De novo bank opens in Georgia
Moultrie Bank & Trust, a recently approved de novo bank, has opened. The bank opened on May 9, the Federal Deposit Insurance Corp. noted on its website. Organizers were required in a Dec. 13 order from the FDIC to raise $20 million before opening. The group behind the de novo applied for deposit insurance last July. A […]
FirstBanc to buy Ala. branches from Southern States
FirstBanc of Alabama in Talladega has agreed to buy two branches from Southern States Bancshares in Anniston, Ala. The $850 million-asset FirstBanc said in a press release Monday that it will buy locations in the Alabama communities of Heflin and Ranburne. Most of the loans and deposits will also transfer to FirstBanc. The […]
Proposed N.H. mutual gets state approval
Organizers of the proposed Walden Mutual Bank have received conditional approval from the New Hampshire Banking Department. Walden Mutual, which is seeking to become the first new mutual in years, has already made a few loans. The bank would be based in Concord. The group behind the effort is looking to raise at least $25 […]
Friendly Hills Bancorp forms truck lending group
Friendly Hills Bancorp in Whittier, Calif., has created a specialty lending group focused on financing commercial trucks and vehicles. The parent of the $292 million-asset Friendly Hills Bank said in a press release Monday that its truck lending group will provide capital for buying or refinancing on-road medium duty and heavy duty vehicles. The division […]
Cape Cod Five Cents names new CEO
Cape Cod Five Cents Savings Bank in Hyannis, Mass., has new leadership. The $4.6 billion-asset bank said last week that Matt Burke had become its CEO, while Bert Talerman was named its president. They each succeeded Dorothy Savarese, who will remain executive chairman for one more year. “Cape Cod 5 is an organization whose purpose […]
First Northern in California lines up next CEO
First Northern Community Bancorp in Dixon, Calif., is preparing for its next leader. The $1.9 billion-asset company said in a press release Friday that Louise Walker will retire as president and CEO on Dec. 31. Jeremiah Smith, First Northern’s chief operating officer, will succeed Walker on Jan. 1. Walker will remain the company’s board, while Smith […]
Ames National in Iowa selects next chairman
Ames National in Iowa has a new chairman. The parent of the $1.1 billion-asset First National Bank said in a press release that Thomas Pohlman had stepped down after five years as its chairman. He was succeeded by Patrick Hagan. Pohlman, who has been on the board for 15 years, will remain a director until […]
Truist CFO Daryl Bible to retire
Truist Financial in Charlotte, N.C., is looking for its next chief financial officer. The $544 billion-asset company said in a press release Friday that Daryl Bible will retire as its CFO. He will remain at Truist until they hire his successor. “Daryl has played an instrumental role in the success of our merger of equals—one […]
Coastal Financial hires outsider as president
Coastal Financial in Everett, Wash., has a new president. The $2.8 billion-asset company said in a press release Wednesday that it had hired Curt Queyrouze for the post. He succeeded Eric Sprink, who remains CEO. Queyrouze previously served as president and CEO of TAB Bank in Utah. “As Coastal becomes a more complex and rapidly […]
Women-owned bank set to debut in Houston
Agility Bank, a proposed women-owned de novo bank with a digital focus, is set to open next week. Organizers of the women-run bank, which is planned to open in Houston, made the announcement in a Wednesday press release. The bank will open with $35 million in initial capital. The group behind the nationally chartered bank […]
Republic First CEO sues Republic First
Vernon Hill has filed a lawsuit against Republic First Bancorp in Philadelphia – where he is the CEO. Hill’s lawsuit, filed Tuesday in U.S. District Court for the Eastern District of Pennsylvania, is seeking a temporary restraining order to block the $5.7 billion-asset company’s board from conducting business without a quorum, communicating with bank employees […]
BayFirst closes three mortgage-origination offices
BayFirst Financial in St. Petersburg, Fla., has closed three mortgage offices after shutting down its primary consumer direct mortgage business. The $889 million-asset company said in a regulatory filing Wednesday that the closure was part of a broader restructuring of its residential mortgage division. BayFirst closed residential loan production offices in Overland Park, Kan.; New […]
Proposed Arizona de novo gets state approval
Organizers of the proposed Integro Bank in Phoenix have received conditional approval from the State of Arizona Department of Insurance and Financial Services. The group must raise at least $27.9 million in capital. The effort also needs approval from the Federal Deposit Insurance Corporation to obtain deposit insurance. “With this state regulatory approval representing a major […]
Hearings set for deals involving Canadian acquirers
The Federal Reserve and the Office of the Comptroller of the Currency will hold public hearings on BMO Financial’s planned acquisition of Bank of the West and TD Bank’s proposed purchase of First Horizon. The hearing for the $16 billion merger of BMO and Bank of the West is set for July 14, while the […]
CSBS President/CEO John Ryan dies unexpectedly
John Ryan, president and CEO of the Conference of State Bank Supervisors, has died. The organization, which represents state banking regulators, said in a statement Tuesday that Ryan passed away unexpectedly the day before. James Cooper, executive vice president of policy and supervision, was named acting CEO. “On behalf of the CSBS board of directors, […]
CBTX, Allegiance to rebrand as Stellar after merger
CBTX and Allegiance Bancshares in Houston will rebrand as Stellar Bancorp following their merger. The $4.5 billion-asset CBTX and the $7.2 billion-asset Allegiance announced their proposed merger in November. The deal is expected to close in the second quarter. The bank will be known as Stellar Bank. “When we heard the name Stellar, it fit,” […]
Emclaire had two offers before striking deal with Farmers
Farmers National Banc Corp. in Canfield, Ohio, was one of two banks to make an offer for Emclaire Financial in Emlenton, Pa. The $4.1 billion-asset Farmers agreed in late March to buy the $1.1 billion-asset Emclaire for $105 million. The move will provide Farmers with its first branches in Pittsburgh. Farmers easily cemented its position […]
RBB vice chairman resigns over governance dispute
RBB Bancorp in Los Angeles, which replaced its CEO after a probe found violations of company policies, is facing criticism from its former vice chairman. Raymond Yu resigned from the $4.2 billion-asset company last week. In his resignation letter, Yu said he was leaving due to “ongoing disagreements with the board regarding corporate governance and […]
U.S. Bancorp moves deadline for buying MUFG Union
U.S. Bancorp in Minneapolis has confirmed that it will not complete its planned purchase of MUFG Union Bank along the timeline it originally provided. The $586 billion-asset company said when it announced the $8 billion acquisition in September that it expected to complete the acquisition by June 30. U.S. Bancorp said in a regulatory filing Monday that […]
Vernon Hill ousted as Republic First’s chairman
In a sudden and unexpected turn of events, Vernon Hill has been removed as chairman of Republic First Bancorp. Hill was replaced by Harry Madonna, his predecessor at the $5.7 billion-asset company, following the death of Theodore Flocco. Flocco’s passing led to a power shift on the divided board, allowing a faction opposed to Hill […]
First Bancshares in Minn. to buy Maple Bank
First Bancshares in Cold Spring, Minn., has agreed to buy Maple Bank in Champlin, Minn. First Bancshares, the parent of the $145 million-asset Granite Bank, did not disclose the price it will pay for the $95 million-asset Maple. The deal is expected to close early in the third quarter. Granite Bank will enter Minnesota’s Hennepin […]
Bank OZK completes solar panel plant
Bank OZK in Little Rock, Ark., has finished construction of a 4.8-megawatt solar power plant in Stuttgart, Ark. The $26.6 billion-asset bank said in a press release that the 11,265-panel plant should produce enough electricity to power its corporate headquarters and up to 40 branches in central Arkansas. Bank OZK did not disclose the costs […]
White River in Ark. launching bilingual bank brand
White River Bancshares in Fayetteville, Ark., is launching a bilingual bank brand. The parent of the $852 million-asset parent Signature Bank of Arkansas said in a press release Friday that its Banco Sí division will officially open in Rogers, Ark., in September. The bank, which is expected to have 10 employees, will be led by […]
ServisFirst rounding out leadership in North Carolin
ServisFirst Bancshares in Birmingham, Ala., has hired two key executives for its operations in North Carolina. The $15 billion-asset company said in a press release Friday that Craig May III had been named Charlotte regional president. May previously served as a managing director and Carolinas region manager for JPMorgan Chase. ServisFirst also hired Robert Shell […]
Michigan group applies to open de novo bank
A group in Traverse City, Mich., is looking to form a de novo bank. Organizers of the proposed Sovereign Bank applied with the Federal Deposit Insurance Corp. on Tuesday for deposit insurance. The bank will be focused on real estate lending, consisting of commercial real estate loans, multifamily loans and home equity loans, the application […]