United Community Banks in Greenville, S.C., sold most of its manufactured housing portfolio. The $27.1 billion-asset company said in press release that it sold a $318.2 million of loans to 21st Mortgage, a division of Clayton Homes. Including a roughly $11.5 million release of a reserve tied to the loans, transaction costs and other accounting influences, United estimated that the sale will impact third-quarter results by 18 cents a share. The

Arrha Credit Union in Springfield, Mass., has applied to merge into Pittsfield Cooperative Bank in Pittsfield, Mass. The National Credit Union Administration told multiple news outlets that it is reviewing an application for the proposed merger. “While we are unable to comment on specific bank transactions, we are always pleased to see FDIC-insured banking institutions in Massachusetts grow,” Kathleen Murphy, the president and CEO of the Massachusetts Bakers Association, told

Gallatin Point Capital bought a roughly 15% stake in Israel Discount Bank in New York. Gallatin paid about $150 million for the stake in the $12 billion-asset bank. Davis Polk advised on the transaction. Israel Discount Bank has offices in New York, Florida and California.

Mutual Federal Bancorp and Pulaski Savings Bank are planning to merge. The $99.8 million-asset Mutual Federal expects to absorb the $50.7 million-asset Pulaski Savings in the first quarter. Both are based in Chicago. "This transaction brings together two customer-centric and highly-respected institutions," Stephen Oksas, Mutual Federal’s president, said in a press release. "Mutual Federal and Pulaski have a similar culture and take pride in our long traditions of outstanding customer service and

Fulton Financial in Lancaster, Pa., plans to lay off 111 people in conjunction with recently announced branch closings. The $31.8 billion-asset company disclosed the layoffs in a WARN notice filed earlier this month. The cuts will occur in November and December. Fulton disclosed in July that it planned to close 13 branches in New Jersey and Pennsylvania, adding that it expected to incur about $10 million of pretax costs in the

Georgia Heritage Federal Credit Union in Savannah has a new leader. The $149 million-asset credit union said in a press release that it hired Matt Selke as its president and CEO. Selke, who was CEO of Pinnacle Credit Union in Atlanta, will succeed Dale Taratuta, who is retiring at the end of this month. Georgia Heritage has four branches and more than 15,000 members. It merged with G.P.A. Credit Union

Pathward Financial in Sioux Falls, S.D., has agreed to sell its commercial insurance premium finance business to AFS IBEX Financial Services. The $7.5 billion-asset Pathward said in a press release said that AFS, a unit of Honor Capital Holdings, will pay a $31.2 million premium on top of the net asset value of the assets, which was $617.1 million on June 30. The deal is expected to close by the

Bridgewater Bancshares in St. Louis Park, Minn., has agreed to buy First Minnetonka City Bank in Minnetonka, Minn. The $3.7 billion-asset Bridgewater said in a press release that it will pay cash for the $242 million-asset First Minnetonka City Bank. The deal is expected to close in the fourth quarter. First Minnetonka City Bank has two branches, $212 million of deposits and $128 million of loans. “We are very pleased