In a stunning move, the White House dismissed Todd Harper and Tanya Otsuka from the National Credit Union Administration board, abruptly ending their tenures and throwing the agency’s regulatory direction into limbo. The decision leaves the NCUA without a quorum, effectively halting its ability to issue new rules or take formal board action. Harper, a Democrat and former NCUA chairman, blasted the decision in a sharply worded statement. “The decision

The Community Bankers Association of Georgia will invest in the latest fund from BankTech Ventures. The association said in a press release that its board approved an investment in BankTech Ventures’ Fund 2. The investment was made possible by a special purpose vehicle formed by the Community Bankers Association of Illinois that lets Georgia community banks invest as little as $50,000 in the fund. The amount of the association's investment

AmeriServ Financial has struck a deal with one of its largest shareholders, SB Value Partners, to help grow and streamline the Johnstown, Pa., company’s wealth management division. As part of a four-year agreement, SB Value Partners — which owns about 8.2% of AmeriServ’s stock — will provide advice on how the banking company can improve operations and increase assets under management in its wealth business. In return, SB Value could

Marion and Polk Schools Credit Union in Salem, Ore., has agreed to buy Lewis & Clark Bank in Oregon City. The $1.4 billion-asset Maps Credit Union did not disclose the price it will pay for the $342 million-asset Lewis & Clark. The deal is expected to close around the first quarter of 2026. Lewis & Clark is the fourth bank to agree to sell to a credit union this year.

Franklin Financial Services in Chambersburg, Pa., will soon have a new leader. The $2.2. billion-asset company disclosed in a regulatory filing that Craig Best will become its CEO after its April 29 annual meeting. Best, Frankin Financial's president, will succeed Timothy Henry, who will retire on May 2.

Georgia Banking Co. in Atlanta and First Bancshares in Mountain Grove, Mo., raised capital by selling common stock. Georgia Banking, which recently bought Primary Bancshares, raised about $1.5 million through a private placement. according to data compiled by Performance Trust Capital Partners. First Bancshares, meanwhile, brought in $2 million in capital from its private placement. Performance Trust did not list the pricing, shares sold, or investors.

Oak View Bankshares in Warrenton, Va., raised nearly $8 million from a private placement. The company said in a press release that it sold nearly 560,000 shares of common stock at $14 each. The proceeds will be used for general corporate purposes. "We are pleased to announce the successful completion of the private placement," Michael Ewing, the company's chairman and CEO, said in the release. "This offering positions us for future

The Federal Deposit Insurance Corp. has approved its first new bank in 2025. The agency gave conditional approval to organizers of the proposed Houston Bank and Trust. The group must raise at least $35 million before opening the bank. The group first applied with the FDIC in February 2022 to form Houston Bank of Commerce & Trust, reapplying in May 2023. In March 2024, the group shortened the proposed de