Kearny Financial in Fairfield, N.J., reported a quarterly loss after recording a $95.3 million goodwill impairment charge. The $7.7 billion-asset company said in a press release that it lost $90.1 million in the second quarter. Kearny said the impairment reflects the impact of the current interest rate environment on bank stock prices. “Goodwill impairment in no way affects our ongoing strategy or our ability to serve the banking needs of

ChoiceOne Financial Services in Sparta, Mich., has agreed to buy Fentura Financial in Fenton, Mich. The $2.6 billion-asset ChoiceOne said in a press release that it will pay $180.4 million in stock for the $1.8 billion-asset Fentura. ChoiceOne also announced that it will raise at least $30 million in a stock offering. The deal, which is expected to close in the first quarter, priced Fentura at 134.6% of its tangible

Eagle Bancorp in Bethesda, Md., recorded a large quarterly loss after taking a goodwill impairment charge. The $11.3 billion-asset company said in a press release that it lost $83.8 million in the second quarter. The $104.2 million impairment came after Eagle conducted its annual impairment test and reflected “current economic conditions.” Separately, the company said it had created an expatriate banking service division as part of a broader plan to

Time Bank in Park Ridge, Ill., has agreed to buy Northwest Investment Corp. in Davenport, Iowa. The $470 million-asset Time said in a press release that it expects to buy the parent of the $225 million-asset Northwest Bank & Trust in the fourth quarter. The price wasn’t disclosed. Northwest has three branches. Joe Slavens, Northwest’s president and CEO, will become a strategic adviser to Time Bank. Adam Pelzer, Northwest’s executive

CIB Marine Bancshares in Champaign, Ill., has completed a sale-leaseback transaction for three branches. The $889 million-asset company sold the Champaign locations to MountainSeed Real Estate Services for $6.5 million. CIBM Bank then agreed to lease the branches for an initial 15-year term with an option to renew for another 15 years. The lease terms were not disclosed. “This transaction was an opportunity for CIBM Bank to pursue important strategic

Fremont Bank in Fremont, Calif., will soon have a new president. The $5.9 billion-asset bank said in a press release that Don Marek will take on the role on Aug. 1. Marek will succeed Andy Mastorakis, who will remain CEO. Marek recently led the bank’s commercial lending group. "Don is an exceptional leader who embodies our culture and is committed to being accessible and evolving our relationship-based banking model," Mastorakis

First Guaranty Bancshares in Hammond, La., laid off about 15% of its employees and cut its dividend in half as it braces for slowing asset growth and aims to improve its capital position. The $3.6 billion-asset company said in a press release that it cut 71 positions. Each employee will receive 60 days of pay, payment for unused vacation time and healthcare coverage through Sept. 30. First Guaranty said the

The planned Fortuna Bank is targeting a fall opening after meeting its capital requirement. The proposed Grandview Heights, Ohio, de novo said in a LinkedIn post that it raised more than $20.7 million! “This incredible milestone reflects the unwavering support and confidence from our shareholders and community partners,” the organizers said in the post. “Our core processing system is under construction, ensuring we are well prepared to deliver top-notch service