Spade, a fintech that leverages data and AI to improve how financial institutions use transaction data, raised $40 million in Series B funding. The fintech said in a press release that the round was led by Oak HC/FT with participation by Andreessen Horowitz, Flourish, Gradient, NAventures, National Bank of Canada’s corporate venture arm, and Y Combinator. Spade, founded in 2021, said it will use the new funding to add more

Organizers have submitted applications to open banks in Florida and Utah. A group in Coral Gables, Fla., applied to create Tidestone Bank. The application wasn't immediately available, but a public notice submitted in conjunction with the application lists eight founders: Fernando Monasterio, Ernesto Monasterio, Osvaldo Monasterio, Carlos Krutzfeldt, Louis Ferreira, Christopher Avila, Alba Prestamo and Ronald Gutierrez. The Monasterios and Krutzfeldt were part of a group that tried to buy

Profile Bank in Rochester, N.H., has a new leader. Kevin Miller posted on LinkedIn that he was named president and CEO of the $314 million-asset bank. "What an honor it is for me to lead such an accomplished group of banking professionals," Miller wrote. "I am so excited to see everything that our tremendous team will accomplish in the coming days, months and years!" Miller was chief operating officer and

Fifth Third Bancorp in Cincinnati will invest $3 million in Clearinghouse CDFI in Lake Forest, Calif. Clearinghouse CDFI said in a press release that proceeds from the Class A equity investment will help it make more loans for projects that could include multifamily affordable housing, commercial real estate, small businesses, and community facilities. The investment "represents a significant commitment and launches a strong community partnership," Douglas J. Bystry, Clearinghouse CDFI's

VersaBank in Canada has agreed to sell its branch in Holdingford, Minn., to Stearns Bank. The Office of the Comptroller of the Currency has already approved the sale. VersaBank obtained the bank when it bought Stearns Bank Holdingford in 2024. The sale is expected to close in the second quarter. The price wasn't disclosed. The branch has $101.7 million of deposits in mid-2025, based on data from the Federal Deposit

Eagle Bancorp in Bethesda, Md., is facing a board challenge from an activist investor. Diligence Capital Management said it plans to nominate three directors to run for seats at Eagle's upcoming annual meeting. Diligence was founded by James Abbott, who recently oversaw investor relations at Zions Bancorp. Diligence also wants the board to make swift governance and strategic changes and quickly complete its CEO succession process. Abbott wants the new

Zions Bancorp. in Salt Lake City agreed to buy the Fannie Mae and Freddie Mac lending business of Basis Multifamily Finance I. The $89 billion-asset Zions said in a press release that the deal includes an experienced team, access to agency lending programs, and all associated mortgage servicing rights. Zions and Basis entered into a strategic partnership that will expand each company's real estate financing and capital formation efforts. The

Heritage Financial in Olympia, Wash., disclosed that it detected a cybersecurity incident in early March involving an internal file share server used by employees. The company said in a regulatory filing that it detected "the exfiltration of files" from the share server that may contain personal data. The bank’s customer accounts, customer systems and operations were not impacted. Heritage Financial said it immediately initiated its security incident response plan and