Avadian Credit Union in Ala. selects its next CEO
Avadian Credit Union in Hoover, Ala., has a new leader lined up. The $1.3 billion-asset credit union said in a press release that it hired Brant Malone as its next president and CEO. Malone, who was chief financial officer at Robins Financial Credit Union in Warner Robins, Ga., will succeed Linda Cencula, who plans to […]
TCM Bank in Florida discloses CEO’s departures
TCM Bank in Tampa, Fla., announced that its CEO had resigned. The $325 million-asset bank, a unit of ICBA Payments, said in a LinkedIn post that Damon Moorer also stepped down as its president. He had been CEO for the past eight years. “Damon has served as a pivotal force behind the growth and success […]
City National in Miami forms national capital markets group
City National Bank of Florida in Miami has created a national capital markets group. The $26.1 billion-asset bank said in a press release that BciCapital will focus on serving middle-market sponsors across a variety of industries and segments. Its services will include loan syndications, capital placement and specialty capital. BciCapital is led by Raul Llanes, […]
Cross River parent adds retired financial execs to its board
CRB Group in Fort Lee, N.J., has added three directors. The parent of the $8.9 billion-asset Cross River Bank said in a press release that Roland Fryer, Richard Laxer and Gabrielle Vitale had joined its board. Laxer retired as chairman and CEO of GE Capital in 2018. Vitale was global chief compliance and ethics officer […]
Texas Capital in Dallas forms direct-lending division
Texas Capital Bancshares in Dallas has created a new private credit division. The $29.1 billion-asset company said in a press release that Texas Capital Direct Lending will focus on middle-market companies and private equity sponsors in Texas. The division will emphasize senior secured floating-rate term loans. The division will lend to companies with $5 million […]
Customers in Pa. written agreement flags digital assets, BSA oversight
Customers Bancorp in West Reading, Pa., must improve its risk management practices for its digital asset strategy under a written agreement with the Federal Reserve. The $20.9 billion-asset company must also address deficiencies in its Bank Secrecy Act and anti-money laundering compliance. The agreement also noted shortcomings following regulations tied to the Treasury Department’s Office […]
Truist becomes title sponsor to North Carolina-based PGA tournament
Truist Financial in Charlotte, N.C., reached a seven-year agreement to become the title sponsor of the PGA Tour’s golf tournament in the bank’s headquarters city. After being held in Philadelphia next year, the newly renamed Truist Championship will return to the Quail Hollow Club starting in 2026. The course will host the PGA Championship next […]
Security Bancshares in Tenn. to buy Bank of Ripley
Security Bancshares in Paris, Tenn., has agreed to buy Bancshares of Ripley in Ripley, Tenn. Security is the $1.2 billion-asset parent of Security Bank and Trust, while Bancshares of Ripley is the holding company for the $280.1 million-asset Bank of Ripley. The merger was announced by Performance Trust Capital Partners, which was an advisor for […]
Bennington State Bank in Kan. to top $1B in assets with Alliance Bank purchase
Berco in Salina, Kan., has agreed to buy New Millennium Bankshares in Topeka, Kan. Berco, the parent of the $994 million-asset Bennington State Bank, said it expects to buy the holding company for the $149 million-asset Alliance Bank in the fourth quarter. The price wasn’t disclosed. Alliance Bank has two branches. Olsen Palmer and Stinson […]
Orrstown in Pennsylvania to close six branches
Orrstown Financial Services in Harrisburg, Pa., plans to close six branches in Pennsylvania and Maryland. The $2.2 billion-asset company said in a regulatory filing that one branch will close in the third quarter. The rest will likely close in the fourth quarter. The closures will result in a one-time pretax charge of about $534,000. The […]
FDIC provides conditional approval for New York de novo effort
The Federal Deposit Insurance Corp. has given conditional approval for a de novo bank planned in White Plains, N.Y. Organizers of Greater Gotham Bank must raise $50 million in capital before opening. The group applied with regulators on Jan. 2 to open the bank. A public notice tied to the application listed seven organizers: Laurence […]
Optus Bank in S.C. splits CEO, president roles
Optus Bank in Columbia, S.C., has a new president. The black-owned bank said in a press release that Benita Lefft had taken on the role. Lefft, who was Optus’ chief operations officer, succeeded Dominik Mjartan, who remains CEO. Lefft will remain COO, while Mjartan will become vice chairman.
Arcadia FCU in Maine selects insider to become CEO in 2025
Arcadia Federal Credit Union in Fort Kent, Maine, will have a new leader next year. The $365 million-asset credit union said in a press release that David Desjardins will retire as president and CEO next July. He will be succeeded by Joey Cannan, the credit union’s executive vice president. Desjardins had been CEO since 2004. […]
Van Wert Savings Bank in Ohio rebrands as GreenWay Bank
Van Wert Federal Savings Bank in Van Wert, Ohio, has a new name. VWF Bancorp, the bank’s $271 million-asset holding company, disclosed in a securities filing that the bank had been rebranded at GreenWay Bank. VWF has gone through considerable change in recent years, converting to a stock-owned company and hiring a new […]
Native American-focused challenger bank Totem shuts down
Totem Technologies, a challenger bank focused on the Native American community, has shut down. Amber Buker, the company’s founder and CEO, shared the news in a LinkedIn post. “We’ve already shared the news with our customers and tribal partners, but this will be the first time many of our stakeholders may be hearing that Totem […]
Mission Driven Bank Fund invests in California, Florida community banks
The Mission Driven Bank Fund in Cleveland, which recently raised $65 million, has invested in two community banks. The fund said in a press release that it invested in Neighborhood National Bank in El Cajon, Calif., and Anchor Bank in Palm Beach Gardens, Fla. The amounts were not disclosed. The $151 million-asset Neighborhood is a […]
Pendleton Community Bank in W.Va. splits CEO, president roles
Pendleton Community Bank in Franklin, W.Va., has a new president. The $764 million-asset bank said in a press release that Neil Hayslett had taken on the role. Hayslett, who will remain chief operating officer, succeeded William Loving, who remains CEO. “PCB continues to expand our reach and grow our brand throughout our communities and Neil […]
Zeal Credit Union in Mich. invests in fintech CU WealthNext
Zeal Credit Union in Livonia, Mich., has invested in fintech CU WealthNext. The $824 million-asset credit union did not disclose the size of the investment. “Joining CU WealthNext as an owner is an exciting opportunity,” Julie Kreinbring, Zeal’s president and CEO, said in a press release. “We believe that leveraging advanced wealthtech solutions is essential […]
Star Bank in Minn. has new CEO after founder dies
Star Bank in Maple Lake, Minn., has a new CEO following the death of its founder. The $390.1 million-asset unit of MidWest Bancorp. said in a press release that Katie Wahlquist succeeded her father, Harry Walhquist, who died on July 19. Wahlquist, who will remain president, had also been the bank’s chief strategy officer.
Peoples Bancorp in N.C. selects long-time insider as next CEO
Peoples Bancorp of North Carolina in Newton has lined up its next leader. The $1.6 billion-asset company said in a press release that Bill Cable will become president and CEO on Sept. 19. Cable will succeed Lance Sellers, who will retire early next year. Cable, who joined the company in 1995, has been […]
Mid-Atlantic FCU in Maryland promoted CFO as its next CEO
Mid-Atlantic Federal Credit Union in Germantown, Md., will soon have a new CEO. The $425 million-asset credit union said in a press release that Tamara Schiavone will also become its president on Aug. 1. Schiavone, who was the credit union’s chief financial officer, will succeed Bill Brooks.
American Savings in Hawaii posts $45M loss that reflected goodwill impairment
The parent company of American Savings Bank is considering strategic options for the Honolulu bank. The $9.3 billion-asset bank lost $45.8 million in the second quarter, which included a $66.1 million goodwill impairment charge. The bank said the charge is tied to its market valuation and acquisitions that took place in the 1980s and 1990s. […]
Stripe buys digital sales software company Lemon Squeezy
Payments firm Stripe bought Lemon Squeezy, a Salt Lake City digital sales software company. Lemon Squeezy, which helps merchants sell products, disclosed the sale in a blog post. The price wasn’t disclosed. The companies’ goals are “perfectly aligned,” J.R. Farr, Lemon Squeezy’s co-founder and CEO, said in a blog post. “Stripe continues to set the bar in […]
NATCOM Bancshares to buy parent of RiverWood Bank in Minnesota
NATCOM Bancshares in Superior, Wis., has agreed to buy Great River Holding Co. in Baxter, Minn. NATCOM, the parent of the $1.4 billion-asset National Bank of Commerce said in a press release that it will buy the holding company for the $625 million-asset RiverWood Bank for an undisclosed amount of cash. The deal is expected […]
MVB in W.Va. winding down digital assets program, hires fintech president
MVB Financial in Fairmont, W.Va., began the process of shutting down its digital asset program. The $3.3 billion-asset company said its second-quarter earnings fell by nearly 50% from a year earlier, largely reflecting its decision to end the program. MVB cited changing market conditions and profitability challenges. The decision cut into the company’s second-quarter net […]