Bank of Charlotte County in Va. announces CEO’s retirement
Bank of Charlotte County in Phenix, Va., is saying goodbye to its leader. The $228 million-asset bank announced in a LinkedIn post that Dexter Gilliam will retire as president and CEO on June 1. The post did not identify his successor. “Dexter’s leadership, dedication, and commitment to our employees, customers, and communities has helped shape […]
Fintech GrailPay raises $10.5M in latest funding round
New York fintech GrailPay raised $10.5 million in Series A funding. The fintech, which is building a risk intelligence platform for ACH and bank payments, said the funding round was led by MissionOG and included participation EJF Ventures, Counterpart Ventures, Construct Capital, Commerce Ventures, and SSC Venture Partners. GrailPay said it plans to use the funds […]
Candescent finds next CEO
Candescent in Atlanta has a new leader. The platform said in a press release that Jason Edelboim had become its CEO, succeeding Brendan Tansill, who stepped down. Edelboim was CEO of iCIMS, an AI platform for talent acquisition. “Banking is moving from digital to intelligent, and Candescent is at the forefront of this shift,” Edelboim […]
Keweenaw Financial to buy Range Bank in Michigan merger
Keweenaw Financial in Hancock, Mich., has agreed to buy Range Financial in Marquette, Mich. Keweenaw, the parent of the $1.1 billion-asset Superior National Bank, said in a press release that it plans to buy the $635 million-asset holding company for Range Bank in the fourth quarter. The price of the all-stock deal wasn’t disclosed. Range […]
Colony in Georgia to buy First Reliance in S.C. for $163 million
Colony Bankcorp in Fitzgerald, Ga., has agreed to buy First Reliance Bancshares in Florence, S.C. The $3.9 billion-asset Colony said in a press release that it will pay $163 million in stock for the $1.1 billion-asset First Reliance. The deal, which is expected to close in the fourth quarter, priced First Reliance at 162% of […]
Proposed SoCal de novo gets conditional FDIC approval
Organizers of the proposed TriCoast Bank in Burbank, Calif., have received conditional approval from the Federal Deposit Insurance Corp. The group must raise $25 million in capital before the bank can open. Organizers originally applied with the FDIC and state regulator in October.
BCB in New Jersey suspends quarterly dividends
BCB Bancorp in Bayonne, N.J., has suspended its quarterly dividend as its new CEO looks to shore up capital. The company said ina press release that the suspension applies to common and preferred stock. The board also voted to suspend its 2026 amended and restated dividend reinvestment and stock purchase plan. “We will be undergoing […]
Ion Bank in Conn. makes Boston push with Cooperative Bank merger
Ion Financial in Naugatuck, Conn., has agreed to absorb Cooperative Bank in Boston. The $2.8 billion-asset Ion said in a press release that the $540 million-asset Cooperative will continue to operate as a division. Cooperative President and CEO John Battaglia will join Ion as president of the new division. The banks will create a $2.5 […]
North Shore in Wisconsin to buy PyraMax Bank parent
North Shore Bank in Brookfield, Wis., has agreed to buy 1895 Bancorp of Wisconsin in Greenfield. The $2.5 billion-asset North Shore said in a press release that it will pay $18.40 to $18.66 a share in cash for the parent of the $598 million-asset PyraMax Bank. The deal is expected to close in the fourth […]
South Plains in Texas lines up new CEO
South Plains Financial in Lubbock, Texas, will end this year with new leadership. The company said in a press release that Cory Newsom will become its CEO on Dec. 31. Newsom South Plains’ president, will succeed Curtis Griffith, who will retire. “Our leadership transition has been the result of many years of deliberate planning, and […]
Georgia Banking, Climate First complete capital raises
Georgia Banking Co. in Atlanta and Climate First Bancorp in St. Petersburg, Fla., raised capital. Georgia Banking said in a press release that it completed a $77.7 million private placement of primary and secondary shares, led by funds managed by affiliates of Fortress Investment Group. The company plans to use proceeds to support continued growth […]
MidFirst in Oklahoma to buy Dallas Capital Bank
MidFirst Bank in Oklahoma City has agreed to buy Dallas Capital Bank. The $42 billion-asset MidFirst did not disclose how much it will pay for the $1.2 billion-asset Dallas Capital. “Dallas is one of the most dynamic banking markets in the country, and Dallas Capital Bank has built exactly the kind of relationship-focused culture that […]
ODNB in Virginia to buy D.C.’s oldest bank
ODNB Financial in Tysons Corner, Va., has agreed to buy National Capital Bancorp in Washington, D.C. The $1.6 billion-asset ODNB said in a press release that it will pay $98 million in cash and stock for the $735.3 million-asset parent of National Capital Bank of Washington. The deal is expected to close in the fourth […]
Peoples Bancorp to buy Bank of Rantoul in Illinois bank merger
Peoples Bancorp in Newton, Ill., has agreed to buy Bancorp of Rantoul in Rantoul, Ill. The $729 million-asset Peoples expects to buy the parent of the $284 million-asset Bank of Rantoul in the fourth quarter. The price of the all-cash deal wasn’t disclosed. Bank of Ratoul has two branches. Rantoul Chairman and co-CEO Denny Long […]
Former Fiserv chief named next CEO of Truist in North Carolina
Truist Financial in Charlotte, N.C., has a new leader lined up. The company said in a press release that Mike Lyon will succeed Bill Rogers as president and CEO on Sept. 1. Lyon was CEO of Fiserv. Rogers, who has served as Truist’s CEO since September 2021, will serve as executive chairman until he retires […]
Ameris in Ga. faces $80M jury verdict in wrongful termination case
Ameris Bancorp is facing a potentially material legal setback after a federal jury in California awarded nearly $80 million in damages to a former executive who sued the Atlanta company over his termination. Ameris disclosed in a regulatory filing that Patrick Byrne filed a complaint on September 2024 against its bank in the U.S. District […]
United Community in S.C. to sell equipment finance business for $1.9 billion
United Community Banks in Greenville, S.C., agreed to sell its equipment finance business to funds managed by Wafra Inc., acting through Navitas TopCo. The $28.2 billion-asset United said in a press release that it is selling Navitas Capital for $1.9 billion in cash, resulting in a one-time pretax earnings benefit of $109 million. The sale […]
Isabella to buy Grand River Commerce in Michigan bank merger
Isabella Bank in Mt. Pleasant, Mich., has agreed to buy Grand River Commerce in Grandville, Mich. The $2.3 billion-asset Isabella said in a press release that it will pay $54.6 million in cash and stock for the $511.7 million-asset Grand River. The deal, which is expected to close in the fourth quarter, priced Grand River […]
Proposed Puerto Rican bank to focus on housing, digital banking
A group of organizers is seeking regulatory approval to launch Dorado Bank, a proposed Puerto Rico-chartered bank that would focus on residential mortgage lending, housing rehabilitation and digital banking. Organizers of the proposed Dorado Bank applied on May 26 with the Federal Deposit Insurance Corp. and the Puerto Rico Office of the Commissioner of Financial […]
Neobank Current raises $80 million in latest funding round
Neobank Current raised $80 million in a new funding round. The consumer fintech platform said in a statement that the Series E round was led by Springcoast Partners, establishing a $1.5 billion valuation. Springcoast will appoint a director as part of the investment. Earlier investors include Andreessen Horowitz, Tiger Global Management, and QED Investors. Current, […]
BancFirst to buy Spirit Bank in Oklahoma
BancFirst in Oklahoma City has agreed to buy Spirit BankCorp. in Tulsa, Okla. The $15 billion-asset BancFirst said in a press release that it expects to buy the parent of the $939.6 million-asset SpiritBank in the fourth quarter. The price wasn’t disclosed. Spirit Bank has $618.4 million in loans and $847.2 million in deposits. “Oklahoma […]
SVB sues Patriot over $21M Parker card receivables dispute
Silicon Valley Bank filed a lawsuit against Patriot Bank in Stamford, Conn., over roughly $21 million in charge card receivables from Parker, a failed small business fintech that shut down abruptly in May 2026. The dispute, filed by the First Citizens BancShares division in U.S. District Court for the Southern District of New York in […]
De novo Cornerstone Community Bank opens in Kentucky
Cornerstone Community Bank has opened in Owensboro, Ky. Organizers raised the $20 million in initial capital that the Federal Deposit Insurance Corp. required when it gave conditional approval in February. The application was submitted in August. Kyle Aud, a former market president at German American Bank, is CEO. Jonathan Lawson, a former chairman and president […]
AI-focused fintech AI raises $3 million in latest funding round
Titan, a fintech that helps financial institutions with the security, explainability, and domain expertise challenges with artificial intelligence, raised $3 million in new funding. Titan said in a press release that the funding round, led by Entropy Ventures, will support hiring as the fintech expands and builds banking‑native AI infrastructure. The fintech emerged from stealth […]
Truist adds former BofA exec Cathy Bessant to its board
Truist Financial in Charlotte, N.C., added a heavy hitter to its board. The company said in a press release that Cathy Bessant had become a director and will serve on its risk committee. Bessant, who recently served as CEO of Foundation for the Carolinas, was a long-time Bank of America executive. She retired as BofA’s […]