Kentucky First Federal Bancorp in Hazard reported a quarterly loss that reflected a $947,000 goodwill impairment charge. The $375 million-asset company said in a press release that it lost $1.1 million in the quarter that ended June 30. It earned $42,000 a year earlier. The impairment charge reflected goodwill from the company’s March 2005 purchase of Frankfort First Bancorp. In recent months, the company has been operating under a formal

Carver Bancorp in New York has a new leader. The company said in a press release that Donald Felix will become president and CEO on Nov. 1. He will also join Carver's board. Felix, who was head of national banking and expansion at Citizens Financial Group, will succeed Craig MacKay, who has been interim president and CEO since October 2023. MacKay will remain on the board. "Don Felix has an outstanding

Financial Institutions in Warsaw, N.Y., is shutting down its Banking-as-a-Service platform. The $6.1 billion-asset holding company for Five Star Bank said in a press release that "the orderly wind down" followed a review by its management team and board as part of the annual strategic planning process. The decision also considered the contribution of BaaS to the company's core financial results, evolving regulatory expectations and a proposed rule tied to

Tom O’Brien has turned around and sold another bank. EverBank in Jacksonville, Fla., agreed to buy Sterling Bank and Trust in Southfield, Mich., in an all-stock deal valued at $261 million. The sale is expected to close in the first quarter. Sterling, as a condition of the deal, will sell its $373 million portfolio of residential tenant-in-common mortgage loans to Bayview Acquisitions. Trusts and family trusts that own about 38%

The Idaho Bankers Association has a new leader. The association announced on LinkedIn that Stacey Satterlee had become its president and CEO. Satterlee, who previously served as the executive director of the Idaho Grain Producers Association, succeeded Trent Wright, who left to become director of government relations at Umpqua Bank.

The Wisconsin Credit Union League has its next president and CEO lined up. The association said in a press release that Sarah Wainscott was selected to succeed Brett Thompson, who is retiring after leading the group for 23 years. Wainscott was the league’s senior vice president of advocacy. “Brett’s steadfast leadership has built a solid foundation of advocacy, collaboration and unity for Wisconsin’s credit unions and our members,” Christine Moczynski,

Organizers of a proposed community bank in California have received conditional approval from the Federal Deposit Insurance Corp. The proposed Altos Bank in Los Altos, which plans to focus on small businesses, must raise $25 million before opening. Tom Vertin is set to become the bank’s CEO. He was president and CEO of Golden State Bank. The FDIC has granted conditional approval to eight proposed banks in 2024. Four States

Primis Financial in McLean, Va., plans to restate more financial results to address accounting issues. The $3.9 billion-asset company disclosed in a regulatory filing that its financial statements for 2022 “should no longer be relied upon” due to errors in the methodology used to account for consumer loans originated and serviced through an unidentified third party. The bank funded the loans. Primis, which identified a “material weakness” in its internal