HomeStreet in Seattle to sell $794M Ginnie Mae portfolio
HomeStreet in Seattle has agreed to sell its Ginnie Mae mortgage servicing portfolio. The $8 billion-asset HomeStreet, which recently agreed to sell itself to Mechanics Bank in California, did not disclose the buyer. The sale is expected to close on Aug. 1. The principal balance of the loans to be sold was $794 million on […]
Avidbank in California files for upcoming IPO
Avidbank Holdings in San Jose, Calif., has filed a prospectus in advance of its planned initial public offering. The $2.3 billion-asset Avidbank did not disclose how many shares it plans to sell. Published reports said the company could look to raise up to $70 million. A “substantial amount” of the net proceeds would be used […]
Prosperity to buy parent of American Bank in Texas for $320 million
Prosperity Bancshares in Houston has agreed to buy American Bank Holding Co. in Corpus Christi, Texas. The $38.8 billion-asset Prosperity said in a press release that it will pay $321.5 million in stock for the parent of the $2.5 billion-asset American Bank. The deal, which is expected to close by the first quarter, priced American […]
Bank First to buy Centre 1 Bancorp in Wisconsin
Bank First in Manitowoc, Wis., has agreed to buy Centre 1 Bancorp in Beloit, Wis., in a deal that will expand its reach into southern Wisconsin and northern Illinois. The $4.4 billion-asset Bank First said in a press release that it will pay $174.3 million in stock for the $1.6 billion-asset Centre. The deal, which […]
Chemung in N.Y. posts loss after selling underwater securities
Chemung Financial in Elmira, N.Y., reported a quarterly loss after unloading underwater securities. The $2.9 billion-asset company said in a press release that it lost $6.5 million in the second quarter, compared to $5 million in net income a year earlier. Chemung sold $245.5 million of securities in June 2025 at a pretax loss of […]
Western Alliance in Phoenix to rebrand its banking divisions
Western Alliance Bancorp. in Phoenix will rebrand its banks to reflect its corporate identity. The parent of Western Alliance Bank will rename Alliance Association Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank. AmeriHome Mortgage and Western Alliance Trust Co. will retain their brands. The effort is […]
New Independent in Indiana to buy State Bank of Medora
New Independent Bancshares in New Washington, Ind., has agreed to buy State Bank of Medora in Indiana. The deal is expected to close in the second half of this year. The $614.7 million-asset New Independent did not disclose how much it will pay for the $103.4 million-asset State Bank of Medora. Olsen Palmer advised New […]
TDECO in Houston terminates deal for Sabine State Bank in La.
TDECO in Houston has terminated an agreement to buy Sabine State Bank and Trust in Many, La. The $4.8 billion-asset credit union agreed in April 2024 to buy the $1.2 billion-asset Sabine in a deal that was expected to close earlier this year. The price wasn’t disclosed. It would have a been a huge acquisition […]
Climate First Bank in Florida raises $46 million
Climate First Bancorp in Orlando, Fla., raised $46 million by selling common stock. The company said in a press release that the capital will help it expand its national solar and renewable energy platforms, along with other socially responsible financing efforts. “This major new investment is a reflection of the national commitment to combat the […]
Broadway Bank in Texas begins search after CEO’s retirement.
Broadway Bank in San Antonio, Texas, is looking for a new leader. The $5.7 billion-asset bank said in a press release that David Bohne had retired as CEO. Harvey Hartenstine, the bank’s president and chief banking executive, was named interim CEO as the board looks for a permanent replacement.
Northfield Savings in Vermont hires outsider as next CEO
Northfield Savings Bank in Northfield, Vt., will soon have a new leader. The $1.6 billion bank said in a press release that Joseph Bator will become president and CEO and join the board on Sept. 1. Bator, who recently served as a regional vice president in New Hampshire for TD Bank, will succeed the retiring […]
Unity in N.J. reports higher profit after shedding Patriot National stock
Unity Bancorp in Clinton, N.J., reported increased earnings after it found a way to liquidate its holdings in Patriot National Bancorp in Stamford, Conn. The $2.9 billion-asset Unity said in a press release that its second-quarter earnings rose by 74% from a year earlier, to $16.5 million. The quarter included a $3.5 million pretax gain […]
Group formed to buy bank to rebrand as Tanager Bank
A group is looking to buy a bank in Wyoming. Integra BG was formed to acquire an unnamed state-chartered bank near Jackson Hole that it plans to rebrand as Tanager Bank, Chris Woolley, a member of the group, shared in a LinkedIn post. Integra will also conduct a private capital raise and implement new technology, […]
FDIC approves Korean-American de novo bank in Los Angeles
Organizers of a proposed Korean-American bank in Los Angeles have received conditional approval from the Federal Deposit Insurance Corp. The group behind the proposed Quantum Bank must raise $35 million in capital before opening the bank. Organizers originally filed to open QIB Bank in March 2024 before changing the name. “The bank intends to operate […]
It’s official: First Community in S.C. to buy Signature Bank of Georgia
First Community in Lexington, S.C., has agreed to buy Signature Bank of Georgia in Sandy Springs in a deal that was inadvertently leaked last week. The $2 billion-asset First Community said in a press release that it will pay $41.6 million for the $249 million-asset Signature. The deal, which is expected to close in the […]
Huntington to buy Veritex in Dallas for $1.9 billion
Huntington Bancshares in Columbus, Ohio, has agreed to buy Veritex Holdings in Dallas. The $210 billion-asset Huntington said in a press release that it will pay $1.9 billion in stock for the $13 billion-asset Veritex. The deal, which is expected to close in the fourth quarter, priced Veritex at 152% of its tangible book value. […]
Civista in Ohio to buy Farmers Savings, raise $70M in stock offering
Civista Bancshares in Sandusky, Ohio, has agreed to buy Farmers Savings Bank in Spencer, Ohio. The $4.1 billion-asset Civista said in a press release that it will pay $56 million in cash and stock for the $285 million-asset Farmers. The deal is expected to close in the fourth quarter. Civista will also raise $70 million […]
First State Bank in Texas completes sale-leaseback of seven properties
First State Bank in Gainseville, Texas., entered into a sale-leaseback transaction for half of its properties. The $1.8 billion-asset bank agreed to sell seven locations to MountainSeed Real Estate Services in Atlanta for about $32 million. First State entered into a 15-year lease with renewal options. The transaction “enabled First State … to unlock substantial […]
Wise US to pay $4M penalty to address AML deficiencies
Wise US will pay a $4.2 million penalty to resolve a dispute with six state financial regulators. The unit of U.K. company Wise PLC also agreed to address deficiencies in its anti-money laundering program as part of the settlement with regulators from California, Massachusetts, Minnesota, Nebraska, New York, and Texas. Wise will conduct a lookback […]
First Northwest in Washington appoints interim CEO
First Northwest Bancorp in Port Angeles, Wash., has made a change at the top. The $2.2 billion-asset company said in a press release that Matthew Deines had resigned as president and CEO and stepped down from its board. Geraldine Bullard, the company’s chief operating officer, was named interim CEO. “As we begin the executive search […]
Webster Five in Massachusetts selects insider as new CEO
Webster Five in Auburn, Mass., has a new leader. The $1 billion-asset bank said in a LinkedIn post that Brian Westerlind had become its president and CEO. Westerlind, who was the bank’s chief financial officer, succeeded Don Doyle, who retired. “Webster Five is … a vital part of the communities we serve, a committed partner […]
Capital One to shut down Discover home equity lending business
Capital One Financial in McLean, Va., is shutting down Discover’s home equity lending business. A notification at the top of the Discover Home Loans website states that the business “is no longer accepting applications for new home equity or mortgage refinance loans, although we will continue to process applications that are in progress.” The message […]
Waypoint in Nebraska to buy branch from Astra Bank in Kansas
Waypoint Bank in Cozad, Neb., has agreed to buy a branch in Sutton, Neb., from Astra Bank in Scandia, Kan. The $373 million-asset Waypoint said in a press release that it expects to buy the branch later this summer. The price wasn’t disclosed. “We’re excited to welcome Sutton into the Waypoint Bank family,” Tim Sladek, […]
Nebraska Credit Union League selects next CEO
Brandon Luetkenhaus was named president and CEO of the Nebraska Credit Union League. Luetkenhaus succeeded Scott Sullivan, who retired on June 30. “I am excited to work with Brandon and appreciate his extensive League dedication,” Robin Larson, president and CEO of Cobalt Credit Union and the league’s chair. “His experience and leadership qualities are exceptional. […]
Bank of Hillsboro in Illinois to rebrand as Constitution Bank
Bank of Hillsboro in Illinois is rebranding. The $646 million-asset bank said it will become Constitution Bank on Sept. 2. “Constitution Bank is more than a name change, it’s a renewed commitment to who we’ve always been,” Misty Borrowman, the bank’s president and CEO, said in a press release. “We remain locally owned and community-focused, […]