Strategic Insights into Banking & Fintech

National Bank in Denver shuffles execs with new president, CFO

National Bank in Denver shuffles execs with new president, CFO

National Bank Holdings in Denver has a new president. The $9.97 billion-asset company said in a press release that Aldis Birkans had succeeded Tim Laney, who remains chairman and CEO. Birkans, who will have oversight of the company’s business lines, was chief financial officer. Nicole Van Denabeele, who had been chief accounting officer, was named CFO. Emily Gooden was named chief accounting officer and will remain investor relations director. “I’m

September 10, 2024
Camden National in Maine to buy Northway Financial in N.H.

Camden National in Maine to buy Northway Financial in N.H.

Camden National in Camden, Maine, has agreed to buy Northway Financial in North Conway, N.H. The $5.7 billion-asset Camden National said in a press release that it will pay $86.6 million in stock for the parent of the $1.3 billion-asset Northway Bank. The deal, which is expected to close in the first quarter, priced Northway at 139% of its tangible book value. “This union will increase our size and scale,

September 10, 2024
Huntington planning push into Carolinas, corporate mortgage finance

Huntington planning push into Carolinas, corporate mortgage finance

Huntington Bancshares in Columbus, Ohio, is planning a major push into the Carolinas and into corporate mortgage finance. The $196 billion-asset company said in a press release that it plans to hire 350 people and open 55 branches in North and South Carolina over the next five years. Separately, the company said recent hire Ken Logan will oversee a push into corporate mortgage finance. He recently worked at Signature Bank. Huntington

September 9, 2024
Banking vet Lagomarsino named president of First Foundation in Texas

Banking vet Lagomarsino named president of First Foundation in Texas

Simone Lagomarsino is taking on even more responsibility at First Foundation in Dallas. The $13.6 billion-asset company disclosed in a press release that Lagomarsino had become its president, succeeding Scott Kavanaugh. She had already been named the bank’s president as part of a recent capital raise. Kavanaugh remains the company’s CEO. First Foundation raised $228 million this summer in a a deal that will help it lower its concentration of

September 9, 2024
NBT Bancorp to buy Evans Bancorp in New York for $236 million

NBT Bancorp to buy Evans Bancorp in New York for $236 million

NBT Bancorp in Norwich, N.Y., has agreed to buy Evans Bancorp in Williamsville, N.Y. The $13.5 billion-asset NBT said in a press release that it will pay $236 million in stock for the $2.3 billion-asset Evans. The deal is expected to close in the second quarter. “We are confident [the acquisition] is a high-quality and incredibly impactful way to expand NBT’s presence into western New York,” Scott Kingsley, NBT’s president

September 9, 2024
KeyCorp sells low-yielding securities at $700M loss

KeyCorp sells low-yielding securities at $700M loss

KeyCorp in Cleveland repositioned its balance sheet. The company, which recently agreed to sell a big stake in itself to Scotiabank, sold $7 billion of low-yielding securities at an after-tax loss of $700 million. The securities that were sold had a weighted average book yield of about 2.3% and an average duration of roughly six years. The first $800 million tranche of Scotiabank’s investment recently closed.

September 9, 2024
Customers in Pa. replaces chief risk officer with Capital One executive

Customers in Pa. replaces chief risk officer with Capital One executive

Customers Bancorp in West Reading, Pa., which was recently hit with an enforcement action, has a new chief risk officer. The $21 billion asset company said in a press release that Nick Robinson had taken over the role at its bank. It also created the new position of chief banking officer, which was filled by Lyle Cunningham, who had been chief lending officer and head of specialized banking. Robinson, who

September 9, 2024
Texas Capital to report 3Q loss following securities sales

Texas Capital to report 3Q loss following securities sales

Texas Capital Bancshares in Dallas continues to reshape its balance sheet. The $29.9 billion-asset company said in a press release that it bought a $400 million portfolio of committed exposure to the healthcare sector and sold $1.2 billion of securities at a $139 million after-tax loss. Texas Capital said it expects to report a net loss in the third quarter due to the securities sales. The proceeds from the securities

September 6, 2024