Strategic Insights into Banking & Fintech

Blue Ridge in Virginia freed from OCC consent order

Blue Ridge in Virginia freed from OCC consent order

Blue Ridge Bankshares in Charlottesville, Va., has been freed from a January consent order with the Office of the Comptroller of the Currency. The company made several big decisions since it was hit with the order, making Billy Beale as its CEO, raising capital, and exiting its Banking-as-a-Service vertical. "Months ago, we turned our attention to community banking with a focus on improving our customer experience while attracting new loans

November 15, 2025
First United in Md. to promote COO as its next CEO

First United in Md. to promote COO as its next CEO

First United in Oakland, Md., will begin 2026 with a new CEO. The $2 billion-asset company said in a press release that Jason Rush will also become president on Jan. 1. Rush, the company's chief operating officer, will succeed Carissa Rodeheaver, who is retiring Rodeheaver will remain executive chairman until the company's May 7 annual meeting. Rush is expected to join the board.

November 15, 2025
Activist investor launches new effort to push Blue Foundry’s sale

Activist investor launches new effort to push Blue Foundry’s sale

Activist investor Lawrence Seidman continues to pressure Blue Foundry Bancorp, this time pressing the Rutherford, N.J., company to replace its management team or find a buyer. Seidman, who says he owns about 0.8% of the $2.1 billion-asset company's stock, sent a letter to the board making his demands. Blue Foundry has lost money in each of the past 11 quarters. It had a 110.15% efficiency ratio in the third quarter.

November 13, 2025
Rosedale in Md. buys deposits, certain assets from Eastern Savings Bank

Rosedale in Md. buys deposits, certain assets from Eastern Savings Bank

Rosedale Bank in Baltimore has acquired the deposits and certain liabilities from Eastern Savings Bank in Hunt Valley, Md. The $1.3 billion-asset Rosedale also bought deposit account overdrafts, overdraft lines of credit, and certain other assets that belonged to Eastern Savings, according to an announcement by Olsen Palmer, which advised Rosedale. The pricing wasn't disclosed. No other loans were purchased.  

November 12, 2025
Richmond Mutual to buy Farmers Bancorp in Indiana

Richmond Mutual to buy Farmers Bancorp in Indiana

Richmond Mutual Bancorp. in Richmond, Ind., has agreed to buy Farmers Bancorp in Frankfort, Ind. The $1.5 billion-asset Richmond Mutual said in a press release that it will pay $82 million in stock for the $1.1 billion-asset Farmers. The deal, which is expected to close in the second quarter, priced Farmers at 100% of its tangible book value. The combined bank will be rebranded before closing. Five Farmers' directors will

November 12, 2025
Rhineland Bancshares to buy BancStar in Missouri

Rhineland Bancshares to buy BancStar in Missouri

Rhineland Bancshares in Rhineland, Mo., has agreed to buy BancStar in Pacific, Mo. The $801 million-asset Rhineland expects to complete its purchase of the $191 million-asset BancStar in the first quarter, according to an announcement by Olsen & Palmer, which advised the seller. The price wasn't disclosed. BancStar has three branches.

November 11, 2025
Cornerstone Capital in Alabama forms mortgage joint venture

Cornerstone Capital in Alabama forms mortgage joint venture

Cornerstone Capital Bank in Auburn, Ala., has formed a mortgage partnership with a homebuilder. The bank said in a press release that Ironcrest Mortgage, the venture with Stone Martin Builders, will leverage its lending expertise with the builder's custom homebuilding experience. "We're excited to merge Cornerstone's proven national lending platform with Stone Martin's deep roots and dedication to durable, custom construction," Trey Bell, the bank's builder division president, said in

November 11, 2025
Mutual Bancorp to absorb Bluestone Bank in Massachasetts

Mutual Bancorp to absorb Bluestone Bank in Massachasetts

Mutual Bancorp in Hyannis, Mass., and Bluestone Bank in Raynham, Mass., are merging. Mutual Bancorp, the $7 billion-asset parent of Cape Cod 5 and Fidelity Bank, said in a press release that it expects to complete the merger with the $1.6 billion-asset Bluestone in the third quarter of 2026. Mutual Bancorp will become the largest mutual in New England and the third largest in the country. “Our teams have worked together

November 10, 2025