Finward in Indiana released from MOU with FDIC, state regulator
Finward Bancorp in Munster, Ind., has been freed from another enforcement action. The company disclosed in a regulatory filing that its bank was released from an August 2024 memorandum of understanding with the Federal Deposit Insurance Corp. and the Indiana Department of Financial Institutions. Finward was previously freed in August 2025 from a November 2023 […]
National Bankshares in Virginia sheds restructures its securities portfolio
National Bankshares in Blacksburg, Va., sold underperforming securities. The company disclosed in a regulatory filing that it sold $131.9 million of securities as a pretax loss of $6.6 million. Proceeds were used to buy $127.3 million of higher-yielding securities. The company offset the hit with proceeds from the sale of its membership interest in Bearing […]
Bank7 in Oklahoma aims to buy Century Bank in New Mexico
Bank7 in Oklahoma City has agreed to buy a controlling stake in Century Financial Services in Santa Fe, N.M. The $2 billion-asset Bank7 said in a press release that it plans to buy a 71% stake in the holding company for the $1.4 billion-asset Century Bank for $68 million in cash. The shares are being […]
Patriot in Connecticut freed from January 2025 OCC formal agreement
Patriot National Bancorp in Stamford, Conn., has been freed from an enforcement action. The $1.3 billion-asset company said in a press release that the Office of the Comptroller of the Currency released Patriot Bank from a January 2025 formal agreement. “This important milestone is a testament to the terrific team Patriot Bank has assembled to […]
Southern Bancorp in Arkansas to rebrand as Uplift Bank
Southern Bancorp in Arkadelphia, Ark., has chosen a new name. The company said in a press release that it will rebrand as Uplift Bank. “For 40 years, we’ve worked alongside individuals, families, businesses, and communities to create pathways to financial opportunity for everyone, no matter their zip code,” Southern said in a LinkedIn post. “As […]
Regions in Alabama buys investment bank Frazier Lanier
Regions Financial in Birmingham, Ala., bought Frazier Lanier Company, an investment bank that specializes in municipal and corporate securities. The $161 billion-asset Regions did not disclose the price it paid for the Montgomery, Ala., investment bank. “By welcoming experienced bankers from Frazer Lanier to the Regions family, we are connecting Regions’ clients with even greater […]
MidMinnesota FCU to buy branch from Unity Bank in Wisconson
MidMinnesota Federal Credit Union in Baxter has agreed to buy a branch in Clarissa, Minn., from Unity Bank, Augusta, Wis. The $834 million-asset credit union said in a press release that the all-cash deal should close in the fourth quarter. The price wasn’t disclosed. The branch had $27 million in deposits and $3 million in […]
Commerce in Mo. to buy boutique investment bank Nolan & Associates
Commerce Bancshares in Kansas City, Mo., has agreed to buy boutique investment bank Nolan & Associates in St. Louis, Mo. Nolan provides sell-side, buy-side and capital raise advisory services to business owners, private equity firms and corporations in industries that including building products, transportation, logistics, energy, healthcare, telecom, business services, manufacturing, distribution and agriculture. Nolan […]
Eagle in Md. to pay $9.7M to address DoJ prope into BSA violations
Eagle Bancorp in Bethesda, Md., will pay more than $9.7 million to resolve a Justice Department investigation into violations of the Bank Secrecy Act. The DoJ said in a press release that Eagle entered into a non-prosecution agreement to address the matter. “For more than a decade, EagleBank knowingly allowed favored clients to operate a […]
BankTech Ventures identifies 2026 investments
BankTech Ventures, an investment fund backed by banks, announced a new round of investments totaling $15 million over the past six months. The fund said that new portfolio companies and follow-on investments included: Coinbax, which deals in stablecoin payments via smart contracts with built-in risk controls and reversibility. FileJet, which offers automated compliance, reporting, and […]
Bank of Charlotte County in Va. announces CEO’s retirement
Bank of Charlotte County in Phenix, Va., is saying goodbye to its leader. The $228 million-asset bank announced in a LinkedIn post that Dexter Gilliam will retire as president and CEO on June 1. The post did not identify his successor. “Dexter’s leadership, dedication, and commitment to our employees, customers, and communities has helped shape […]
Fintech GrailPay raises $10.5M in latest funding round
New York fintech GrailPay raised $10.5 million in Series A funding. The fintech, which is building a risk intelligence platform for ACH and bank payments, said the funding round was led by MissionOG and included participation EJF Ventures, Counterpart Ventures, Construct Capital, Commerce Ventures, and SSC Venture Partners. GrailPay said it plans to use the funds […]
Candescent finds next CEO
Candescent in Atlanta has a new leader. The platform said in a press release that Jason Edelboim had become its CEO, succeeding Brendan Tansill, who stepped down. Edelboim was CEO of iCIMS, an AI platform for talent acquisition. “Banking is moving from digital to intelligent, and Candescent is at the forefront of this shift,” Edelboim […]
Keweenaw Financial to buy Range Bank in Michigan merger
Keweenaw Financial in Hancock, Mich., has agreed to buy Range Financial in Marquette, Mich. Keweenaw, the parent of the $1.1 billion-asset Superior National Bank, said in a press release that it plans to buy the $635 million-asset holding company for Range Bank in the fourth quarter. The price of the all-stock deal wasn’t disclosed. Range […]
Colony in Georgia to buy First Reliance in S.C. for $163 million
Colony Bankcorp in Fitzgerald, Ga., has agreed to buy First Reliance Bancshares in Florence, S.C. The $3.9 billion-asset Colony said in a press release that it will pay $163 million in stock for the $1.1 billion-asset First Reliance. The deal, which is expected to close in the fourth quarter, priced First Reliance at 162% of […]
Proposed SoCal de novo gets conditional FDIC approval
Organizers of the proposed TriCoast Bank in Burbank, Calif., have received conditional approval from the Federal Deposit Insurance Corp. The group must raise $25 million in capital before the bank can open. Organizers originally applied with the FDIC and state regulator in October.
BCB in New Jersey suspends quarterly dividends
BCB Bancorp in Bayonne, N.J., has suspended its quarterly dividend as its new CEO looks to shore up capital. The company said ina press release that the suspension applies to common and preferred stock. The board also voted to suspend its 2026 amended and restated dividend reinvestment and stock purchase plan. “We will be undergoing […]
Ion Bank in Conn. makes Boston push with Cooperative Bank merger
Ion Financial in Naugatuck, Conn., has agreed to absorb Cooperative Bank in Boston. The $2.8 billion-asset Ion said in a press release that the $540 million-asset Cooperative will continue to operate as a division. Cooperative President and CEO John Battaglia will join Ion as president of the new division. The banks will create a $2.5 […]
North Shore in Wisconsin to buy PyraMax Bank parent
North Shore Bank in Brookfield, Wis., has agreed to buy 1895 Bancorp of Wisconsin in Greenfield. The $2.5 billion-asset North Shore said in a press release that it will pay $18.40 to $18.66 a share in cash for the parent of the $598 million-asset PyraMax Bank. The deal is expected to close in the fourth […]
South Plains in Texas lines up new CEO
South Plains Financial in Lubbock, Texas, will end this year with new leadership. The company said in a press release that Cory Newsom will become its CEO on Dec. 31. Newsom South Plains’ president, will succeed Curtis Griffith, who will retire. “Our leadership transition has been the result of many years of deliberate planning, and […]
Georgia Banking, Climate First complete capital raises
Georgia Banking Co. in Atlanta and Climate First Bancorp in St. Petersburg, Fla., raised capital. Georgia Banking said in a press release that it completed a $77.7 million private placement of primary and secondary shares, led by funds managed by affiliates of Fortress Investment Group. The company plans to use proceeds to support continued growth […]
MidFirst in Oklahoma to buy Dallas Capital Bank
MidFirst Bank in Oklahoma City has agreed to buy Dallas Capital Bank. The $42 billion-asset MidFirst did not disclose how much it will pay for the $1.2 billion-asset Dallas Capital. “Dallas is one of the most dynamic banking markets in the country, and Dallas Capital Bank has built exactly the kind of relationship-focused culture that […]
ODNB in Virginia to buy D.C.’s oldest bank
ODNB Financial in Tysons Corner, Va., has agreed to buy National Capital Bancorp in Washington, D.C. The $1.6 billion-asset ODNB said in a press release that it will pay $98 million in cash and stock for the $735.3 million-asset parent of National Capital Bank of Washington. The deal is expected to close in the fourth […]
Peoples Bancorp to buy Bank of Rantoul in Illinois bank merger
Peoples Bancorp in Newton, Ill., has agreed to buy Bancorp of Rantoul in Rantoul, Ill. The $729 million-asset Peoples expects to buy the parent of the $284 million-asset Bank of Rantoul in the fourth quarter. The price of the all-cash deal wasn’t disclosed. Bank of Ratoul has two branches. Rantoul Chairman and co-CEO Denny Long […]
Former Fiserv chief named next CEO of Truist in North Carolina
Truist Financial in Charlotte, N.C., has a new leader lined up. The company said in a press release that Mike Lyon will succeed Bill Rogers as president and CEO on Sept. 1. Lyon was CEO of Fiserv. Rogers, who has served as Truist’s CEO since September 2021, will serve as executive chairman until he retires […]