Marquette National in Chicago selects insider as its CEO
Marquette National in Chicago has a new leader. The $2 billion-asset company said in a press release that Betty Harn also became its president. Harn, who was an executive vice president, succeeded George Moncada, who will remain a senior advisor and director. “Betty’s leadership, strategic thinking and dedication are key attributes that will guide her […]
BayFirst in Fla. ends Bolt 7(a) program, suspends quarterly dividends
BayFirst Financial in St. Petersburg, Fla., has ended an SBA lending program and suspended quarterly dividends. The $1.3 billion-asset company said in a press release that it had discontinued its Bolt 7(a) SBA program. The program was designed to provide expedited small balance loans to small businesses, typically used for working capital. BayFirst said it […]
Simmons in Arkansas to have new CEO in 2026
Simmons First National in Pine Bluff, Ark., will have a new leader next year. The company said in a press release that George Makris Jr. will retire on Dec. 31. Jay Brogdon, the company’s president, will become CEO and join the board on Jan. 1. Marty Casteel, a former chairman, CEO, and president of Simmons Bank, […]
Adriana Kugler to step down from Federal Reserve Board
Adriana Kugler is resigning as governor of the Federal Reserve Board. Kugler, who has been a governor since September 2023, will step down on Aug. 8. She plans to return to Georgetown University as a professor this fall. “It has been an honor of a lifetime to serve on the Board of Governors of the […]
Fulton Financial in Pa. says its president will retire at yearend
Fulton Financial in Lancaster, Pa., announced that its president is retiring. The $32 billion-asset company said in a press release that Angela Snyder will retire on Dec. 31. There was no announcement about her successor. “Throughout her time at Fulton, Angela has been a pillar of strength, vision, and integrity. Her leadership has helped shape […]
Mode Eleven director has highest bid to buy its bank out of bankruptcy
A director of Mode Eleven Bancorp was the highest bidder for its bank. Summit National Bank in Hulett, Wyo., was put up for auction as part of a bankruptcy process. Court documents revealed that Victor Remsha had the highest bid, at about $5.5 million. Mode Eleven filed for Chapter 11 bankruptcy protection on June 9 […]
Scharf set to become chairman of Wells Fargo
Charlie Scharf is set to become chairman of Wells Fargo after navigating the San Francisco company out of several regulatory orders. The $2 trillion-asset Wells said in a press release that its board intends to appoint Scharf, the company’s CEO, to become chair. The board said it plans to appoint a lead independent director in […]
Oconee State in Ga. hires former bank president to run key market
Oconee State Bank in Watkinsville, Ga., recruited a veteran banker as market president for Middle Georgia. The $646 million-asset bank hired Andy Flowers to fill the position. Flowers just stepped down as president of American Pride Bank in Macon, Ga. “Leaving American Pride is bittersweet but looking forward to the next chapter of my life,” […]
Bank Midwest in Iowa reportedly closing its digital OnePlace Bank
Bank Midwest in Spirit Lake, Iowa, has decided to shut down its digital bank division. Keith Sexe, who was vice president of OnePlace Bank, disclosed the $1.3 billion-asset bank’s decision in a LinkedIn post. “While it wasn’t the outcome I expected, I’m incredibly proud of what we accomplished, and deeply grateful to Bank Midwest for […]
Peoples Savings applies to buy farmbank in Missouri
Peoples Savings Bank in Rhineland, Mo., has applied to buy farmbank in Green City, Mo. The $678.8 million-asset Peoples has submitted its application with the Federal Deposit Insurance Corp. to acquire the $78.1 million-asset farmbank. A June press release announcing the deal did not disclose the price Peoples will pay. The transaction is expected to […]
First Missouri buys Clay County Savings Bank
First Missouri Bancshares in Brookfield bought Clay County Savings Bank in Liberty, Mo. First Missouri, the parent of the $471.3 million-asset Verimore Bank, did not disclose how much it paid for the $137.3 million-asset Clay County Savings. “This merger represents a significant milestone in our growth strategy,” Kristie Stuewe, Verimore’s president and CEO, said in […]
First Foundation posts 2Q loss after selling CRE loans
First Foundation in Dallas posted a quarterly loss as new management attempts a turnaround. The $11.6 billion-asset company lost $7.7 million in the second quarter after selling about $858 million of commercial real estate loans held for sale in two transactions at a 6% discount. The move reduced the company’s CRE concentration to roughly 365% […]
1st Source in Ind. sets stage for CEO succession this fall
Leadership is shuffling at 1st Source in South Bend, Ind. The $9.1 billion-asset company said in a press release that Andrea Short will become president and CEO on Oct. 1. Short, who will remain CEO of 1st Source Bank, will succeed Christopher Murphy III, who is retiring. Murphy will become executive chairman. Kevin Murphy, the […]
CFPB seeks stay in data rule lawsuit as it plans new rulemaking
The Consumer Financial Protection Bureau has filed a motion to stay proceedings in a lawsuit brought by Forcht Bank, the Kentucky Bankers Association, and the Bank Policy Institute over last year’s rule on personal financial data rights. The plaintiffs, the U.S. District Court for the Eastern District of Kentucky, are challenging the rule on administrative […]
PeoplesBancorp to absorb Athol Savings Bank in Massachusetts
PeoplesBancorp in Worcester, Mass., has agreed to buy Athol Savings Bank in Athol, Mass. PeoplesBancorp, through its $1.7 billion-asset Cornerstone Bank, expects to buy the $650 million Athol Savings in the first quarter. The financial details were not disclosed. Athol Savings will operate as a division of Cornerstone Bank. “This is an incredibly exciting time […]
Campbell County Bank to buy Farmers State Bank in South Dakota
Campbell County Bank in Herreid, S.D., has applied to buy Farmers State Bank in Hosmer, S.D. The $215.3 million-asset Campbell County applied with the Federal Deposit Insurance Corp. on July 23 to buy the $21.7 million Farmers State Bank. The price wasn’t disclosed.
Park National in Ohio selects insider as next CEO
Park National in Newark, Ohio, will have a new CEO in 2026. The $9.9 billion-asset company said in a press release that Matthew Miller will take over its top spot on Jan. 1. Miller, who will remain president, will succeed David Trautman, who will continue to serve as chairman. “I have worked closely with Matt […]
Group files for form de novo bank in Florida
A group in Florida is looking to form a bank in Clearwater. Organizers of the proposed Echelon Bank submitted an application to the Federal Deposit Insurance Corp. on July 23. The application wasn’t immediately available. Robert Shaw recently shared on his LinkedIn profile that he would be the proposed bank’s CEO. He stepped down as […]
Seneca Bancorp in N.Y. plans to convert to stock-owned company
Seneca Bancorp in Baldwinsville, N.Y., is looking to raise up to $12.3 million as it looks to convert from a mutual holding company to a stock holding company. The $280.2 million-asset company disclosed in a regulatory filing that it plans to sell 892,500 to 1.2 million shares of common stock at $10 each. It could […]
Business First sells Louisiana branch and $50M of deposits
Business First Bancshares in Baton Rouge, La., sold a branch. The $7.9 billion-asset company said in a press release that it sold a location in Kaplan, La., to an unnamed bank for a net capital injection of $3.4 million. The sale, which closed in early April, included $50.7 million of deposits that landed an 8% […]
Trustmark seeking Mississippi state charter for its bank
Trustmark in Jackson, Miss., plans to convert to having a state-chartered bank. The company disclosed in a regulatory filing that Trustmark National Bank would switch from a national banking association. Trustmark said it already received approval to become a member of the Federal Reserve System. The application is pending with the Mississippi Department of Banking […]
Comerica investors pushing company to find a buyer
Comerica in Dallas is facing pressure from an investor to find a buyer. HoldCo Asset Management in Florida, which owns about 1.8% of the $tk billion-asset company’s stock, released a presentation urging a sale to maximize shareholder value. “The firm has also been vocal with bank positions in the past,” Scott Siefers, an analyst at […]
America First Credit Union plans big purchase of Meadows Bank in Nev.
America First Credit Union in Riverdale, Utah, has agreed to buy Meadows Bank in Las Vegas. The $22.5 billion-asset credit union said in a press release that it plans to rebrand the $1.4 billion-asset Meadows as Meadows Financial to operate as a division. The price wasn’t disclosed. Meadows has six branches in Nevada and Arizona.
U.S. Eagle FCU deal to buy Southwest Capital Bank falls through
U.S. Eagle Federal Credit Union in Albuquerque, N.M., is no longer set to buy Southwest Capital Bank in Albuquerque. The $1.5 billion-credit union agreed last August to buy the $434 million-asset Southwest Capital in a deal that was expected to close in the second quarter. Chez Steel, Southwest Capital’s CEO, indicated that the recent losses at […]
Big paydays, big titles: Exec payments revealed for Pinnacle–Synovus
The pending sale of Synovus Financial in Columbus, Ga., to Pinnacle Financial Partners in Nashville, Tenn., includes a series of high-stakes compensation arrangements for the team that will lead the newly combined company. The $54.8 billion-asset Pinnacle announced last week that it would pay $8.6 billion in stock for the $61 billion-asset Synovus in a deal […]