Failed bank’s former CEO pleads guilty to fraud charge
A former president and CEO of First National Bank of Lindsay pleaded guilty to a single count of bank fraud. The Oklahoma bank failed in October 2024 and was sold to First Bank & Trust in Duncan, Okla. Danny Seibel, who was fired as the bank’s CEO a month before it failed, was indicted last […]
Tri-County Bancorp to buy Mayville Financial in Michigan
Tri-County Bancorp in Brown City, Mich., has agreed to buy Mayville Financial in Mayville, Mich. The parent of the $639 million-asset Tri-County Bank said in a press release that it expects to close the purchase of the $97 million-asset Mayville State Bank in the fourth quarter. The price wasn’t disclosed. “We see in Mayville State […]
SMB-focused fintech Parker shuts down, seeks bankruptcy protection
Parker, a fintech that focused on SMB banking and credit cards, shut down and filed for Chapter 7 bankruptcy protection. The company, which was backed by Valar Ventures, Y Combinator and others, offered a credit card, bill pay, and treasury management services to ecommerce-oriented small businesses. The fintech had partnered with Piermont Bank in banking […]
Partners Bank of California promotes insider as new CEO
Partners Bank of California in Mission Viejo has a new CEO. The bank said in a press release that Michael Chambers will remain its president. He had also been the chief banking officer. “Mike’s promotion reflects the confidence the Board has in his leadership, experience, and commitment to the bank,” Mike Ahmar, the bank’s executive […]
Dime in New York launches equipment and franchise finance group
Dime Commercial Bancshares in Hauppauge, N.Y., has created an equipment and franchise finance group. The company said in a press release that the group will be led by Keith Smith and will focus on middle-market companies and experienced franchise operators. “Launching this new specialty reflects our continued commitment to disciplined and diversified growth,” Stuart Lubow, Dime’s […]
Cambridge Financial in Mass. to buy First Seacoast in New Hampshire
Cambridge Financial Group in Cambridge, Mass., has agreed to buy First Seacoast Bancorp in Dover, N.H. The $7 billion-asset Cambridge said in a press release that it will pay $80.9 million in cash for the $599 million-asset First Seacoast. The deal is expected to close in the third quarter. “At the heart of both institutions […]
OptimumBank in Florida shakes up top leadership
OptimumBank Holdings in Ft. Lauderdale, Fla., has shaken up its management. The company disclosed in a regulatory filing that Timothy Terry had retired as principal executive officer and has president and CEO of its bank. Moishe Gubin, OptimumBank Holdings’ chairman, was named CEO of the company and bank. Braden Smith was named the bank’s president. […]
Zions in Utah to report big gain from selling Visa shares
Zions Bancorp. in Salt Lake City will report a big gain from selling Visa stock. The Salt Lake City company disclosed in a regulatory filing that it sold 460,000 shares it gained in 2007 tied to Visa’s restructuring and public offering. Zions said it will report a $215 million pretax gain from the sale in […]
JPMorgan Chase hires exec to oversee blockchain business
JPMorgan Chase in New York brought back a former executive to run its blockchain business. Oli Harris shared on LinkedIn that he was named head of Kinexys. “The focus ahead: expand our digital settlement infrastructure and tokenization capabilities, strengthen partnerships across public and private networks, and drive innovation at the intersection of TradFi and digital assets,” […]
Fintech Otoma launches with leadership from Fundtech
Otoma, a payments-focused fintech, has new leadership as part of its official launch. The New York fintech said in a press release that Peter Reynolds had become CEO and Reuven Ben Menachem is now chairman. Both had senior roles at Fundtech, a payments technology provider. “Otoma is positioning its platform as an AI-native alternative to […]
Kirkpatrick Bank in Oklahoma selects insider as next CEO
Kirkpatrick Bank in Oklahoma City has a new leader. The bank said in a press release that Kyle Powell had become its president and CEO. Powell, who had been an executive vice president, succeeded George Drew, who is now vice chairman. Drew had been president and CEO of 19 years.
BayFirst in Fla. recapitalizes, replaces CEO
BayFirst Financial in St. Petersburg, Fla., has a new investor and new leadership. The $1.2 billion-asset company said in a press release that it raised $80 million in a private investment of convertible preferred stock. BayFirst also announced that Alfred Rogers had become president and CEO of its bank and will also assume those roles […]
Interra Credit Union in Ind. agrees to buy Ohio bank
Interra Credit Union in Goshen, Ind., has agreed to buy The Hicksville Bank in Ohio. The $2 billion-asset Interra did not disclose what it will pay for the $217 million-asset bank. “This marks an important step in our journey and reflects a shared commitment to community banking, personal relationships, and long-term service,” the bank said […]
Community Bank and Trust – West Georgia is 2026’s second bank failure
Community Bank and Trust – West Georgia in LaGrange became the second bank to fail this year. The $288 million-asset bank was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC struck a deal to sell substantially all the insured deposits and certain […]
Virginia banks sell interest in insurance agency
A trio of Virginia banks sold their interests in an insurance agency. The companies disclosed in separate regulatory filings that they sold stakes in Bearing Insurance Group to an unnamed third party. Carter Bankshares in Martinsville said it expects to recognize a $35.8 million pretax gain that would be recognized in the second quarter. National […]
Banner to buy Pacific Financial in merger of Washington banks
Banner Corp. in Walla Walla, Wash., has agreed to buy Pacific Financial in Aberdeen, Wash. The $16.3 billion-asset Banner said in a press release that it will pay $177 million in stock for the parent of the $1.3 billion-asset Bank of the Pacific. The deal, which is expected to close in the third quarter, priced […]
Bank Iowa hires South Dakota executive as next CEO
Bank Iowa in West Des Moines found an outsider to become its next leader. The $2.4 billion-asset bank said in a press release that Jason Herrboldt will become president and CEO. Herrboldt, chief banking officer at First Bank & Trust in Brookings, S.D., will succeed Jim Plagge, who is retiring. Plagge, who has been president […]
Hawthorn Bancshares to buy FSC Bancshares in Missouri
Hawthorn Bancshares in Jefferson City, Mo., has agreed to buy FSC Bancshares in Cameron, Mo. The $1.8 billion-asset Hawthorn said in a press release that it will pay $28.3 million in cash and stock for the parent of the $384 million-asset Farmers State Bank. The deal is expected to close in the third quarter. Hawthorn […]
First Mid in Illinois looks internally for next CEO
First Mid Bancshares in Mattoon, Ill., will soon have a new CEO. The $9.3 billion-asset company said in a press release that Matthew Smith will succeed Joseph Dively on July 1. Smith will remain president; Dively will continue as chairman. “I am honored to step into this role and build on the foundation established under Joe’s […]
Coastal in Wash. disclosed partnership with de novo Erebor Bank
Coastal Financial in Everett, Wash., quietly added de novo Erebor Bank to its roster of correspondent partners. Erebor, which opened in February after receiving speedy charter approval, is included in a slide in Coastal’s latest earnings presentation. The slide didn’t specify what types of services are being used. Erebor has been the subject of speculation […]
Coastal in Wash. eyes Evolve BaaS programs in potential deal
Coastal Financial in Everett, Wash., is exploring a potential expansion of its Banking-as-a-Service business through a deal with Evolve Bank & Trust in West Memphis, Ark. The $5.7 billion-asset Coastal disclosed in a regulatory filing that it entered into a nonbinding term sheet with Evolve covering a range of BaaS programs that Coastal may buy. […]
Fintech OppFi agrees to buy BNC National Bank in Arizona
Digital finance platform OppFi has agreed to buy BNCCORP in Glendale, Ariz. The Chicago fintech said in a press release that it will pay $130 million in cash and stock for the parent of the $1.1 billion-asset BNC National Bank. The deal is expected to close in the fourth quarter. The acquisition “unlocks significant opportunities […]
Seacoast in Florida repositioned securities portfolio in first quarter
Seacoast Banking Corp. of Florida in Stuart reported flat earnings after selling underperforming securities. The $20.8 billion-asset company said in a press release that profit rose nominally from a year earlier, to $31.9 million, after it absorbed a $39.5 million loss from selling securities in January. Seacoast sold about $277 million in low-yielding securities. Seacoast […]
Western & Southern buys fintech Till Financial
Insurer Western & Southern Financial Group bought Till Financial, a fintech platform that helps parents guide their children’s spending habits. Western & Southern did not disclose the price it paid for Till, which was founded in 2018. “Families today need more than products – they need practical, modern solutions that help build financial confidence in […]
Bastrop Bancshares to buy Columbus Bancorp in Texas bank merger
Bastrop Bancshares in Bastrop, Texas, agreed to buy Columbus Bancorp in Columbus, Texas. Bastrop, the parent of the $1.1 billion-asset First National Bank of Bastrop, said in a press release that it will pay an undisclosed cash amount for the holding company of the $154.8 million-asset First State Bank. The deal is expected to close […]