An investor in Territorial Bancorp has vowed to vote against the Honolulu company's pending sale to Hope Bancorp in Los Angeles. Yakira Capital Management in Westport, Conn., which owns about 1.2% of the $2.2 billion-asset Terrotorial's common stock, said in a press release that the company's board "is not acting in the best financial interest of its shareholders" by refusing to discuss an alternative proposal presented by an investor group.

State Bank of Southern Utah in Cedar City will have a new CEO in 2025. The $2.5 billion-asset bank said in a press release that Trevor Andersen will also become its president on Jan. 14. He is the bank's chief lending officer. "Trevor has a visionary approach to leadership and is well-equipped to navigate the challenges and opportunities of modern banking," Joe Burgess, the bank's chairman, said in the release. "We

Family Savings Credit Union in Rainbow City, Ala., has agreed to buy two branches from Merit Bank in Huntsville, Ala. The $1 billion-asset credit union did not disclose the price it will pay the $400 million-asset Merit. The deal is expected to close in the first half of 2025. The branches include $27 million in deposits and $4 million in loans. "The transaction will have a favorable impact on earnings, bank

MainStreet Bancshares in Fairfax, Va., expects to report a third-quarter loss due to nonperforming loans. The $2.1 billion-asset company said in a press release that it would likely lose 4 cents a share in the quarter after charging off $1.9 million to successfully offload $21.8 million in nonperforming loans. The loans, originated between March 2020 and April 2021, were negatively impacted by pandemic-related construction delays, higher costs, supply chain delays

Georgia Banking Co. in Atlanta has agreed to buy Primary Bancshares in Atlanta. The $2 billion-asset Georgia Banking said in a press release that it will pay $27 million in cash and stock for the parent of the $352 million-asset Georgia Primary Bank. The deal is expected to close in the first half of next year. Georgia Primary has two branches, $320 million in deposits and $256 million in loans.

Jim Reuter's retirement didn't last long. The $30.2 billion-asset First Interstate BancSystem in Billings, Mont., hired Reuter to become its president and CEO, effective Nov. 1. He will succeed Kevin Riley, who had announced plans to retire. Reuter retired as president and CEO of FirstBank Holding in March. “Having spent more than 37 years in the banking industry, Jim is a proven leader with a strong track record of developing

Hills Bancorp. in Hills, Iowa, will start next year with a new leader. The $4.3 billion-asset company said in a press release that Lisa Shileny will become its CEO on Jan. 1. Shileny, the bank's president and chief operating officer, will succeed Dwight Seegmiller, who plans to fully retire in April. Seegmiller has led the company for 38 years.

Isabella Bank Corp. in Mt. Pleasant, Mich., disclosed about $5.6 million in exposure to two customers. The $2.1 billion-asset company said in a regulatory filing that it had been exposed to a $1.6 million loss tied to a single customer with negative balances on deposit accounts. "The financial impact could be lower and will depend ... on the bank's success in its efforts to recover the funds," the filing said.