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 […]
VALT gets conditional FDIC approval to open a bank
VALT is closer to operating a digital-only bank. The fintech disclosed that it received conditional approval from the Federal Deposit Insurance Corp. for VALT Bank in Idaho. The Office of the Comptroller of the Currency had already signed off on the proposed bank. VALT, which submitted its application in mid-November, must infuse $25 million of […]
Tioga-Franklin Savings Bank in Philadelphia fails
Tioga-Franklin Savings Bank in Philadelphia has failed. The bank was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC sold all deposits and substantially all assets to Second Federal Savings and Loan Association of Philadelphia. Tioga-Franklin had $68 million of assets and $67 […]
Brazil’s Itaú Bank gains conditional OCC approval for U.S. bank
Itaú Bank in Brazil was granted conditional approval from the Office of the Comptroller of the Currency to open a nationally chartered bank. The large Latin American bank received the approval on Aug. 14. The proposed bank, which filed its applications in March, would serve high- and ultra-high-net-worth clients with ties to Brazil and Latin […]
Trustar in Va. to buy branches from Forbright Bank
Trustar Bank in Great Falls, Va., has agreed to buy branches in Maryland from Forbright Bank. Trustar said in a press release that it will buy locations in Potomac and North Bethesda, along with a customer service hub in McLean, Va. The deal includes $750 million in deposits at a $19 million deposit premium. The […]
Exchange Bank in Calif. begins search for new president
Exchange Bank in Santa Rosa, Calif., is looking for a new leader. The $3.2 billion-asset bank said in a press release that Troy Sanderson will retire as president and CEO in the fourth quarter. The board will begin a nationwide search for Sanderson’s replacement. The plan is to hire a president who can eventually become […]
Nissan scraps plans for industrial loan charter: report
Nissan Motor Co. has reportedly abandoned plans for an industrial bank based in Utah. The automaker opted to cancel the initiative to prioritize cost-cutting measures as part of a broader corporate restructuring and shifting economic conditions, according to Automotive News. Nissan’s captive finance arm, Nissan Motor Acceptance Co., applied in June 2025 to form Nissan Bank […]
QNB in Pennsylvania aims to raise $42M by selling common stock
QNB Corp. in Quakertown, Pa., plans to raise at least $42.3 million by selling common stock. The company said in a press release that it will sell nearly 1.1 million shares of stock at $42 each. It could sell another 161,000 shares if there is enough demand. Proceeds could be used for a balance sheet […]
Pontiac Bancorp to buy Ottawa Bancorp in Illinois bank merger
Pontiac Bancorp in Pontiac, Ill., has agreed to buy Ottawa Bancorp in Ottawa, Ill. The parent of the $1.2 billion-asset Bank of Pontiac will pay $45.5 million in cash for the holding company of the $356 million-asset OSB Community Bank. The deal is expected to close in the first quarter. Pontiac was advised by Olsen […]
AI underwriting platform Kita raises $4.5M in seed round
Kita, an AI credit underwriting and assessment platform, raised $4.5 million in a seed round. The fintech said in a LinkedIn post that the round was led by BoxGroup, with participation from Y Combinator, Golden Gate Ventures, U.S. News & World Report, BEENEXT, and Kaya Founders, as well as angels from Apple and Mercor. “We’re building […]
Former NBA star clears hurdle for buying Iowa bank
Pro basketball player Harrison Barnes is inching closer to buying Community State Bank in Paton, Iowa. Shareholders of the $42.8 million-asset bank recently approved a sale to Barnes Bancorp. The Federal Reserve must still approve an application for Barnes Bancorp to become a bank holding company. Jeff Plagge, a lifelong banker, former state bank commissioner […]
Bryant Bank in Alabama names new president
Bryant Bank in Tuscaloosa, Ala., has shuffled its leadership team. The $2.9 billion-asset bank said in a press release that Mike Mitchell had become its president. Mitchell, who was chief credit officer, succeeded Claude Edwards, who became president emeritus and chief strategy officer. Patrick Hamner was named chief credit officer, succeeding Mitchell. Hamner was executive […]
Mint National Bank in Texas promotes director to top role
Mint National Bank in Kingwood, Texas, has a new CEO. Jason Cassity, a member of the $392.8 million-asset bank’s board, announced the new role on his LinkedIn account. “This is an exciting time for me and I couldn’t be happier that I’ll be working in my hometown of Kingwood again,” Cassity wrote.