Milestone Bank in Utah hires former PacWest exec as its CEO
Milestone Bank in Salt Lake City has a new leader. The bank said in a press release that Mark Yung had become its chairman, CEO and president. He will also serve as CEO of Milestone Capital Partners. “I’m excited to join Milestone Bank at such a pivotal moment of its growth trajectory,” Yung said in […]
First Financial in Texas selects president to become its new CEO
First Financial in Abilene, Texas, has a new leader. The company said in a press release that David Bailey had become its CEO. Bailey, who remains the company’s president, succeeded Scott Dueser, who will remain chairman until the 2028 annual meeting. Bailey “is extremely qualified to lead the company with his deep knowledge of the […]
Prosperity to buy Stellar Bancorp in Texas for $2 billion
Prosperity Bancshares in Houston has agreed to buy Stellar Bancorp in Houston. The $38.5 billion-asset Prosperity said in a press release that it will pay $2 billion in cash and stock for the $10.8 billion-asset Stellar. The deal, which is expected to close in the second quarter, priced Stellar at 181% of its tangible book […]
U.S. Bancorp CEO Kedia to become chairman in April
U.S. Bancorp in Minneapolis is close to completing its management succession. The $692 billion-asset company said in a press release that Gunjan Kedia will become its chairman at April’s annual meeting. Kedia, who became CEO in April 2025, will succeed Andy Cecere, who is retiring from the board. Roland Hernandez will remain lead independent director. […]
Walpole Co-operative in Mass. promotes CFO as next CEO
Walpole Co-operative Bank in Massachusetts has a new leader. The bank said in a press release that Patrick Cucinotta will become president and CEO on Feb. 1. Cucinotta, the bank’s chief financial officer and treasurer, will succeed Paul Chaggaris, who is retiring. “A results-driven leader, Cucinotta exemplifies the values that guide Walpole Co-operative Bank’s mission […]
Stock Yards speeds up Western Ky. push with Field and Main acquisition
Stock Yards Bancorp in Louisville, Ky., has agreed to buy Field and Main Bancorp in Henderson, Ky. The $9.5 billion-asset Stock Yards said in a press release that it will pay $105.7 million in stock for the $861 million-asset Field and Main. The deal, which is expected to close in the second quarter, priced Field […]
First Busey parts ways with former CrossFirst CEO
First Busey in Leawood, Kan., parted ways with its president. The company disclosed in a regulatory filing that Michael Maddox had also stepped down as its vice chairman and as president and CEO of its bank. He also resigned from the company’s board. Maddox, who was president and CEO of CrossFirst Bankshares, will receive nearly […]
First United Bank to buy First State Bank of Cando in North Dakota
First Holding Company of Park River in North Dakota has agreed to buy First State Bank of Cando in North Dakota. First Holding, the parent of First United Bank, said in a press release that it expects to buy First State in the first quarter. The price wasn’t disclosed. “Our goal is to continue delivering […]
Citizens Alliance Bank to buy two Minnesota branches
Citizens Alliance Bank in Clara City, Minn., has agreed to buy two Minnesota branches from First Security Bank – Sleepy Eye in Minnesota. The $1.5 billion-asset unit of Forstrum Bancorp., said in a press release that it plans to buy locations in Benson and Renville from the $193 million-asset First Security. The branches had $71.8 […]
Former Acting Comptroller Hood tapped as Ally adviser
Ally Financial in Charlotte, N.C., has recruited Rodney Hood to serve as a senior policy advisor. Hood is a former Acting Comptroller of the Currency and once chaired the National Credit Union Administration. “We are absolutely thrilled to welcome Rodney to Ally as one of my key policy advisors,” Michael Rhodes, Ally’s CEO, said in […]
Oak Valley in California selects insider as next CEO
Oak Valley Bancorp in Oakdale, Calif., will have a new leader later this year. The $2 billion-asset company said in a press release that Christopher Courtney plans to retire on June 30. He has served as CEO since 2013. He will remain on the board. Richard McCarty, the company’s president and chief operating officer, will […]
Sunflower Bank forms insurance agency
Sunflower Bank, a unit of FirstSun Capital Bancorp in Denver, has formed an insurance agency. The $8.5 billion-asset bank created Sunflower Insurance Solutions, which will also offer wealth and risk advisory services to business owners and high-net-worth families. “The launch of Sunflower Insurance Solutions marks an exciting step in expanding our ability to deliver comprehensive […]
Apex Bank in Tenn. snags First Horizon exec as next CEO
Apex Bank in Camden, Tenn., has a new leader. The $1.4 billion-asset bank said in a press release that Dave Miller had become its president and CEO. Miller, who was chief operating officer of regional banking at First Horizon Bank, succeeded Matt Daniels, who became chief investment officer. Daniels remains chairman.
BNPL fintech Affirm applies for Nevada bank charter
Affirm Holdings has applied with the Nevada Financial Institutions Division and the Federal Deposit Insurance Corp. to form Affirm Bank. An industrial bank charter would enable the Buy Now, Pay Later (BNPL) company to continue to scale. If approved, the bank would operate as a wholly owned, Nevada-chartered, FDIC-insured subsidiary. “A banking subsidiary would strengthen and […]
Delaware poised to have new bank commissioner
Lisa Collison has been nominated to become Delaware’s next State Bank Commissioner. Collison has served in a wide range of regulatory and supervisory roles during three decades at the Delaware Office of the State Bank Commissioner, including bank examiner, chief bank examiner, review examiner and senior deputy bank commissioner. “Delaware’s financial strength depends on strong, […]
Capital One to increases payments push with $5B Brex acquisition
Capital One Financial in McLean, Va., has agreed to buy Brex. The $476 billion-asset Capital One, fresh off its purchase of Discover, said in a press release that it will pay nearly $5.2 billion in cash and stock for the San Francisco payments fintech. The deal is expected to close in mid-2026. Brex is an […]
FDIC signs off on ILC applications for Ford, General Motors
The Federal Deposit Insurance Corp. gave conditional approval to deposit insurance applications submitted by Ford Motor Co. and General Motors, clearing the way for the establishment of the proposed Ford Credit Bank and GM Financial Bank as Utah-chartered industrial banks. The approvals mark a significant milestone for the auto giants, allowing their captive finance arms to […]
BV Financial in Baltimore discloses departure of co-CEO
BV Financial in Baltimore streamlined its top position. The company disclosed in a regulatory filing that David Flair resigned as co-president and co-CEO on Jan. 22. BV Financial will pay Flair about $2.1 million in a lump sum. Flair will also receive his 2025 bonus. Flair agreed to a consulting agreement that will end on […]
First Resource to buy First State Bank of Wyoming in Minnesota
First Resource Bank in Lino Lakes, Minn., has agreed to buy First State Bank of Wyoming in Wyoming, Minn. The $750 million-asset First Resource expects to buy the $240 million-asset First State in the second quarter. The price wasn’t disclosed. Barack Ferrazzano Kirschbaum & Nagelberg and CLA advised First Resource. Winthrop & Weinstine and Eide […]
Fintech DeepSee.ai raises $18.6M in Series A round
DeepSee.ai, a fintech that mines unstructured data and “operationalizes AI-powered insights,” has raised $18.6 million in its Series A round. The fintech said in an announcement that the round was led by BankTech Ventures, EJF Ventures, Raido Capital and Broadridge. The Salt Lake City company was founded in 2019.
Bank CMG to buy Farmers State in merger of Wisconsin banks
Bank CMG in Madison, Wis., has agreed to buy Farmers State Bank in Mineral Point, Wis. The $900 million-asset Bank CMG said in a press release that it expects to buy the $450 million-asset Farmers State by mid-2026. The price wasn’t disclosed. “This acquisition reflects our commitment to growth and innovation within the state of […]
Bennington State in Kansas to buy Flint Hills Bank
Berco in Salina, Kan., has agreed to buy Flint Hills Bank in Eskridge, Kan. The parent of the $1.3 billion-asset Bennington State Bank said in a press release that it plans to buy the $154 million-asset Flint Hills in the second quarter. The price wasn’t disclosed. Flint Hills operates under its primary charter name while […]
WaFd in Seattle successfully appeals CRA rating
WaFd Bank in Seattle successfully appealed its Community Reinvestment Act rating. The bank received a “needs to improve” rating from the Federal Deposit Insurance Corp. in late 2024 for the period covering June 2020 to March 2024. After the bank filed an appeal with the FDIC’s Supervision Appeals Review Committee, the rating was raised to […]
First Bancorp in N.C. sold underperforming securities in fourth quarter
First Bancorp in Southern Pines, N.C., said its quarterly profit took a hit after it cleaned up its securities portfolio. The company said in a press release that it earned $15.7 million in the fourth quarter. The results included a $43.7 million pretax securities loss. The company sold $342 million of securities, using the proceeds […]
First Capital in South Carolina raises $13M via private placement
First Capital Bancshares in Charleston, S.C., raised $13.2 million. The $811 million-asset company said in a press release that it completed a private placement of common stock sold to accredited individual and institutional investors. First Capital said it plans to use the proceeds to support the continued growth of its franchise, invest in the bank […]