Equity Bancshares in Kansas to buy Lincoln Bancorp in Iowa
Equity Bancshares in Wichita, Kan., has agreed to buy Lincoln Bancorp in Reinbeck, Iowa. The $7.7 billion-asset Equity said in a press release that it will pay $123.8 million in cash and stock for the $1.7 billion-asset parent of Lincoln Savings Bank. The deal is expected to close in the fourth quarter. “This partnership marks […]
First National of Nebraska to buy InBankshares in Colorado
First National of Nebraska in Omaha has agreed to buy InBankshares in Denver. First National, part of the $35 billion-asset First National of Nebraska, said in a press release that it will pay between $200 million and $204 million in cash for the parent of the $1.4 billion-asset InBank. InBankshares shareholders may receive a special […]
TabaPay raises $155M, agrees to buy Transact Bank in Denver
TabaPay in Palo Alto, Calif., raised $155 million and agreed to buy Transact Bank in Denver. The money movement platform said in a press release that the funding round was led by FTV Capital. The $6.5 million-asset bank would be rebranded as TabaBank if the acquisition closes; the price wasn’t disclosed. TabaHoldings is the proposed […]
Earned-wage fintech Immediate raises $13 million in new funding round
Immediate, an earned wage access and financial wellness platform, closed a $13 million Series B led by BankTech Ventures. The Birmingham, Ala., fintech said in a press release that Castle Creek Launchpad and BankSouth also participated in the funding round. Immediate also expanded its existing working capital facility with Always.bank. The capital will be used […]
Former FDIC chairman William Isaac dies
William Isaac, the former Federal Deposit Insurance Corp. chair who steered the agency through financial turbulence of the 1980s, died Friday at age 82 from complications related to Lewy body dementia. Isaac’s death came just months after he retired from Sarasota Private Trust. Isaac was appointed to the FDIC board in 1978 and later named […]
Mid Penn in Pennsylvania adds Gregory Braca to its board
Mid Penn Bancorp in Pennsylvania is adding a familiar name in area banking to its board. The $7 billion-asset company said in a press release that Gregory Braca will join its board on Sept. 16 Braca led TD Bank’s U.S. retail, commercial, and specialty banking operations as president and CEO of the $400 billion-asset institution. He […]
Essex Mortgage seeks bank charter in Texas
Essex Mortgage is seeking a bank charter. The business, legally known as Data Mortgage, applied with the Federal Deposit Insurance Corp. and the Texas Department of Banking to open Bank Elevated in Frisco. The applications were not immediately available.
BayFirst in Florida looks to raise $14M via rights offering
BayFirst Financial in St. Petersburg, Fla., plans to raise up to $14.4 million through a rights offering. The $1.1 billion-asset company said in a press release that it plans to sell about 4.1 million shares of common stock to existing shareholders at $3.50 a share. “We are excited for the next step in the recapitalization […]
Farmers & Merchants in Calif. restructures balance sheet
Farmers & Merchants Bank of Long Beach in California expects to report a net loss in the third quarter after restructuring its balance sheet. The bank said in a press release that it sold about $1 billion of low-yielding municipal bonds at a pretax loss of about $85 million. A portion of the proceeds were […]
Security National in Iowa lines up next CEO
Security National in Sioux City, Iowa, has a new leader lined up. The company said in a press release that Jeremy Craighead will become chairman, president, and CEO when D. Douglas Rice retires on Sept. 1. Rice will remain on the company’s board. Craighead is president of Security National Bank. “We are well positioned for […]
Luminate Bank in Minn. to buy mortgage operation
Luminate Bank in Falcon Heights, Minn., has agreed to buy First State Mortgage Services. The $554 million-asset Luminate said in a press release that it will buy assets from the business and will retain members of its team. The price wasn’t disclosed. “This is an important step forward for Luminate Bank and a powerful combination […]
Mutual Federal in Chicago plans second-step conversion
Mutual Federal Bancorp in Chicago is planning a second-step conversion to a fully stock-owned holding company. The parent of Mutual Federal Bank said in a press release that its mutual holding company currently owns about 77% of its outstanding common stock. The proposed conversion is expected to take place in the first quarter. Vedder Price […]
Home Federal in Tennessee promoting insider as next CEO
Home Federal Bank in Knoxville, Tenn., will start 2027 with a new leader. The bank said in a press release that Jonathan Mayfield will become its CEO when David Reynolds retires in December. Reynolds will remain chairman. Mayfield will remain president, a role he has held since 2025. “Jonathan brings a unique perspective on servant […]
First Financial in Indiana to buy First Illinois in $111 million deal
First Financial in Terre Haute, Ind., has agreed to buy First Illinois Corp. in Decatur. The $6.2 billion-asset First Financial said in a press release that it will pay $111.3 million in cash and stock for the parent of the $717 million-asset Hickory Point Bank. The deal, which is expected to close in the fourth […]
Zerohash resubmits national trust bank charter application
Zerohash in Chicago has resubmitted its application for a national trust bank charter. The crypto infrastructure provider’s initial application was returned in mid-July by the Office of the Comptroller of the Currency, which cited “insufficient materials.” Because the issue was an administrative error instead of substantial issues, Zerohash was able to quickly resubmit. The new […]
Mission Valley Bancorp in Calif. sets up next stage in succession plan
Mission Valley Bancorp in Sun Valley, Calif., has a new president. The company said in a press release that Brian Carlson had also become president and CEO of Mission Valley Bank. Carlson, who was managing director of SBA and president of total SBA, succeeded Tamara Gurney. Gurney, who remains the company’s CEO, will also become […]
Gulf Winds Credit Union in Fla. to buy bank, rebrand
Gulf Winds Credit Union has agreed to buy Madison County Community Bank in Madison, Fla. The $1.3 billion-asset credit union said in a press release that it will also rebrand as TruWorth Credit Union beginning in the spring. Gulf Winds didn’t disclose how much it will pay Madison Community Bancshares for its $212 million-asset bank. […]
Gateway Commercial in Ariz. to split top roles after leader retires
Gateway Commercial Bank in Mesa, Ariz., will split the president and CEO roles after James Christensen retires next year. The $231.4 million-asset bank said in a LinkedIn post that Christensen will retire in June 2027. He will remain on the board. Josh Flake, Gateway’s chief credit officer, will become CEO. Scott Morris, a market president, […]
Investor group plans to buy Bank of Hazlehurst in Georgia
An investor group has agreed to buy Hazlehurst Investors, the parent of Bank of Hazlehurst in Georgia. Brighton Capital, an Alpharetta, Ga., group led by former Piedmont Bank executive Taylor Watson, aims to buy the $134 million-asset bank. The deal is expected to close in the fourth quarter. The price wasn’t disclosed. The group plans […]
Cashmere Valley Bank in Wash. hires outsider as CEO
Cashmere Valley Bank in Cashmere, Wash., which has been facing investor pressure to sell, has a new CEO. The $2.3 billion-asset Cashmere Valley said in a press release that LenDevaisher will join the bank on Oct. 5 and succeed Greg Oakes on Dec. 31. Devaisher was president and chief operating officer of MidWestOne Bank in […]
American Savings Bank in Hawaii sets stage for IPO
American Savings Bank in Honolulu has filed a registration statement in advance of its planned initial public offering. The $9 billion-asset American Savings, which has been owned by a private group since it bought the bank from Hawaiian Electric Industries in late 2024, filed its paperwork with the Office of the Comptroller of the Currency […]
Profinium to buy F&M Community Bank in Minnesota bank merger
Profinium Financial Holdings in Fairmont, Minn., has agreed to buy F&M Community Bank in Preston, Minn. The parent of the $533.1 million Profinium Bank did not disclose the price it will pay for the $211.1 million-asset F&M. F&M has four branches, $184 million in deposits and $148 million in loans. “Profinium was the best fit […]
Valley in New York to make Chicago push with Providence acquisition
Valley National Bancorp in New York has agreed to buy Providence Financial in South Holland, Ill. The $66 billion-asset Valley said in a press release that it will pay $247 million in cash and stock for the $1.6 billion-asset Providence. The deal, which is expected to close in early 2027, priced Providence at 145% of […]
SouthPoint in Alabama hit with written agreement with Fed, state regulator
SouthPoint Bancshares in Birmingham, Ala., is dealing with a written agreement with its regulators. The $1.7 billion-asset company entered into the enforcement action with the Federal Reserve and the Alabama State Banking Department. The bank already has a consent order with the Federal Deposit Insurance Corp. tied to credit risk management and asset quality. The […]
Connecticut Community Bank hires banking vet as new CEO
Connecticut Community Bank in Norwalk has a new leader. The bank announced that Lou Garcia had succeeded David Tralka as its president and CEO. Garcia, a former director at Fieldpoint Private, most recently led a group looking to form a de novo bank. Organizers of New Canaan Bank received a temporary certificate of authority from […]