BCB Bancorp in Bayonne, N.J., reported a $14.8 million second-quarter loss. The $3.1 billion-asset company, which just hired turnaround expert Tom O'Brien as its CEO, said the loss reflected a $19 million loan-loss provision, a $5.3 million goodwill impairment, and a $2.6 million loss tied to a nonaccrual construction loan moved to held-for-sale. BCB said it is reviewing its loan portfolio with outside consultants, suspended common and preferred dividends, and

The Illinois Bankers Association has a new leader. The association said that David Boulay had become its president and CEO. Boulay was president of IMEC Illinois.

Chime plans to cut a tenth of its workforce, or roughly 150 people. The fintech is looking to capitalize on increased use of artificial intelligence to innovate and become more efficient. “The world is changing quickly and this means we need to keep evolving too,” CEO Chris Britt wrote in a company memo. “To continue to lead in the next era, we need to have the right structure, capabilities, and

Peoples Bancshares of TN in Madisonville, Tenn., has agreed to buy First Peoples Bancorp in Jefferson City, Tenn. Peoples Bancshares said in a press release that it will have $650 million of assets after it buys the parent of First Peoples Bank of Tennessee in a deal expected to close late this year or early 2027. The price wasn't disclosed. “We have long respected the relationships First Peoples Bank of

Coastal Financial in Everett, Wash., reported a quarterly loss and disclosed that it is no longer in talks to buy deposits and assets from Evolve Bank & Trust in West Memphis, Ark. The $5.5 billion-asset company said in a press release that it lost $42.1 million in the second quarter, largely reflecting a $68.8 million credit expense tied to a single fintech partner relationship. Otherwise positive results were “offset by

Linker Finance raised $5 million in its latest seed round. The company, which helps banks figure out digital banking, has raised a total of $8.7 million. "Since our initial investment, Linker has continued to execute. The company is now live with 10+ community banks across multiple core banking platforms, helping financial institutions launch modern digital experiences in as little as eight weeks, rather than the years these implementations have traditionally

Bank of America in Charlotte, N.C., agreed to buy U.K. information security specialist M D SecMDSec Consulting. The deal is expected to close in the fourth quarter. The price wasn't disclosed. M D SecMDSec provides deeply technical information security-related consultancy services. "We have long admired the exceptional ability of the M D SecMDSec team and are delighted that Bank of America and its clients will now further benefit from their work," Kris Fador,

Century Bank in Santa Fe, N.M., which is facing a hostile takeover, has replaced its CEO. The $1.4 billion-asset bank confirmed that Max Myers, its vice chairman, became interim president and CEO on July 24. He replaced John Brichetto. Bank7 in Oklahoma City said in early July that it had agreed to buy a 71% stake in Century for $68 million in cash. The shares are being sold by a court-appointed