First Foundation in Dallas has begun the process of purging multifamily loans from its balance sheet. The $13.6 billion-asset company said in a press release that it reclassified about $1.9 million of loans from held to maturity to held for sale. The company said it expects fair-value pricing for the loans to surpass 92% based on recent pricing for Southern California-focused multifamily loans and "renewed optimism for lower rates." The

AmeriNational Community Services in Albert Lea, Minn., received Federal Reserve approval to form a bank holding company so it can buy Northwest Bancorp. of Illinois in Palatine. AmeriNational, an economic development and affordable housing loan servicer, applied with the Fed late last year as part of its plan to buy the parent of the $215 million-asset First Bank and Trust Co. of Illinois. "AmeriNat has operated in a complex and

Abri Credit Union in Romeoville, Ill., has a new CEO. The $400 million-asset Abri said in a press release that Colleen Brooks had also become its president. Brooks, who was the credit union's senior vice president of administration, succeeded Brian Cedergren, who retired. "I am profoundly grateful to our board ... for their confidence as well as my family and friends for their unwavering support," Brooks wrote in a LinkedIn

Zions Bancorp. in Salt Lake City has agreed to buy four California branches from FirstBank in Lakewood, Colo. Zions' subsidiary California Bank & Trust will also gain about $730 million in deposits and $420 million in loans from the branches, which are located in the Coachella Valley. The transaction is expected to close in the first quarter; the price wasn't disclosed. "This transaction provides us a team of accomplished banking

JD Bancshares in Jennings, La., has a president. The $1.2 billion-asset company said in a press release that Paul Brummett II had also become CEO of JD Bank. He also joined the boards of the company and the bank. Brummet, who has been chief financial officer, succeeded Bruce Elder, who has led the company since 2019. Separately, Jimmy LeBlanc was named the bank's president and chief banking officer. He has

SVB Financial Group in Santa Clara, Calif., sold its investment platform business. The former holding company to Silicon Valley Bank, which failed last year, said in a press release that it sold SVB Capital to affiliates of Pinegrove Capital Partners, backed by evergreen capital from Brookfield Asset Management and Sequoia Heritage. The consideration included cash and other economic interests. MoffettNathanson, a sell-side research business owned by SVB Financial, was not

CNB Community Bancorp in Hillsdale, Mich., will buy 145,000 shares of its common stock after completing a tender offer. The $1.2 billion-asset company said in a press release that it paid about $5.6 million, or $38.50 a share, for the tendered shares. The stock represented about 6.5% of the company's shares outstanding. Overall, shareholders were willing to tender about 188,000 shares.

Interstate Bank in Perryton, Texas, has a new leader. The $264 million-asset bank said in a press release that Blair Berg had become its chairman and CEO. Berg, who was the bank's chief financial officer, succeeded Danny Skarda, who retired. Skarda had been CEO since 1981.