Peoples Bancorp in Marietta, Ohio, has agreed to buy Capital Bancorp in Rockville, Md. The $9.5 billion-asset Peoples said in a press release that it will pay $728.1 million in stock for the $3.9 billion-asset Capital. The deal, which is expected to close in the first half of next year, priced Capital at 191% of its tangible book value. Capital has four business segments: commercial banking, OpenSky for secured credit

A group has rejuvenated an effort to form a bank in Washington, D.C., that would focus on the Ethiopian-American community. Organizers have reapplied to the Federal Deposit Insurance Corp. to create Mooddai International Bank . The application wasn't immediately available. Admassu Abebe is set to serve as chairman, according to the proposed bank's website. Tekalign Gedamu is a senior adviser. Eight Ethiopian-Americans submitted the original application to regulators in October 2023,

Trustar Bankshares in McLean, Va., is raising $28.1 million through a private placement of common and preferred stock. The company said in a press release that it will sell the shares to JCSD Mclean Investors and certain Trustar directors. The additional capital will support the Bank after it buys branches and assets from Forbright Bank; that deal is expected to close later this year. Trustar expects to issue about 1.4

Valley National Bancorp in New York has agreed to buy fintech Bluevine in Jersey City, N.J. The $66 billion-asset Valley said in a press release that it will pay $340 million in cash and stock for Bluevine. The deal is expected to close early next year. Valley will gain $2.1 billion of low-cost, digitally-sourced deposits when it buys Bluevine. The seller’s engineering, product, data science and AI talent should accelerate

BCB Bancorp in Bayonne, N.J., has agreed to sell several portfolios of problem loans — most rated criticized or classified under the bank's internal risk rating system — continuing the aggressive credit cleanup under new CEO Thomas O'Brien. BCB said it recently signed agreements with six separate buyer to sell loans with an aggregate unpaid principal balance of about $205.3 million as of June 30. The portfolios break down into

Nano Banc in Irvine, Calif., was closed by California's Department of Financial Protection and Innovation. The Federal Deposit Insurance Corp., appointed as receiver, entered into a purchase and assumption agreement with Sunwest Bank in Sandy, Utah, to assume substantially all of Nano Banc's $686 million of deposits and acquire $476 million of assets. The DFPI, in its release, said it closed Nano Banc after years of executive mismanagement, a series of

Mission Lane received conditional approval from the Office of the Comptroller of the Currency to become a nationally chartered credit card bank. The OCC approved the fintech’s application to form Mission Lane Bank National Association about five months after it was submitted. Mission Lane aims to bring affordable credit cards to consumers with limited access to traditional banking services. “Mission Lane was founded to leverage data and technology to facilitate access

The Federal Deposit Insurance Corp. has issued a sweeping prompt corrective action directive against Old Glory Bank in Elmore City, Okla., citing a leverage ratio of just 2.69% on June 30 and classifying the institution as “significantly undercapitalized.” The Aug. 28 directive required the bank to submit an updated capital restoration plan and imposed a broad range of restrictions on its operations, capital, deposits, management and potential strategic alternatives. The