.7 million-asset Armstrong. The deal, which includes a 7.65% deposit premium, is […]
Commercial lending fintech Voyager AI raises $500,000 in preseed round
Voyager AI, a startup focused on commercial lending software and founded by a former Associated Banc-Corp executive, raised $500,000 in a preseed round. The round was led by Mastercraft Ventures. Voyager AI’s software automates the lending process, helping with regulatory reviews, feasibility analysis, and internal documentation. The company is led by Aaron Colcord, a former […]
Fintech Upstart to apply for national bank charter
Upstart Holdings in San Mateo, Calif., will apply to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. for a national bank charter. The fintech also plans to become a bank holding company and form Upstart Bank. The charter will let Upstart reduce operational, regulatory, and financial costs and complexity for […]
Landmark Credit Union agrees to buy American National Bank-Fox Cities
Landmark Credit Union in Milwaukee has agreed to buy American National Bank-Fox Cities in Appleton, Wis. The$7 billion-asset credit union said in a press release that it expects to buy the $419 million-asset bank from parent American National Bancorp in the second half of this year. The price wasn’t disclosed. “This acquisition represents a meaningful […]
Union Bank in Vermont hires MVB exec as new CEO
Union Bank in Morrisville, Vt., has a new leader. The $1.6 billion-asset unit of Union Bankshares said in a press release that Jeff Weidley had become its president and CEO after an extensive search process. Weidley succeeded David Silverman, who retired. Weidley recently served as chief deposit officer at MVB Bank. “Union Bank has always […]
Carver in N.Y. rejects activist effort to vie for two board seats
Carver Bancorp in New York has rejected a new attempt by activist investor Dream Chasers Capital Group to nominate candidates to the board, the latest development in a long-running governance dispute. Carver said in a press release that Dream Chasers’ latest nomination notice failed to comply with the advance notice provisions outlined in the bank’s […]
Former Spirit of Texas CEO leading group looking to buy Houston bank
A group led by the former CEO of Spirit of Texas Bank has agreed to buy Lone Star Bank in Houston. Journey Financial Group said in a press release that it plans to buy the $191 million-asset Lone Star by the third quarter. The price wasn’t disclosed. Journey is led by Dean Bass and Kevin […]
Western Alliance: $126M payment shortfall triggers lawsuit and big chargeoff
Western Alliance Bancorp. in Phoenix has filed a lawsuit against Jefferies Financial Group and Leucadia Asset Management over $126.4 million in unpaid debt tied to bankrupt auto parts supplier First Brands. Western Alliance said in a press release that it will record a full charge-off in the first quarter after Jefferies failed to make a […]
Bradford National buys State Bank of St. Jacob in Illinois
Bradford National Bank in Greenville, Ill., has completed its acquisition of State Bank of St. Jacob in St. Jacob, Ill. The $655.6 million-asset Bradford National said it completed its purchase of the $87.6 million-asset State Bank of St. Jacob on Feb. 28. The price wasn’t disclosed. The combined institution is operating as Bradford National Bank.
Revolut applies for national bank charter
Revolut has applied for a national bank charter. The U.K. company said in a press release that it applied to the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. to create Revolut Bank US. Cetin Duransoy was named U.S. CEO, succeeding Sid Jajodia, who is now global chief banking officer. “Filing […]
Zerohash is latest crypto-focused firm to seek national trust bank charter
Add Zero Hash in Chicago to the list of companies applying to the Office of the Comptroller of the Currency for a national trust bank charter. The digital asset infrastructure firm, which operates as Zerohash, wants the charter to expand its role in digital asset custody and settlement services. Zerohash provides crypto infrastructure for banks, […]
Director resigns from MVB Financial in W.Va. over governance concerns
A director at MVB Financial resigned, citing disagreements with other board members over corporate governance, executive compensation, and the Fairmont, W.Va., company’s strategic direction. The company disclosed in a regulatory filing that Glen Herrick resigned on Feb. 26. He chaired the audit committee and was a member of the board’s finance committee. Cheryl Spielman was selected […]
WesBanco in W.Va. dangles equity incentive to shrink its board
WesBanco in Wheeling, W.Va., offered directors a one-time equity incentive as part of a plan to shrink its board. The company disclosed in a regulatory filing that it offered directors a voluntary retirement opportunity, awarding a one-time equity grant of restricted shares valued at $250,000 to each director who chose to retire. Three directors — […]
Independent Bank CEO Jeff Tengel shares lymphoma diagnosis
Jeff Tengel, the president and CEO of Independent Bank Corp. in Rockland, Mass., informed employees that he has been diagnosed with lymphoma but plans to keep leading the bank while undergoing treatment. Tengel wrote in the letter that he recently began chemotherapy. “I have recently been diagnosed with lymphoma,” Tengel wrote. “It’s not easy news […]
Emigrant in Fla. to buy Fortis Management Group in family office push
Emigrant Bancorp in Miami has agreed to buy a majority interest in Fortis Management Group in Boston. Emigrant said in a press release that the acquisition should close in April. The price wasn’t disclosed. The acquisition coincides with the launch of Emigrant Family Office, a newly formed business unit designed to deliver a highly specialized, […]
Kraken becomes first digital asset bank to gain Fed master account
Kraken Financial in Cheyenne, Wyo., has become the first digital asset bank to gain a Federal Reserve master account. Payward, the company behind Kraken Financial, said in a press release that, through its Fed master account, Kraken can connect directly to core U.S. payment rails, including Fedwire, without relying on intermediary banks. Kraken, a Wyoming-chartered […]
First Commercial Bank in Texas selects new leader
First Commercial Bank in Seguin, Texas, has a new leader. The $530 million-asset bank said in a LinkedIn post that James Long had become its CEO. Long, who has been the bank’s president, succeeded Mark Long, who was named chairman. Doug Miller was named vice chairman, while Mark Williams became chairman emeritus. “With this leadership […]