Founding CEO steps aside at Integro Bank in Arizona
Integro Bank in Phoenix has made a switch at the top. The bank said in a press release that Jim Malerba had become acting CEO. Malerba, a retired accountant, is on Integro’s board. Malerba succeeded Thomas Inserra, who concluded his tenure with the bank on Dec. 31. “Integro Bank is entering its next chapter from […]
Farming business buys large stake in Pacific Valley Bank in California
Pacific Valley Bank in Salinas, Calif., has a new investor. Pacific Valley said in a press release that Taylor Fresh Foods, the parent company of Taylor Farms, bought a 16.3% ownership stake in the bank. The price wasn’t disclosed. “For more than two decades, Pacific Valley Bank has operated as a locally owned community bank […]
California BanCorp selects chairman as its new CEO
California BanCorp in San Diego didn’t have to look far to find its next CEO. The company said in a press release that David Rainer, its chairman, had succeeded Steven Shelton, who retired on Dec. 31. “On behalf of our board … and all of us at the bank, I want to thank Steve for all […]
First Federal in Florida to buy NOLA Lending Group
First Federal Bank in Lake City, Fla., has agreed to buy the mortgage division of FB Bancorp in New Orleans. The $4.1 billion-asset First Federal did not disclose how much it will pay the $1.2 billion-asset Fidelity for NOLA Lending Group. The deal is expected to close in the first quarter. “Our mission is to […]
Bank adviser Kafafian Group bought by Wolf & Co.
The Kafafian Group, an advisory practice focused on financial institutions, has been acquired by Wolf & Co. Wolf & Co., a national advisory, assurance, and tax firm, did not disclose how much it paid. Kafafian Group said in a LinkedIn post that it will be integrated as a line of service within the Wolf & […]
Mound City Bank in Wisconsin promotes insider as new CEO
Mound City Bank in Platteville, Wis., has a new leader. The $516 million-asset bank said on its LinkedIn account that Mike Phillips has become its CEO. Phillips became the bank’s president in 2024. Before that, he was chief lending officer at Bank of Prairie Du Sac.
Mid Penn buys Cumberland Advisors in Florida
Mid Penn Bancorp in Harrisburg, Pa., bought Cumberland Advisors, an investment adviser in Sarasota, Fla. The $6 billion-asset Mid Penn did not disclosed the price it paid for the firm, which has about $3.2 billion in assets under management. “Cumberland has built a strong reputation for excellence and is the ideal choice to help us […]
4Front Credit Union to buy Michigan branch from Horizon Bank
Horizon Bank in Michigan City, Ind., has agreed to sell a branch in Charlevoix, Mich., to 4Front Credit Union in Traverse City, Mich. The application was recently filed with the Federal Deposit Insurance Corp. The branch had $18.6 million of deposits as of June 30, according to FDIC data. The purchase price wasn’t disclosed. “We […]
Capital Bancorp in Md. selects insider as bank CEO
Capital Bancorp in Rockville, Md., has a new bank president. The $3.4 billion-asset company said in a press release that Steve Poynot, its president and chief operating officer, had become CEO of Capital Bank. Ed Barry remains the company’s CEO under a new employment agreement that lasts until December 2027. “Our long-term growth strategy is […]
OceanFirst in N.J. to buy Flushing in deal backed by Warburg Pincus
OceanFirst Financial in Red Bank, N.J, has agreed to buy Flushing Financial in Uniondale, N.Y. The $14.3 billion-asset OceanFirst said in a press release that it will pay $579 million in stock for the $8.9 billion-asset Flushing. The deal, which is expected to close in the second quarter, priced Flushing at 80% of its tangible […]
Alerus in N.D. repositions its securities portfolio
Alerus Financial in Grand Forks, N.D., restructured its securities portfolio. The company said in a press release that it sold $360 million of securities, or more than two-thirds of its available-for-sale securities, at a $68.5 million pretax loss. Alerus reinvested the proceeds into higher-yielding securities. “Our focus in 2025 was to lower risk and improve […]
Peruvian bank strikes deal to buy Helm Bank for $180 million
Credicorp, Peru’s biggest bank, has agreed to buy Helm Bank USA in Miami. Credicorp said in a press release that its Banco de Crédito del Perú unit will pay $180 million for the $1.1 billion-asset Helm Bank. “This acquisition allows us to deepen our ability to serve Latin Americans whose financial lives span both their home […]
Alpine Banks of Colorado taps new CEO after leader’s passing
Alpine Banks of Colorado in Glenwood Springs has a new CEO. The $6.8 billion-asset company said in a press release that Glen Jammaron had also become its chairman. Jammaron, who was president and vice chairman, succeeds Bob Young, who passed away on Dec. 11. “I am honored to continue the incredible legacy that Bob built […]
Longtime Virginia bank commissioner retiring in January
Joe Face is set to retire as Commissioner of Virginia’s Bureau of Financial Institutions. Face, who took over the role in 1997, will step down next month. Dustin Physioc, who has nearly two decades of experience with the bureau, will succeed Face on Jan. 25.
Peoples Financial in Pennsylvania sells lower-yielding securities at loss
Peoples Financial Services in Moosic, Pa., repositioned its securities portfolio. The company disclosed in a regulatory filing that it sold $78.6 million of lower-yielding securities at a nearly $1.9 million after-tax loss. Net proceeds were used to buy higher-yielding assets, including U.S. agency mortgage-backed securities and discounted tax-exempt municipal bonds. The moves are expected to increase […]
Organizers apply to form Augustus National Bank in Dallas
A group in Dallas has applied to open a bank. Organizers of the proposed Augustus National Bank have applied to the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency. The application wasn’t immediately available. The public notice filed in connection with the application listed six organizers. Three members of the […]
Stablecoin-focused fintech Coinbax raises $4.2M in seed funding
Coinbax has raised $4.2 million in seed funding. The stablecoin-focused payments fintech announced that the round was led by BankTech Ventures, with participation from Connecticut Innovations, Paxos, SpringTime Ventures, and other banking and payments industry leaders. The capital will support engineering development, infrastructure integrations and design partner onboarding. “Within the next three years, every bank account […]
Overbrook Bankshares to buy Norcon Financial in Kansas
Overbrook Bankshares in Overbrook, Kan., has agreed to buy Norcon Financial in Conway Springs, Kan. Overbrook, the parent of the $100 million-asset First Security Bank, said in a press release that it plans to buy the holding company for the $125 million-asset Conway Bank in the first half of next year. The price wasn’t disclosed. […]
Platte Valley Financial to buy Potter State Bank in Nebraska
Platte Valley Financial Services in Scottsbluff, Neb., has agreed to buy Potter State Bank in Potter, Neb. The parent of the $1.1 billion-asset Platte Valley Bank expects to purchase all deposits and loans held by the $47.2 million-asset Potter State in the first quarter, according to an announcement by Olsen Palmer, which represented the seller. […]
Bethany Bankshares to buy Latham Bancshares in Missouri
Bethany Bankshares in Bethany, Mo., has agreed to buy Latham Bancshares in Latham, Mo. The parent of the $1.5 billion-asset BTC Bank expects to buy the holding company for the $190.1 million-asset Tipton Latham Bank in the second quarter, according to an announcement by Olsen Palmer, which represented the seller. The price wasn’t disclosed.
ICBA CRA Solutions removes ‘interim’ from CEO’s title
ICBA CRA Solutions/USI Alliance has a new leader. The subsidiary of the Independent Community Bankers of America said in a press release that Kristine LaVigna had become its president and CEO. She will oversee the unit’s mission to strengthen communities through CRA-aligned lending and investment. “Kristine brings deep expertise and a proven track record of […]
Daryl Byrd-led group to buy M C Bank in Louisiana
An investor group led by Daryl Byrd has agreed to buy M C Bank in Morgan City, La. DMMS Purchaser plans to buy the $479 million-asset bank, based on an announcement by Performance Trust Capital Partners, which advised the seller. The price wasn’t disclosed. Byrd was CEO of IBERIABANK when it sold to First Horizon […]
University Bancorp in Michigan to buy two faith-based lenders
University Bancorp in Ann Arbor, Mich., has agreed to buy Greater Pacific Bancshares in Whittier, Calif. University said in a press release that it will also buy American Finance House LARIBA, a mortgage and auto lender based in Pasadena, Calif. The deals are expected to close in the first half of 2026. Greater Pacific is […]
Hana Financial in South Korea infuses $100M into its U.S. bank
Hana Financial Group in South Korea has injected $100 million into its U.S. bank. Hana Bank USA was created in 2013 after the parent company bought Broadway National Bank. Hana Financial injected $36.5 million into the bank in 2016 and another $65 million six years later. Hana Bank USA’s maximum lending limit per customer should […]
Fintech Mercury applies to become nationally chartered bank
Mercury has applied to regulators to become a nationally chartered bank. The San Francisco fintech said in a press release that it applied with the Federal Deposit Insurance Corp. for deposit insurance and with the Office of the Comptroller of the Currency for a national bank charter. “Becoming an FDIC-insured national bank aligns with our […]