An investor group has sweetened the pot in its effort to uproot Hope Bancorp’s purchase of Territorial Bancorp in Honolulu. The group, which includes banking veteran Allan Landon and Blue Hill Advisors, said in a press release that it increased its cash offer for the $2.2 billion-asset Territorial by 4.2%, to $12.50 a share. The investor group said its new offer represents a 27% premium to the initial offer from

Orrstown Financial Services in Harrisburg, Pa., disclosed that the successor to its CEO is leaving. The $3.2 billion-asset company said in a regulatory filing that Craig Kauffman will retire as chief operating officer on Sept. 30. Orrstown said his departure "is for personal reasons and is not a result of any disagreement with the company." Kauffman was CEO of Codurus Valley Bancorp, which was sold to Orrstown earlier this year.

Amerant Bancorp in Coral Gables, Fla., is looking to raise at least $150 million in capital. The $9.7 billion-asset company disclosed in a regulatory filing that it hired Stephens and Piper Sandler to handle the sale of Class A voting common stock. Net proceeds will be used for a variety of purposes, including supporting the company’s organic growth, working capital, investments in its bank, resolving nonperforming loans and potential balance

The Financial Data Exchange (FDX) has applied with the Consumer Financial Protection Bureau to become a recognized standard-setting organization to facilitate data sharing under Section 1033 of the Dodd-Frank Act. The CFBP has stated that implementing Section 1033 will “accelerate a shift toward open banking, where consumers would have control over data about their financial lives and would gain new protections against companies misusing their data.” The bureau has created

Mifflinburg Bancorp in Mifflenburg, Pa., has agreed to buy Northumberland Bancorp in Northumberland, Pa. The $567 million-asset Mifflinburg said in a press release that it will pay $34.2 million in stock for the $685 million-asset Northumberland Bancorp. The deal is expected to close in the first or second quarter of 2025. Mifflingburg said it will rebrand as Steele Bancorp as part of the transaction. Jeffrey Kapsar, Mifflinburg's president and CEO,

A group planning a bank in California has changed the location of the proposed de novo. Organizers of Elemi Bank have refiled an application with the Federal Deposit Insurance Corp. for the proposed bank, moving its headquarters to Encino from Burbank. The new application wasn’t immediately available. The original application, submitted in December, stated that the group planned to raise $25 million of initial capital. The proposed bank would be

Northeast Bank in Portland, Maine, bought a large loan portfolio. The bank said in a press release that it acquired an $805 million portfolio that largely consists of commercial real estate loans. Northeast did not disclose the seller or the price it paid. Northeast said it plans to fund the loans with brokered deposits and Federal Home Loan Bank advances. “We are very pleased with this quarter’s purchased loan activity,

ESL Federal Credit Union in Rochester, N.Y., has agreed to buy Generations Bank in Seneca Falls, N.Y. The $9.2 billion-asset credit union said in a press release that it will pay Generations Bancorp about $26.2 million in cash for the $400 million-asset bank. The deal is expected to close in the second quarter or the third quarter of 2025. The consideration will be distributed in two installments with the substantial