Rio Financial Services in McAllen, Texas, has applied to acquire Lone Star Capital Bank in San Antonio. The application was filed with the Federal Deposit Insurance Corp. on March 12. The parent of the $941 million-asset Rio Bank agreed in late February to buy the $300 million asset Lone Star. The price wasn't disclosed. Lone Star "has offices in ... markets we have not been servicing in the past but we

MetroCity Bankshares in Doraville, Ga., has agreed to buy First IC Corp. in Doraville. The $2.9 billion-asset MetroCity said in a press release that it will pay $206 million in cash and stock for the $1.2 billion-asset First IC. The deal, which is expected to close in the fourth quarter, priced First IC at 146% of its tangible book value. First IC has 10 branches, two loan-production offices, $975 million

OnePay, a fintech that is majority-owned by Walmart, is breaking ties with Affirm Holdings to work with Klarna Group on installment financing products. Affirm confirmed the move in a regulatory filing, noting that the switch will take place later this year. Affirm has been offering pay-over-time products to Walmart's customers. Over a six-month period that ended on Dec. 31, purchases made through the integrated program with Walmart represented about 5%

OakNorth, a U.K.-based digital bank, has agreed to buy Community Unity Bank in Birmingham, Mich. OakNorth, which received approval in August from the Federal Reserve and the New York State Department of Financial Services to open a representative Office in New York, plans to leverage the bank acquisition to expand business lending across the United States. "Over the last 18 months, we've supported businesses with their growth ambitions, providing several

OneMain Financial is the latest company to apply for an industrial loan charter. The company said in a press release that it applied with the Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions to form OneMain Bank in West Valley City, Utah. The bank would offer personal loans, auto finance, credit cards and savings accounts. “OneMain Financial has provided responsible lending solutions to a large and often underserved

TD Bank plans to close 38 locations. The bank applied with the Office of the Comptroller of the Currency to close the branches. The planned closures include six branches in Massachusetts, four in both Maine and New Hampshire, and two in Connecticut, according to published reports. "As we evaluate how customers interact with us and the channels they use, this includes examining our physical store network and looking for opportunities

GBank Financial Holdings in Las Vegas plans to apply for a Nasdaq listing. The $1.1 billion-asset company said in a regulatory filing that it plans to list shares under the symbol GBFH. The filing involves the roughly 1.1 million shares GBank Financial sold in an October 2024 private placement. Many of those shareholders are individual investors or related trusts. Down Range Capital Opportunity Fund plans to sell all of its

Block received approval from the Federal Deposit Insurance Corp. to directly offer small consumer loans to Cash App customers. The fintech said in a press release that Square Financial Services will start offering and servicing Cash App Borrow in the coming weeks. Block, which has been making the loans through an external bank partner, said the average loan has been less than $100 with about a month in duration. It originated