Firstbanc of Alabama in Talladega has agreed to a sale-leaseback transaction with MountainSeed Real Estate Services. The parent of the $1 billion-asset First Bank of Alabama will sell four branches for about $7.8 million. The bank will lease the offices for an initial 15-year term with the option to extend the lease for another 15 years. The rates were not disclosed. “MountainSeed has been a great partner to the bank

Currency Bank in Oak Grove, La., has a new president and CEO. Scott Gaudin announced on his LinkedIn page that he had also become president and CEO of Axxess Partners, the holding company for the $186 million-asset bank. Gaudin, who was chief lending officer, succeeded Charles Chiasson.

VersaBank named a president for its new U.S. bank. The Canadian bank said in a press release that Tel Matrundola will take on the role at the newly created VersaBank USA. Matrundola was chief strategy officer at PWC Capital, VersaBank’s former parent company. Shawn Clarke was named chief operating officer of VersaBank USA; he was CFO at the Canadian bank. Tim Bloom will serve as chief risk officer at the U.S.

Country Bank for Savings in Ware, Mass., will have a new CEO. The $1.9 billion-asset bank said in a press release that Mary McGovern will take over the role on Aug. 1. McGovern, who was named president earlier this year, will succeed Paul Scully, who is retiring. She has also been the bank’s chief operating officer. Scully has served as CEO for the past 19 years.

TD Bank has agreed to a three-year, $20 billion community impact plan. The bank said in a press release that it had formed an 11-member community advisory board in conjunction with the plan. The board includes members from groups such as Asian Pacific Community Development, National Association for Latino Community Asset Builders and the Urban Institute. The plan “reinforces TD’s commitment to financial inclusion, sustainable growth and social progress in

Citigroup will pay a total of $136 million for not moving quickly enough to address four-year-old consent orders that require the New York company to address its internal control systems and compliance risk management. The Office of the Comptroller of the Currency and the Federal Reserve said that the $2.4 trillion-asset company hasn’t made enough progress tackling violations in their October 2020 consent orders. The OCC said that Citigroup had

The Mission Driven Bank Fund has completed its second close after raising $65 million. The Cleveland fund, which invests in minority depository institutions (MDIs) and community development financial institutions (CDFIs), has raised more than $177 million since its formation. The fund’s limited partners include Lake City Bank, Enterprise Bank & Trust, Hancock Whitney Bank and Banner Bank. The investment "aligns with our mission, purpose and core values and supports working

A de novo bank planned in Miami has received approval from its state regulator. Florida’s Office of Financial Regulation has signed off on BankMiami, Mary Usategui, the proposed bank’s CEO, disclosed on her LinkedIn account. Organizers, who submitted applications earlier this year, still need approval from the Federal Deposit Insurance Corp. “We continue to welcome strategic investors who will share our pride in creating a new bank that reflects the