Lumin Digital, a cloud-native digital banking provider in San Ramon, Calif., raised more than $160 million in equity financing. Lumin Digital said in a press release that the financing was led by Light Street Capital, NewView Capital and Partners Group. Lumin Digital said it will use the funds to accelerate its strategic growth initiatives. “This is a powerful endorsement of Lumin Digital’s impact on the industry and enables us to

Fleur Capital has agreed to buy Simmesport State Bank in Simmesport, La. Fleur, led by Spirit of Texas Bank President David McGuire, said in a press release that it hopes to buy the $231.5 million-asset Simmesport State Bank in the second quarter. The price “We highly value the Simmesport State Bank employees and believe they will be well-served as part of this proposed transaction," McGuire said in the release. "We

Shareholders of IF Bancorp backed a nonbinding proposal calling for the sale of the Watseka, Ill., company. The $893 million-asset company disclosed in a regulatory filing that more than 1.4 million shares voted in favor of the proposal at its annual meeting, while 969,000 shares objected. About 55,000 shares abstained. Separately, the company said that Walter Hasselbring, III, its president and CEO, was named chairman. He succeeded Gary Martin, who

Horizon Bancorp in Michigan City, Ind., disclosed that a plan to sell its mortgage warehouse business has fallen through. The $7.9 billion-asset company signed a nonbinding letter of intent in October to sell the business to an unidentified buyer. The plan was disclosed when Horizon reported its third-quarter results. The sale was expected to generate a gain-on-sale but would have been neutral to net income. It was not expected to

Old National Bancorp in Evansville, Ind., has agreed to buy Bremer Financial in St. Paul, Minn. The $54 billion-asset Old National said in a press release that it will pay $1.4 billion in cash and stock for the $16.2 billion-asset Bremer. The deal, which is expected to close in the middle of 2025, priced Bremer at 100% of its tangible book value. Old National plans to raise $400 million in

Island Federal Credit Union in Hauppauge, N.Y., has added some permanency to its leadership. The credit union said in a press release that Craig Booth had become its president and CEO. Booth, who had been interim president and CEO, was the credit union's chief operating officer. Booth “brings a wealth of experience, leadership, and dedication to his new role,” John Adragna, the credit union's chairman, said in the release. "His

Scott Kavanaugh is retiring as CEO of First Foundation in Dallas. The $13.6 billion-asset company said in a press release that Thomas Shafer had become its CEO and had also succeeded Kavanaugh as the CEO of First Foundation Bank.  Shafer also joined the company's board. Shafer was CEO of TCF National Bank and vice chairman of TCF Financial when it was sold to Huntington Bancshare in June 2021. He retired

Union Bankshares in Morrisville, Vt., has implemented a 20-year term limit for its directors. The $1.5 billion-asset company disclosed in a regulatory filing that its board changed its bylaws to add the term limit. Union already has a mandatory retirement age of 72 years. The amendment took effect on Nov. 20. The board also granted exemptions to two directors who would otherwise surpass the 20-year limit prior to turning 72.