A large group of banking associations is petitioning the Federal Deposit Insurance Corp. to reconsider its decision to approve deposit insurance for Edward Jones. The FDIC gave the brokerage firm conditional approval in February. Edward Jones reapplied for an industrial loan charter in April 2025, resuming an effort it abandoned in late 2022. The Independent Community Bankers of America, along with 38 state banking associations, sent a letter to the

Coinbase received conditional approval for a national trust charter from the Office of the Comptroller of the Currency. The approval "is the result of years of investment in compliance, engagement with regulators, and belief that the right path forward for crypto is through the system — not around it,” Greg Tusar, co-CEO of Coinbase Institutional, wrote in a note posted on the company's website. “Let me be direct about what

Community Bank Owatonna in Minnesota has a new CEO. The $98.4 million-asset bank said that Derek Skala had also become its president. Skala was vice president of credit, risk and business development at Central Farm Service. Skala “has built his banking career through progressive leadership roles with experience in credit administration and relationship management, along with a strong specialization in agricultural banking,” the bank said. “Derek also brings experience in

Bruce Jensen is again looking to lead a de novo bank in Utah. Jensen is the proposed CEO of Bank of St. George, which recently applied to the Federal Deposit Insurance Corp. He was also set to lead a bank with the same name that received conditional FDIC approval in 2019 but ultimately did not open. The latest iteration of the bank would be completely funded by Fred Lampropoulos, who

Quaint Oak Bancorp in Southampton, Pa., has been freed from May 2025 enforcement actions. The company disclosed in a regulatory filing that its bank was released from consent orders from the Federal Deposit Insurance Corp. and the state of Pennsylvania. The orders were tied to the bank's compliance with the Bank Secrecy Act and followed an on-site exam. "During the remediation period, the bank implemented substantial enhancements to its compliance

Longhorn Medical Holdings in Tyler, Texas, has applied to become a bank holding company so it can buy Robert Lee Bancshares in Robert Lee, Texas. Longhorn plans to form Ranger Bank to absorb the $44 million-asset Robert Lee State Bank. The price wasn't disclosed. Commerce Street Capital advised the buyer.

Iowa Trust & Savings Bank in Emmetsburg has a new leader lined up. The $523 million-asset bank said that Scott Menke will become CEO on April 21. Menke, who is the bank's chief credit officer, will succeed Kris Ausborn, who is retiring.

A group in Houston is planning to open a new bank. Organizers on March 31 applied to the Federal Deposit Insurance Corp. for deposit insurance for the proposed Alba Bank. The application wasn't immediately available. A legal notice tied to the application lists five organizers: George Martinez, Richard Figueroa, William Woodby, Gregg Reyes and Thomas Reiser. The FDIC currently has seven active applications for deposit insurance, including petitions from Revolut, Upstart,