Strategic Insights into Banking & Fintech

Carter Bankshares in Va. unloads loans tied to Sen. Jim Justice

Carter Bankshares in Va. unloads loans tied to Sen. Jim Justice

Carter Bankshares in Martinsville, Va., has severed ties with its biggest and most problematic business relationships. The $4.9 billion-asset company disclosed in a regulatory filing that it sold a batch of nonperforming loans connected to Sen. Jim Justice (R-W.Va.) and his family. Carter said it sold loans with an aggregate principal amount of roughly $209.5 million for consideration of $289.5 million in cash. The loans have not been earning interest

March 27, 2026
Heritage Bank in Minnesota taps COO to become new leader

Heritage Bank in Minnesota taps COO to become new leader

Heritage Bank in Willmar, Minn., has a new leader. The bank said that Robert Mathiasen will become its CEO on April 1. Mathiasen, who is chief operating officer, will succeed Tom Geiger, who will remain chairman. “I am deeply honored to carry forward the Geiger family’s philosophy of banking,” Mathiasen said in a press release. “Their commitment to relationships, entrepreneurship and doing what’s right for customers and communities has shaped

March 27, 2026
Riverview in Washington sells lower-yielding securities

Riverview in Washington sells lower-yielding securities

Riverview Bancorp in Vancouver, Wash., sells a large batch of securities. The $1.5 billion-asset company said in a press release that it sold $149.3 million in lower-yielding investment securities at an estimated pretax loss of $11.4 million. The move happened after Riverview reclassified all of its bonds as available-for-sale. Riverview said it expects to reinvest the proceeds into higher-yielding bonds that will be classified as available-for-sale, support loan originations, pay

March 26, 2026
Plaid buys This Week in Fintech media platform

Plaid buys This Week in Fintech media platform

Plaid bought media platform This Week in Fintech. Plaid announced the acquisition in a LinkedIn post. The price wasn't disclosed. "We are huge fans of what TWIF has evolved into, and plan to help it grow with more resources, more formats, and more ways for the community to connect — all while preserving the editorial independence and voice that TWIF subscribers trust," the post said. "The TWIF team will continue

March 25, 2026
Proposed digital bank VALT secures conditional OCC approval

Proposed digital bank VALT secures conditional OCC approval

Organizers of the proposed VALT Bank have received conditional approval from the Office of the Comptroller of the Currency. The group must raise $25 million before opening its national trust bank. VALT must maintain a 9% tier 1 leverage ratio for its first three years. The group, consisting of U.S. Bancorp veterans, applied to regulators in November. The proposed bank, which would be fully digital, aims to serve "digitally demanding"

March 25, 2026
Payments CUSO Valera sets date for CEO succession

Payments CUSO Valera sets date for CEO succession

Velera, a large payments-oriented credit union service organization, has a new leader lined up. The Tampa, Fla., CUSO said in a press release that Brian Caldarelli will become president and CEO when Chuck Fagan retires on Sept. 30. Fagan has led the group since the January 2024 combination of PSCU and Co-op Solutions. Caldarelli has been Velera’s chief administrative officer. “With our strong foundation, strategic focus on next-generation capabilities, and

March 25, 2026
Organizers apply to form de novo banks in Florida, Utah

Organizers apply to form de novo banks in Florida, Utah

Organizers have submitted applications to open banks in Florida and Utah. A group in Coral Gables, Fla., applied to create Tidestone Bank. The application wasn't immediately available, but a public notice submitted in conjunction with the application lists eight founders: Fernando Monasterio, Ernesto Monasterio, Osvaldo Monasterio, Carlos Krutzfeldt, Louis Ferreira, Christopher Avila, Alba Prestamo and Ronald Gutierrez. The Monasterios and Krutzfeldt were part of a group that tried to buy

March 25, 2026
Profile Bank in N.H. taps insider as next CEO

Profile Bank in N.H. taps insider as next CEO

Profile Bank in Rochester, N.H., has a new leader. Kevin Miller posted on LinkedIn that he was named president and CEO of the $314 million-asset bank. "What an honor it is for me to lead such an accomplished group of banking professionals," Miller wrote. "I am so excited to see everything that our tremendous team will accomplish in the coming days, months and years!" Miller was chief operating officer and

March 25, 2026