Strategic Insights into Banking & Fintech

HBT to buy Tri-County Financial in Illinois for $205 million

HBT to buy Tri-County Financial in Illinois for $205 million

HBT Financial in Bloomington, Ill., has agreed to buy Tri-County Financial Group in Mendota, Ill. The $6.7 billion-asset HBT said in a press release that it will pay $204.6 million in cash and stock for the $1.6 billion-asset Tri-County. The deal, which priced Tri-County at 131% of its tangible book value, is expected to close in the first quarter. Tri-County has 19 branches, $1.3 billion of loans, and $1.3 billion

August 10, 2026
CCBank in Utah rebranding as Accordia Bank

CCBank in Utah rebranding as Accordia Bank

CCBank in Pleasant Grove, Utah, and its mortgage subsidiary are rebranding. The bank and Security Home Mortgage will rebrand as Accordia Bank and Accordia Mortgage. The change "is a strategic marketing and brand decision driven by ... significant growth," the bank said. "Recognizing that the organization had outgrown its current name, leadership initiated a rebrand to establish a strong, distinctive identity that reflects the institution's scale, sophistication, and ambition today."

August 9, 2026
OCC denies bunq’s application to charter a U.S. national bank

OCC denies bunq’s application to charter a U.S. national bank

The Office of the Comptroller of the Currency has rejected an application from Dutch fintech bunq to launch a national bank in the U.S., citing capital, management, and safety-and-soundness concerns that spanned nearly every factor regulators weigh in chartering decisions. The application, filed under the proposed name bunq US Bank, was sponsored by Bunq US Holding, a company that would be majority owned by Ali Niknam, who also holds majority

August 8, 2026
Great Lakes Credit Union in Ill. backs data integration CUSO

Great Lakes Credit Union in Ill. backs data integration CUSO

Great Lakes Credit Union in Bannockburn, Ill., has invested in Nook, a credit union service organization (CUSO) that provides data integration, member relationship management, and engagement technology for credit unions. Nook said the investment will support development of its data infrastructure and technology. The amount wasn't disclosed. "Our investment in Nook reflects our belief that credit unions should help shape the technology they rely on," Michael Abraham, the credit union's chief

August 7, 2026
AltaOne FCU in California invests in earned wage access platform

AltaOne FCU in California invests in earned wage access platform

AltaOne Federal Credit Union in Ridgecrest, Calif., has invested in Veep Software. As part of the investment, the companies launched AnyTimePay, an earned wage access platform that lets members access wages they have earned before payday. The amount of the investment wasn't disclosed. "At AltaOne, we are always looking for innovative ways to strengthen the financial well-being of our members," Stephanie Sievers, AltaOne's CEO, said in a statement. "Too often,

August 7, 2026
River City Bank in Calif. sells $121M in stock for two investors

River City Bank in Calif. sells $121M in stock for two investors

River City Bank in Sacramento, Calif., sold $121.5 million in stock for two shareholders. The bank said in a press release that it sold 2.7 million shares for $45 each as part of the initial public offering, which was structured as a secondary offering for investors tied to the family of the bank's founder. The bank did not receive any proceeds from the IPO. Raymond James and Keefe, Bruyette &

August 6, 2026
SOLO Data Exchange to coordinate with federal regulators

SOLO Data Exchange to coordinate with federal regulators

The SOLO Network, a customer data-sharing and reusable-verification platform, is running a bank reliance pilot observed by FinCEN and coordinated with federal regulators. The company said in a press release that the Treasury Department, Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corp. are involved with the pilot's coordination, a move that could eventually create scale for reliance-based verification. Banks and fintechs re-verify the same clients

August 6, 2026
Stablecoin clearing house Augustus clears hurdle to open national bank

Stablecoin clearing house Augustus clears hurdle to open national bank

Augustus, previously known as Ivy, has received conditional approval from the Federal Deposit Insurance Corp. for deposit insurance. Augustus, which recently obtained similar clearance from the Office of the Comptroller of the Currency to form a national bank, is expected to become a clearing bank built on a stablecoin and an AI-native core. The FDIC is requiring the bank to have nearly $73.7 million in initial capital. Co-Founder Ferdinand Dabitz

August 5, 2026