ELGA Credit Union in Grand Blanc, Mich., has agreed to buy Marine Bank & Trust in Vero Beach, Fla. The $1.5 billion-asset credit union said in a press release that it will pay $43.75 a share in cash for the $650 million-asset unit of Marine Bancorp of Florida. The deal is expected to close early next year. The acquisition "will foster those relationships with our members and the communities we

Seacoast Banking Corp. of Florida in Stuart added a banking veteran to its board. The $14.8 billion-asset company disclosed in a regulatory filing that Eddy Arriola became a director on June 4. He also joined the board of Seacoast National Bank. Arriola was a market executive at Seacoast after it bought Apollo Bancshares, where he was chairman and CEO.

German American Bancorp in Jasper, Ind., has sold its insurance business. The $6.1 billion-asset company said in a press release that it sold the assets of German American Insurance to Hilb Group for $40 million in cash. The after-tax gain was $27 million. The sale “ensures the continued access to the best insurance products and services for our customers and provides a great new home for GAI’s employees,” D. Neil

The Independent Community Bankers of America tapped an industry veteran to lead its payments services subsidiary. The ICBA said in a press release that Jacob Eisen had become president and CEO of ICBA Payments. Eisen previously served as president of fintech banking at MVB Bank. Eisen’s "extensive experience and forward-thinking approach align perfectly with our mission to empower community banks with cutting-edge payment solutions," Kevin Tweddle, senior executive vice president

Atlanta Postal Credit Union has agreed to buy Affinity Bank in Covington, Ga. The $2.5 billion-asset credit union said in a press release that it will pay $22.50 a share in cash for the $870 million-asset unit of Affinity Bancshares. The deal is expected to close in the fourth quarter or the first quarter of 2025. “For nearly 100 years, Affinity Bank has successfully served both small businesses and individuals

Merrick Bank in South Jordan, Utah, bought about $500 million of home improvement loan participations from GreenSky Holdings. CardWorks, the parent company for the $6 billion-asset Merrick, said in a press release that it also entered into a forward flow agreement with GreenSky to buy more loan participations. The financial details weren’t disclosed. The deal is tied to CardWorks’ equity investment in the point-of-sale lender, which Goldman Sachs divested in

First National Bank & Trust of Okmulgee has rebranded as Patrons Bank. The bank said in a press release that the change will take place on June 1. "With many financial institutions having similar names, we're rebranding to stand out and better reflect our commitment to the evolving needs of our customers and communities," President and CEO Jared Cable said in the release. "The rebranding doesn't change who we are or

Savings Bank of Danbury in Connecticut has rebranded. The $1.6 billion-asset bank said in a press release that will now use Ives Bank as its brand. The new name reflects the bank’s founding in 1849. The bank was first opened in the home of George W. Ives. “We have always valued the connection between our Bank and the Ives name,” Martin Morgado, the bank’s president and CEO, said in the