Lumin Digital raises $70 million in latest funding round
Lumin Digital in San Ramon, Calif., raised $70 million. The digital platform said in a press release that the new funding round will support advancements in AI, payments, CRM, and lending. The capital raise follows a recent $45 million growth equity financing led by Light Street Capital. “We’ve built Lumin around a simple idea: the […]
Activist investor pushes Cashmere Valley in Pa. to find a buyer
Down Range Capital Opportunity Fund is pushing the board of Cashmere Valley Bancorp in Cashmere, Wash., to sell the bank. Down Range’s letter leans on four main points: No credible succession plan. CSHX has had only two CEOs since 1993 — Ken Martin and Greg Oakes — with a smooth internal handoff between them. Oakes’s […]
Palo Alto Networks co-founder completes Liberty Bank purchase
Tech money keeps finding its way into small banks — and the latest example closed this week in Irvine, Calif. Nir Zuk, co-founder of cybersecurity giant Palo Alto Networks, completed his purchase of DMG Bancshares, the holding company of the $442 million-asset Liberty Bank. He wasn’t alone: Daniel and Betsy Cohen, co-founders of The Bancorp, […]
Payments fintech Flex raises $70 million
Flex has raised $70 million to expand its platform for high-net-worth business owners. The fintech also said in an announcement that it had launched Flex Global, a service that connects local currency accounts, cross-border payments, and stablecoins for around-the-clock funds transfers. The company will also use the funds to double in size to more than […]
Houston Bank & Trust raises nearly $44M in private placement
Houston Bank & Trust in Texas raised $43.5 million in a private placement. The bank sold common stock, with Commerce Street Capital serving as the placement agent. The bank opened in May 2025 after raising $35 million.
CSI buys treasury solutions fintech Qolo
Software and technology provider CSI bought Qolo, a fintech that offers treasury solutions and payments infrastructure. The price wasn’t disclosed. “Community financial institutions are built on trusted relationships, local expertise, and deep knowledge of their markets,” Nancy Langer, CSI’s president and CEO, said in a press release. “Businesses in their communities also need sophisticated banking […]
F&M in Virginia uses gain from agency sale to purge low-yielding securities
F&M Bank in Timberville, Va., used a gain from selling its insurance agency to offset a hit from selling underperforming securities. The company said in a press release that it recorded a $4.8 million pretax gain from selling Bearing Insurance in April. F&M then sold $29.8 million of securities, or 8.2% of its portfolio, at […]
First Community Bank of Central Alabama to buy branch
First Community Bank of Central Alabama in Wetumpka has agreed to buy a branch from Merchants & Farmers Bank of Greene County in Eutaw, Ala. FCB plans to buy a branch in Prattville, Ala., along with $14 million of deposits and $8 million of loans, for an undisclosed price. The deal is expected to close […]
First Bancorp in N.C. to buy First Carolina in S.C.
First Bancorp in Southern Pines, N.C., has agreed to buy First Carolina Bancshares in Florence, S.C. First Bancorp said in a press release that it will pay $166 million in cash and stock for the $831 million-asset First Carolina. The deal is expected to close in the fourth quarter or early next year. “Carolina Bank […]
First Gothenburg to buy Foundation First in Nebraska bank merger
First Gothenburg Bancshares in Gothenburg, Neb., has agreed to buy Foundation First in Waterloo, Neb. The $1.2 billion-asset parent of Dayspring Bank expects to buy the holding company for the $200.9 million-asset Foundation First Bank in the second half of this year. The price was not disclosed. Olsen Palmer advised Foundation First.
First Hawaiian to make big mainland push with TriCo acquisition
First Hawaiian in Honolulu has agreed to buy TriCo Bancshares in Chico, Calif. The $24 billion-asset First Hawaiian said in a press release that it will pay $2 billion in stock for the $9.9 billion-asset TriCo. The deal, which is expected to close by the end of this year, priced TriCo at 198% of its […]
Bank of Washington in Missouri announces CEO’s death
The leader of the Bank of Washington in Missouri has died. The bank disclosed on LinkedIn that L.B. Eckelkamp Jr., its chairman and CEO, had passed away. “L.B. had a deep love for his hometown and demonstrated every day the values of hard work, honesty, humility, and selfless leadership,” the post said. “His vision, leadership, […]
Real estate firm MountainSeed raises $38M to build AI appraisal platform
MountainSeed, an Atlanta company that buys bank and credit union properties, raised $38 million in capital. The company said in a press release said that equity firm Long Ridge Equity Partners made a minority investment that will be used for an AI-focused valuation and appraisal review platform, among other things. “Banks and credit unions … […]
Gaming giant Sony gets conditional approval for stablecoin-focused trust bank
Sony Bank has received conditional OCC approval to open a national trust bank. Sony saidit plans to create Connectia Trust with $40 million in capital. The trust bank, which should open next year, would issue and manage a dollar-denominated stablecoin. The bank said late last year that it was planning to issue a dollar-pegged stablecoin that […]
FirstSun in Colo. to bump up provision due to pair of troubled loans
FirstSun Capital Bancorp in Denver warned that two commercial credits will ding its quarterly results. The company disclosed in a regulatory filing that its plans to record a loan-loss provision of $40 million to $41 million during the second quarter. Chargeoffs will range from $42 million to $43 million. The first lending relationship is an […]
Stilwell Group to launch proxy challenge at Central Plains in Nebraska
Stilwell Group plans to vie for two board seats at Central Plains Bancshares in Grand Island, Neb. Central Plains disclosed in a regulatory filing that the activist investor also plans to present a proposal at the next annual meeting that would require the company to buy back at least 10% of its outstanding common stock […]
Nation’s smallest standalone bank fails in Indiana
Kentland Federal Savings and Loan Association of Kentland, Ind., has failed. The nation’s smallest standalone bank, with $3.7 million of assets, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC sold substantially all of the bank’s assets and its deposits to […]
Business First in La. buys consulting firm American Planning Corp.
Business First Bancshares in Baton Rouge, La., bought consulting firm American Planning Corp. The $8.9 billion-asset Business First said in a press release that T. Jefferson Fair, American Planning’s CEO, and his team joined b1BANK subsidiary Smith Shellnut Wilson. The price wasn’t disclosed. American Planning offers outsourced CFO services, financial modeling, strategic planning, capital planning, […]
Hyperion in Philadelphia raises $14M to fund organic growth
Hyperion Bancshares in Philadelphia raised $14.1 million to expand in its headquarters city and Atlanta. The $553 million-asset company said in a press release that it sold $8.6 million in common stock and $6.1 million in preferred stock. The capital is expected to support the bank’s strategy while preserving lending capacity and maintaining regulatory capital […]
CBW Bank seeking OCC charter to expand digital assets operations
CBW Bank in Wichita, Kan., is seeking to switch to a national bank charter. The $66 million-asset bank applied to the Office of the Comptroller of the Currency to convert from a state banking charter. CBW is listed on the OCC’s digital asset licensing applications webpage under the pending applications section. The bank adds to […]
FDIC grants conditional approval for Bank of St. George in Utah
A group in St. George, Utah, has received conditional approval from the Federal Deposit Insurance Corp. to form a bank. The organizers of the proposed Bank of St. George must raise $20 million of initial capital before opening the bank. The group initially applied to open the bank in 2019, but withdrew the application. They […]
Axos in Nevada to buy fintech Arc Technologies
Axos Financial in Las Vegas has agreed to buy Arc Technologies, a fintech that serves technology and growth companies. The $29.2 billion-asset Axos said in a press release that it expects the deal to close later this month. The price wasn’t disclosed. Arc provides cash management, capital markets, and AI-powered financial software solutions, helping businesses […]
Agricultural Banking to buy Buckley Bancorp in Illinois bank merger
Agricultural Banking Corp. in Paxton, Ill., has agreed to buy Buckley Bancorp in Buckley, Ill. Agricultural Banking, the holding company for the $200 million-asset Frederick Community Bank, said in a press release that it expects to buy the parent of the $50 million-asset Buckley State Bank in the fourth quarter. The price wasn’t disclosed Selected […]
BNPL pioneer Klarna seeking ILC in Utah
Klarna has applied for an industrial bank charter. The Swedish Buy Now, Pay Later pioneer filed its applications with the Federal Deposit Insurance Corp. and Utah’s Department of Financial Institutions. Klarna has partnered with U.S. banks, including WebBank, to offer some of its financial services. “Our own banking license is the natural next step, giving customers tools […]
Hometown in Mass. to buy Primary in N.H., convert to stock holding company
Hometown Financial Group in Easthampton, Mass., has agreed to buy Primary Bank in Bedford, N.H., in a move that will include Hometown’s conversion to a stock holding company. The $6.9 billion-asset Hometown said in a press release that it will pay $160 million in cash and stock for the $743 million-asset Primary. The deal is […]