First Keystone in Berwick, Pa., disclosed that it will record a $19.1 million goodwill impairment charge in the second quarter.   The $1.4 billion-asset company said in a press release that the noncash charge is tied to goodwill tied to a 2004 branch purchase and its 2007 acquisition of Pocono Community Bank.   A decrease in First Keystone’s stock price was a triggering event that led the company to test

First Guaranty Bancshares in Hammond, La., has a new CEO. The $3.6 billion-asset company said in a press release that Michael Mineer had also become its president. Mineer, who was Midwest area president, succeeded Alton Lewis, who retired. Lewis, who had led the company since 2009, will remain vice chairman. “I would like to thank Alton for his unwavering commitment and dedicated service for over three decades. He has built

The Federal Reserve Bank of Cleveland has selected its next CEO. The Cleveland Fed said in a press release that Beth Hammack will also become its president on Aug. 21. She will succeed Loretta Mester, whose tenure will conclude on June 30, consistent with the Fed’s mandatory age and length-of-service policies. Hammack “is the ideal leader to build on the great work already underway at the Cleveland Fed to promote

Citizens & Northern in Wellsboro, Pa., disclosed that its CEO plans to retire in 2027. The $2.5 billion-asset company said in a regulatory filing that J. Bradley Scovill intends to step down as president at that time. The company, in preparation for Scovill’s retirement, entered into a new employment agreement that is set to expire on April 30, 2027. The board also approved a special incentive award of 20,000 shares

PB Bankshares in Coatesville, Pa., disclosed that a real estate sale fell through. The $450 million-asset company disclosed in a press release that Ferfeldt Investments had terminated an agreement to buy vacant land next to a branch in New Holland, Pa. The investor had agreed to pay $950,000 for the property. “The agreement provided that the buyer could elect to terminate the agreement during the inspection period,” the filing said.

Gesa Credit Union in Richland, Wash., has agreed to buy Security State Bank in Centralia, Wash. The $5.5 billion-asset Gesa did not disclose the price it will pay for the $606 million-asset Security State. The deal is expected to close next year. Security State has 12 branches. “Gesa and Security State Bank have shared the same values for over 70 years, with an unwavering dedication to the communities we serve,”

The former CEO of Heartland Tri-State Bank pleaded guilty to embezzling funds that led to the Elkhart, Kan., bank’s failure. Shan Hanes had been accused of embezzling $47.1 million for personal cryptocurrency purchases, executing 10 wire transfers between May and July 2023. The bank was seized by regulators in July 2023 and sold to Dream First Bank. Hanes faces up to 30 years in prison; he is set to be

Numisma Bank in Greenwich, Conn., has received conditional approval for a Federal Reserve master account. Numisma, which focuses on banknote distribution, is a tier 3 institution that is state-chartered but isn’t backed by the Federal Deposit Insurance Corp. The approval gives the bank access to the Fed’s liquidity facilities. The Fed has rejected applications by other financial institutions, including Custodia Bank and The Narrow Bank, on the grounds that granting