The Bank of North Dakota in Bismarck has a new CEO. The North Dakota Industrial Commission also named Don Morgan to serve as the $10.1 billion-asset bank’s president. Morgan succeeded Todd Steinwand, who recently retired. Morgan recently served as president and CEO at the $1.9 billion-asset Starion Bank. “Don’s impressive experience over his decades-long career in the banking industry and his deep understanding of the critical role BND’s community bank

Renasant in Tupelo, Miss., has sold its insurance agency to Sunstar Insurance Group. The $17.3 billion-asset company said in a press release that it sold Renasant Insurance; the price wasn’t disclosed. Renasant Insurance will rebrand as Sunstar Insurance Services. All of Renasant Insurance’s leadership and employees joined Sunstar. "This transaction provides a great opportunity for both our customers and employees to continue with Sunstar and build on the legacy of

First Foundation in Dallas is raising $228 million in a deal that will allow it to lower its concentration of multifamily loans.   The $13.6 billion-asset company said in a press release that the investors include Fortress Investment Group affiliates ($115 million); Canyon Partners ($46 million), Strategic Value Bank Partners and North Reef Capital ($22 million each). The transaction is expected to close on July 8.   Simone Lagomarsino, who

Bankwell Financial Group in New Canaan, Conn., is bracing for a $6.6 million hit tied to a nonperforming commercial loan. The $3.2 billion-asset company disclosed in a regulatory filing that it will take specific reserves against a $8.7 million C&I loan that has been classified as nonperforming since the end of last year. Bankwell, which had already reserved $400,000 for the loan, said it has about $1.7 million in remaining

New York Community Bancorp in Hicksville is planning a reverse stock split. The $113 billion-asset company said in a press release that the one-for-three reverse stock split should take place on July 11. The number of authorized shares of the company’s common stock will decrease from 2 billion shares to about 666.7 million shares. Shareholders who would be left with fractional shares will be entitled to a cash payment in

Silvergate Capital in La Jolla, Calif., and its bank will pay $63 million in penalties to settle claims it misled shareholders about the strength of its Bank Secrecy Act and anti-money laundering compliance. Silvergate was fined by the Federal Reserve and the California Department of Financial Protection and Innovation. Separately, the Securities and Exchange Commission reached settlements with former Silvergate CEO Allan Lane, who agreed to pay a $1 million

Amerant Bancorp in Coral Gables, Fla., shared more information on the pending sale of its Houston operations. The $9.8 billion-asset company agreed in April to sell five branches, $576 million of deposits and $529 million of loans to MidFirst Bank in Oklahoma City in a deal expected to close by the end of this year. Amerant disclosed in a regulatory filing that it expects to sell the operations at a

Southern Bankshares in Claxton, Ga., which was sold to an investor group last year, raised $19.1 million through a private placement. The $170 million-asset company sold common stock on June 27, according to data compiled by Performance Trust Capital Partners. The data did not include the number of shares sold, pricing, or the investors. An investor group from Jacksonville, Fla., bought the company in November and hired Scott Verlander, formerly