Group looks to open de novo bank in central Florida
A group in Florida is looking to open a bank. Organizers of the proposed Portrait Bank in Winter Park applied to the Federal Deposit Insurance Corp. on Aug. 27. The filing wasn’t immediately available. A group called E&J Focus in Winter Park submitted a trademark application for Portrait Bank. E&J’s managers, based on corporation filings, are […]
Battle Financial received Fed BCH approval
The organizers of the proposed Battle Financial in Edwards, Colo., have received approval from the Federal Reserve to become a bank holding company. The approval allows the group to complete its pending purchase of Stearns Bank Upsala in Upsala, Minn. Stearns Financial first disclosed plans to sell the $65 million-asset bank in March. The price […]
Commercial Bancgroup in Tennessee plans initial public offering
Commercial Bancgroup in Harrogate, Tenn., is planning an initial public offering. The $2.3 billion-asset company plans to raise $173 million, according to published reports. Net proceeds would be largely used to repay debt tied to the Community Trust Loan Agreement and to redeem outstanding subordinated debentures and trust preferred securities. Hovde Group is the sole […]
American Bancorp in Ga. to buy New Republic Bank in North Carolina
American Bancorp in Macon, Ga., has applied to buy New Republic Partners in Charlotte, N.C. The application said that the parent of the $491 million-asset American Pride Bank would indirectly acquire the $196.7 million-asset New Republic Bank. American did not disclose how much it will pay for New Republic.
Organizers planning Seattle-area de novo bank
A group has applied to open a bank in Bellevue, Wash. Organizers of the proposed United Development Bank submitted an application to the Federal Deposit Insurance Corp. on Aug. 21. The application wasn’t immediately available. A public notice tied to the application listed 25 organizers, including Charlie Guildner, a former president and CEO of North Cascades […]
OCC lifts AML-related consent order against Anchorage Digital Bank
The Office of the Comptroller of the Currency has terminated a 2022 consent order against cryptocurrency custody bank Anchorage Digital Bank. The order was tied to Anchorage’s “failure to adopt and implement a compliance program” in accordance with anti-money laundering standards. The OCC said it lifted the order after determining that the bank’s “compliance with […]
First Exchange in W.Va. promoting lending chief to become CEO
First Exchange Bank in White Hall, W.Va., has finalized its CEO succession plan. The $383.5 million-asset bank announced in a press release that Clayton Rice will assume leadership on Nov. 1. Rice, the bank’s chief lending officer, will succeed Bill Goettel, who is retiring. The board ” is deeply grateful for the leadership and vision […]
CFPB reopens debate over controversial open banking rule
The Consumer Financial Protection Bureau reopened debate over open banking, issuing a new advance notice of proposed rulemaking The notice, which kicks off a rewrite of the CFPB’s Section 1033 data-access rule, is scheduled to appear in the Federal Register on Aug. 22, with public comments due 60 days later, around Oct. 21, 2025. With […]
California Credit Union League unveils new brand
The California Credit Union League has rebranded. The association said in a press release that it changed its name to California’s Credit Unions to better reflect its mission and the 245 members it represents. “Our new name, California’s Credit Unions, is the fullest expression of who we are and the role we hold in the […]
BancPlus in Miss. shuffles leadership due to key retirements
BancPlus in Ridgeland, Miss., is making several executive and board moves. The $8 billion-asset company said in a press release that Kirk Graves will become its chairman, president, and CEO on Jan. 1. Graves, the company’s chief operating officer, will also become president and CEO of BankPlus on July 1. Graves will succeed Bill Ray […]
Dedham Savings in Mass. finalizes CEO succession
Dedham Institution for Savings in Dedham, Mass., has a new leader lined up. The $2.5 billion-asset bank said in a press release that Victoria Kane will take on the role on Sept. 1. Kane, who is chief people officer, will succeed Peter Brown, who remains the bank’s CEO and chairman and CEO of its holding […]
Cooperative Bank of Cape Cod taps CFO to become its leader
Cooperative Bank of Cape Cod in Yarmouth Port, Mass., has its next CEO lined up. The $1.6 billion-asset bank said in a press release that Erik Porter will also become its president in October. Porter, who is the chief financial officer, will succeed Lisa Oliver, who is retiring. “The talented and hardworking team at The […]
Atlantic Union in Va. cutting 51 jobs at former Sandy Spring ops center
Atlantic Union Bankshares in Richmond, Va., is continuing to cut jobs tied to its recent acquisition of Sandy Spring Bancorp in Olney, Md. The company disclosed in a WARN Act notice that it plans to eliminate 51 positions in a former Sandy Spring operations center in Columbia, Md. The cuts will take place in October. Atlantic […]
Triumph in Texas to cut 5% of its workforce
Triumph Financial in Dallas is cutting about 5% of its workforce. The $6.5 billion-asset company disclosed in a regulatory filing that the layoffs, along with other initiatives, should lead to about $4.5 million of charges, mostly occurring in the third quarter. Based on Triumph’s full-time employee count on June 30, that would be about 80 […]
Horizon in Ind. to sell stock to reposition its balance sheet
Horizon Bancorp in Michigan City, Ind., is planning to sell common stock. The $7.7 billion-asset company disclosed in a slide presentation that it plans to sell at least $90 million of stock. Horizon said in a press release that it expects to grant its underwriters a 30-day option to buy up to an additional 15% of […]
Fifth Third bolsters payments capabilities with DTS Connex purchase
Fifth Third Bancorp in Cincinnati has acquired DTS Connex, a cash management software provider. The company did not disclose how much it paid for DTS Connex, which focuses on solutions for multi-location businesses such as retailers, restaurants, and healthcare providers. “Within commercial payments, we’ve built a robust cash processing business that strengthens client relationships beyond […]
Fintech Casca raises $29M from Canapi, Huntington, Live Oak and others
Casca, a fintech looking to build an AI-native loan origination system, raised $29 million in its Series A funding round. Lukas Haffer, the fintech’s CEO, said in a LinkedIn post that the round was led by Canapi Ventures and included Huntington Bank, Live Oak Bank, Bankwell Bank, Alliance Funding Group, Peterson Ventures, Clocktower Ventures, and […]
Freshly rebranded Ascendia Bank lines up new CEO
The newly rebranded Ascendia Bank in Glen Rock, N.J., has a new leader. The $394.1 million-asset Ascendia, previously known as Glen Rock Savings Bank, said in a press release that John Allen IV will become its president and CEO on Aug. 25. Allen, who was recently chief financial officer at New Jersey Community Capital, will […]
Truckstop.com buys transportation-focused fintech Denim
Truckstop.com has acquired Denim, a transportation-focused fintech. Denim also has a factoring service that automates invoicing, reduces time-to-cash, and optimizes back-office processes. The pricing wasn’t disclosed. Performance Trust Capital Partners advised Denim.
Citizens Bank of West Virginia to buy Miners & Merchants Bank
Citizens Bank of West Virginia in Elkins has agreed to buy Miners & Merchants Bank in Thomas, W.Va. The $687 million-asset company did not disclose what it will pay for the $67.5 million Miners. The deal is expected to close in the first half of 2026. “This merger represents a strategic opportunity for Citizens to […]
Ready Capital completes first bulk sale of legacy bridge loans
Ready Capital in New York announced a series of significant portfolio actions this summer as it continues to sharpen its focus. The company sold its residential mortgage banking segment during the second quarter. On Aug. 6, Ready completed its first bulk sale of legacy bridge loans, unloading $494 million of multifamily bridge assets. The transaction, […]
Glen Burnie Bancorp in Maryland buys Florida mortgage lender
Glen Burnie Bancorp in Glen Burnie, Md., has acquired VA Wholesale Mortgage in Jacksonville, Fla. The company did not disclose the price it paid for the mortgage lender, which focuses on active-duty and retired members of the U.S. armed forces. Buying “VA Wholesale Mortgage … is a win-win,” Mark Hanna, Glen Burnie’s president and CEO, […]
TowneBank in Virginia to buy Dogwood State in North Carolina
TowneBank in Suffolk, Va., has agreed to buy Dogwood State Bank in Raleigh, N.C. The $18 billion-asset TowneBank said in a press release that it will pay $476.2 million in stock for the $2.4 billion-asset Dogwood. The deal is expected to close in early 2026. TowneBank also has a pending deal for Old Point Financial […]
CSI to buy digital banking platform provider Apiture
Computer Services Inc. has agreed to buy digital banking platform provider Apiture. Live Oak Bankshares in Wilmington, N.C., disclosed in a regulatory filing that it will record a $20 million to $25 million pretax gain from selling its stake to CSI. Live Oak co-founded Apiture in 2017 as part of a joint venture with First […]
First Guaranty in La. reports bigger 2Q loss from provision increase
First Guaranty Bancshares in Hammond, La., has amended its second-quarter results to reflect a larger loan-loss provision and a bigger quarterly loss. The company disclosed in a regulatory filing that its loss widened from $5.8 million to $7.3 million. A big factor was the provision, which increased from $14.7 million to $16.6 million. First Guaranty […]