Heritage in Wash. to enter Boise, Idaho, market
Heritage Financial in Olympia, Wash., has entered the Boise, Idaho, market after hiring a lending team. The $7.2 billion-asset company said in a press release that it hired Mike Trueba to serve as commercial team leader and Kara Aburusa as a credit analyst senior. Heritage plans to hire more commercial relationship managers, deposit relationship managers […]
Integrated Financial CEO dies in plane crash
The CEO of Integrated Financial Holdings in Raleigh, N.C., has died in a plane crash in southern Virginia. Eric John Bergevin was also Integrated’s president. The crash occurred on Saturday, the $390 million-asset company said in a press release. Another passenger on the plane, Christian Rask Fauchild, also died, according to multiple media outlets. “This […]
Citizens Bank in Miss. announces CEO retirement
Citizens Bank of Philadelphia in Mississippi said that its CEO is retiring. The $1.4 billion-asset unit of Citizens Holding said in a press release that Greg Mckee will also step down as its president on Jan. 31. He will remain on the bank’s board and still serve as president and CEO of the parent company. […]
Columbia, Umpqua get final regulatory approval
Columbia Banking System in Tacoma, Wash., and Umpqua Holdings in Portland, Ore., expect to complete their merger in February after receiving approval from the Federal Deposit Insurance Corp. The $20.4 billion-asset Columbia and the $31.5 billion-asset Umpqua said in a press release that the FDIC was the final regulator to sign off on the transaction. […]
Bancorp 34 in Ariz. raises $14M from private placement
Bancorp 34 in Scottsdale, Ariz., has raised $14 million through a private placement of common and preferred stock. The $572 million-asset company said in a press release that the private placement was led by Castle Creek Capital. The company sold about 511,000 shares of common stock and roughly 522,000 shares of non-voting preferred stock. The […]
First of Long Island adds activist investor to its board
First of Long Island in Melville, N.Y., plans to appoint a well-known activist investor to its board. The $4.3 billion-asset company said in a press release that it will nominate J. Abbott R. Cooper from Driver Management to stand for election at its upcoming annual meeting. The appointment, which would keep Cooper on the board […]
Nuvei to buy payments processor Paya Holdings
Nuvei, a payment technology firm in Montreal, has agreed to buy Paya Holdings, an integrated payments platform based in Atlanta. Nuvei will buy Paya from GTCR, a private equity firm, in an all-cash transaction with a total enterprise value of about $1.3 billion. Paya serves clients in the B2B, government, utilities, nonprofit and health care markets. […]
Legacy Bank in Mo. forms multifamily lending unit
Legacy Bank and Trust in Mountain Grove, Mo., has formed a mortgage unit. Legacy Capital Mortgage is “a HUD-approved multifamily accelerated processing lender,” according to its LinkedIn page. Brett Magers, the $1.1 billion-asset bank’s CEO, also updated his LinkedIn profile to list himself as the unit’s CEO. “We are excited about our new endeavor to […]
Western Alliance to open tech hub in Ohio
Western Alliance Bancorp. in Phoenix plans to open a technology hub in Westerville, Ohio. The $69 billion-asset company said in a press release that it will invest $2.2 million to create 150 jobs for the hub. Western Alliance plans to hire engineers, data analysts, developers, finance specialists and network operators. “The robust talent pipeline, concentration […]
Metropolitan in NY to shut down its crypto business
Metropolitan Bank Holding in New York plans to fully exit the crypto-asset business. The $6.4 billion-asset company said in a press release that the decision “follows a careful review” and reflect recent developments in the crypto space and “material changes” in the regulatory environment regarding banks’ involvement in the business. Metropolitan said it has four […]
First Guaranty in La. to buy Lone Star Bank in Houston
First Guaranty Bancshares in Hammond, La., has agreed to buy Lone Star Bank in Houston. The $3.1 billion-asset First Guaranty said in a press release that it will pay $78.7 million in stock for the $151 million-asset Lone Star. The deal priced Lone Star at 150% of its tangible book value. “First Guaranty Bank’s philosophy […]
Retired Wells Fargo economist forms consulting firm
Mark Vitner, retired chief economist for Wells Fargo, has created his own business. Vitner announced on his LinkedIn page that he had formed Piedmont Crescent Capital, an independent economic consulting firm. Piedmont Crescent aims to provide economic analysis to businesses, state and local governments, and industry trade groups. Vitner, a mainstay at conferences and academic […]
Independent in Mass. hires M&T exec as next CEO
Independent Bank in Rockland, Mass., has selected its next CEO. The $20 billion-asset company said in a press release that Jeffrey Tengel will succeed Christopher Oddleifson on Feb. 6. Tengel, who also joined Independent’s board, previously served as head of commercial specialty banking at M&T Bank. Before that, he was president of People’s United Financial, […]
Hope Bancorp brings back retired exec in interim role
Hope Bancorp in Los Angeles is bringing back one of its retired executives on an interim basis. The $19.1 billion-asset company said that David Malone is returning to serve as interim chief financial officer. He will succeed Alex Ko, who resigned “to pursue other opportunities” but will serve as a consultant through March 31. Hope […]
Parkway Acquisition in Va. rebrands as Skyline Bankshares
Parkway Acquisition in Independence, Va., has changed its name to match its bank brand. The parent of the $1 billion-asset Skyline National Bank disclosed in a regulatory filing that it amended its articles of incorporation to become Skyline Bankshares. Parkway was created in July 2016 when Grayson Bankshares and Cardinal Bankshares merged. The surviving bank […]
HNB Bancorp to buy Northeast Missouri Bancshares
HNB Bancorp in Hannibal, Mo., has agreed to buy Northeast Missouri Bancshares in Louisiana, Mo. The parent of the $649.9 million-asset HNB National Bank said in a press release that it expects to complete the purchase of Northeast Missouri in the second quarter. The price wasn’t disclosed. Northeast Missouri is the holding company for the […]
Encore Bank in Ark. adds banking vet to board
Encore Bancshares in Little Rock, Ark., has added a Florida banker to its bank’s board. The company said in a press release that Rita Lowman is one of three new directors at the $2.8 billion-asset Encore Bank. Lowman was president of Pilot Bank in Tampa, Fla., which was sold last year to Lake Michigan Credit […]
Minnesota credit union hires banker as next CEO
Mid Minnesota Federal Credit Union in Baxter, Minn., has hired a banking veteran as its president and CEO. The $661 million-asset credit union said in a press release that Bob Gerads succeeded Chuck Albrecht, who retired last year. Gerads was the chief deposit officer at Falcon National Bank in Foley, Minn. “I know I speak […]
First Business in Wis. reshuffles exec positions
First Business Financial Services in Madison, Wis., has a new president. The $2.9 billion-asset company said in a press release that Dave Seiler will remain its chief operating officer. Seiler, who joined the company in 2016, oversees all revenue-generating business lines and various internal operations areas. Seiler succeeded Corey Chambas, who remains the company’s CEO. […]
Retired CBA leader joins BCG as senior adviser
Richard Hunt is finding ways to stay busy after retiring as CEO of the Consumer Bankers Association. Hunt announced on his LinkedIn page that he had become a senior adviser at Boston Consulting Group and an advisory board member at SentiLink. Hunt led the CBA from 2009 until his retirement last summer.
Pacific West in Oregon forms holding company
Pacific West Bank in West Linn, Ore., has formed a holding company. The $291.3 billion-asset bank said in a press release that it is now a unit of Pacific West Bancorp. “The formation of the holding company will provide more efficient access to capital when the need arises and will put the bank in the […]
Securrency hires head of State Street Digital as its CEO
Securrency, a cryptocurrency infrastructure startup, has hired the head of State Street Digital as its CEO. Nadine Chakar will take over the role on Monday, succeeding Dan Doney, who became chief technology officer. Chakar also led State Street Global Markets, where she oversaw its trading, product and operations platform. She has served on Securrency’s board […]
CIBM Bank in Ill. expanding mortgage ops to six states
CIB Marine Bancshares in Champaign, Ill., plans to expand its mortgage lending operations into six states The parent of the $755 million-asset CIBM Bank said that it plans to hire about 30 loan officers as part of an expansion into Arizona, Connecticut, Florida, New York, Massachusetts and Rhode Island. The push is expected […]
Cybersecurity, credit risk top of mind for community bankers
Community bankers said cybersecurity and credit risk are their biggest challenges in 2023. About 85% of the more than 100 respondents polled by the Risk Management Association that they were concerned about cybersecurity, while 84% pointed to credit risk. The survey, conducted last summer, featured executives at banks with $10 billion or less of assets. […]
Carver State in Georgia set for leadership change
Carver State Bank in Savannah, Ga., didn’t have to look to far to find its next leader. Robert James Sr. is set to retire from the $79.5 million-asset bank. His son, Robert James II, will take over the bank’s day-to-day operations, according to Georgia Public Broadcasting News. “My son has become extremely involved in the […]