Strategic Insights into Banking & Fintech

Arrow Financial in N.Y. buying insurance agency in its backyard

Arrow Financial in N.Y. buying insurance agency in its backyard

Arrow Financial in Glens Falls, N.Y., has agreed to buy Skene Valley Agency. Arrow said in a press release that it expects to buy the Glens Falls insurance agency by the end of this month. The price wasn't disclosed. "This strategic growth opportunity will allow us to deepen [our] presence in Washington County, where we have a long history of meeting diverse financial needs," said David DeMarco, Arrow's president and

September 11, 2026
Bank7 in Oklahoma inches closer to buying New Mexico bank

Bank7 in Oklahoma inches closer to buying New Mexico bank

Bank7 Corp. in Oklahoma City has emerged as the winning bidder in a court-supervised auction for roughly 71% of Century Financial Services in New Mexico. Bank7 disclosed in a regulatory filing that it agreed to raise its purchase price from $68 million to nearly $89 million. The roughly 237,000 shares became available for sale after a federal court in Arizona appointed a receiver to oversee their sale as part of

September 11, 2026
North Dakota Bankers Association CEO to retire in mid-2027

North Dakota Bankers Association CEO to retire in mid-2027

The North Dakota Bankers Association is looking for its next leader. The association said in a press release that Rick Clayburgh will retire as president and CEO in mid-2027. "The announcement provides time for a thoughtful leadership transition while celebrating a career marked not only by influential advocacy and industry leadership, but by a lasting commitment to developing people, strengthening relationships, and shaping the future of North Dakota banking," the

September 10, 2026
Mercury gets conditional FDIC approval to open its planned bank

Mercury gets conditional FDIC approval to open its planned bank

Mercury is one step closer to opening a bank. The fintech received conditional approval for deposit insurance from the Federal Deposit Insurance Corp.  The FDIC is requiring the bank to have $300 million in initial capital. The Office of the Comptroller of the Currency gave conditional approval in April. "Deposit insurance approval isn't a formality," Jon Auxier, Mercury's chief banking officer and the proposed bank's president and CEO, shared on

September 10, 2026
Organizers set to open Nola Bank in New Orleans

Organizers set to open Nola Bank in New Orleans

Nola Bank is set to open in New Orleans next week. The de novo will debut on Sept. 14, co-founder Chris Shah wrote in a LinkedIn post. "Opening a new community bank is no small undertaking," Shah wrote. "This milestone represents years of vision, determination, collaboration, and an unwavering belief in the communities we will serve." Organizers received conditional approval in August 2025, which required them to raise $26.4 million

September 10, 2026
Trustmark in Miss. uses sale-leaseback deal to offset securities loss

Trustmark in Miss. uses sale-leaseback deal to offset securities loss

Trustmark in Jackson, Miss., is using proceeds from a sale-leaseback transaction to offset a hit from selling underperforming securities. The company disclosed in a regulatory filing that it sold 34 branches in Mississippi, Florida, Tennessee, Alabama and Texas to Blue Owl for $91.7 million, or a $61.5 million pretax gain. Trustmark then signed 15-year leases for the locations at an initial aggregate amount of $6.4 million with 1.5% annual rent increases.

September 10, 2026
Proposed Texas de novo sets sights on NIL market

Proposed Texas de novo sets sights on NIL market

A 40-year-old mortgage company is looking to become a bank built specifically to serve college and professional athletes. Data Mortgage, which operates as Essex Mortgage, applied to the Texas Department of Banking and the Federal Deposit Insurance Corp. to convert to a Texas state-chartered bank called Bank Elevated. The Aug. 28 application would let the bank retain Essex's tax identification number and its seller-servicer approvals, allowing mortgage origination to continue

September 9, 2026
Chime to buy sponsor partner Stride Bank in $590M cash deal

Chime to buy sponsor partner Stride Bank in $590M cash deal

Chime has agreed to buy Stride Bank, which has served as its sponsor bank for the past seven years. The San Francisco fintech said in a press release that it will pay $590 million for the Enid, Okla., bank, which will be rebranded as Chime Bank. Chime noted that buying Stride will eliminate partner-bank fees, reduce funding costs, and improve unit economics. The deal, which is expected to close in

September 8, 2026