The recently retired CEO of 1st Source in South Bend, Ind., disclosed his battle with bladder cancer. Chris Murphy, who also stepped down as president in October, wrote in a letter to shareholders that he was first diagnosed two years ago. While the cancer had been in remission, he wrote that it had returned and he will start a new chemo protocol that will force him to work remotely and

Crypto.com has received conditional approval for a national trust bank charter from the Office of the Comptroller of the Currency (OCC). The crypto exchange, which applied in October, said in a press release that its planned bank would operate as a custodian for digital asset treasuries and exchange-traded funds, among other things. “This conditional approval is the latest testament to both our commitment to compliance and to providing customers trusted

Texas Gulf Bancshares in Houston has a new bank CEO. The $695 million-asset company said in a press release that Steve Thompson has also become president of Texas Gulf Bank. Thompson, who was Houston area president at Prosperity Bank, also joined the boards of the company and the bank. “Following a thorough and deliberate search process, the board unanimously concluded that Steve is the right leader to guide the bank

OptimumBank Holdings in Fort Lauderdale, Fla., formed a new unit to support new HUD and FHA lending initiatives. OptimumFunding is expected to expand the company’s commercial real estate lending capabilities by offering bridge-to-HUD financing, FHA- and HUD-insured loan origination, and servicing and relationship management. In connection with the effort, OptimumBank will upstream a dividend to OptimumBank Holdings to facilitate a capital investment into the new unit. The amount wasn't disclosed.

M&T Bank in Buffalo, N.Y., warned that it could have some losses tied to the bankruptcy of Tricolor Holdings. The company disclosed in a regulatory filing that unit Wilmington Trust could take a hit tied to litigation stemming from the bankruptcy and alleged fraud at Tricolor. M&T said it is unable to estimate its financial exposure, though it said the losses should be immaterial. Tricolor, a subprime auto lender that

Activist investor Stilwell Group has escalated its involvement at Lake Shore Bancorp, disclosing plans to nominate an individual to challenge for a board seat at the Dunkirk, N.Y., company. The investor, who owns about 9.9% of Lake Shore’s outstanding shares, said in a regulatory filing that it plans to nominate Timothy Andruschat to join the board at the 2026 annual meeting. Stilwell also submitted a shareholder proposal calling for Lake

Kentucky First Federal Bancorp in Frankfort has been freed from an enforcement action. The company said in a press release that the Office of the Comptroller of the Currency released its bank from a August 2024 formal written agreement. With the termination of the agreement, the bank is no longer considered in “troubled condition.” “We are very pleased to have the agreement terminated in less than 20 months," R. Clay Hulette,

Hanover Bancorp in Mineola, N.Y., is restructuring its management. The company disclosed in a regulatory filing that Mac Wilcox will step down as president on March 31. He is entitled to a roughly $2.2 million severance benefit. Michael Puorro, the company's chairman and CEO, will become president.