Trustar Bank in Great Falls, Va., raised $16.7 million in fresh capital. The bank said in a press release that it planned to raise $15 million but the offering was 10% oversubscribed. Trustar was required to raise $55 million million when it opened in 2019; it raised another $18 million in July 2022. “We are incredibly grateful for the continued support from our investors," CEO Shaza Andersen said in the

Columbia Banking System in Tacoma, Wash., has agreed to pay $55 million to settle a nearly five-year-old lawsuit. The company disclosed in a regulatory filing that it entered into a court-ordered settlement for the lawsuit, filed in U.S. District Court in August 2020 by a group that claimed that a predecessor bank aided and abetted two commercial real estate borrowers that failed. A mistrial was declared on March 4 after

Touchmark Bancshares in Alpharetta, Ga., has a new CEO. The $449 million-asset company said in a press release that Bobby Krimmel had also become its president and joined its board. He succeeded J.J. Shah, who is retiring but will remain chairman. Krimmel recently served as chief financial officer at First Farmers and Merchants Corp. and as chief administrative officer of First Farmers and Merchants Bank. "We are excited to have

Mechanics Bancorp in Taunton, Mass., and MountainOne Financial in North Adams, Mass. have agreed to merge into a single mutual holding company. Mechanics, the MHC for Mechanics Cooperative Bank, and MountainOne, the MHC for MountainOne Bank, said their banks will continue to operate as separate entities with the same names, logos and brands. The new MHC will have nearly $1.9 billion in assets and 15 branches. Joseph Baptista Jr. will remain

First Guaranty Bancshares in Hammond, La., which has been dealing with credit issues and capital preservation, recruited a former bank CEO to join its board. The $4 billion-asset company disclosed in a regulatory filing that Bob Walker had become a director. He has not yet been added to any committees. Walker was president and CEO of Premier Financial Bancorp when it was sold to Peoples Bancorp in 2021. First Guaranty

Community National Bank and Trust in Chanute, Kan., has agreed to buy the parent company of Prairie Bank of Kansas in Stafford. The deal is expected to close in the third quarter. The price wasn't disclosed. Community National has $2.2 billion of assets. Prairie Bank has $128 million of assets.

Volunteer State Bank in Nashville, Tenn., has shortened its name. The $1.5 billion-asset bank said in a press release that it has rebranded as Volunteer Bank. The move reflects the bank's growth beyond middle Tennessee. “For nearly 50 years, we have built relationships rooted in trust, service, and local decision-making,” Tony Gregory, the bank's chairman, president and CEO, said in the release. “As we evolve ... we do so with

CSI, a provider of end-to-end financial software and technology, is preparing to have a new CEO. The Paducah, Ky., company said in a press release that David Culbertson is set to become its vice chair. While the company has its next CEO lined up, it said it would announce who it is at a later date. “CSI has been my home for 36 years," Culbertson, who became president in 2018 and