Quaint Oak Bancorp in Southampton, Pa., has agreed to a sale-leaseback transaction with Mountainseed Real Estate Services. The $702 million-asset Quaint Oak said in a regulatory filing that it sold a property in Allentown, Pa., for about $2.9 million. The building serves as a branch and as the administrative offices for several of the Bank’s subsidiaries. The sale is expected to close this year. Quaint Oak agreed to lease the

Austin Bancorp in Jacksonville, Texas, has agreed to buy Chasewood Bank in Houston. The parent of the $2.8 billion-asset Austin Bank said in a press release that it expects to buy the $88 million-asset Chasewood in December. The price wasn't disclosed. Chasewood "will be able to continue banking in Houston while having local access to three additional offices in our southernmost region" Jeff Austin Jr., senior chairman at Austin Bank,

Casap, a startup created to help banks and fintechs combat first-party fraud, has raised $8.5 million in seed and pre-seed funding. Shanthi Shanmugam, the startup's CEO, said in a LinkedIn post that the funding was led by Lightspeed, Primary Venture Partners, Commerce Ventures, Curql and Alloy Labs. The proceeds will be used to scale the company's first AI-powered solution for banks, credit unions and fintechs. The product will provide real-time

An investor group aiming to disrupt the sale of Territorial Bancorp to Hope Bancorp in Los Angeles has shared more information with Territorial and lowered their tender offer threshold for buying the Honolulu company. The group, which included banking veteran Allen Landon and Blue Hill Advisors, said in a press release that it disclosed the identity of more of its investors with the $2.2 billion-asset Territorial's board. The group also

First Northwest Bancorp in Port Angeles, Wash., is no longer operating under an enforcement action. The company said in a press release that its bank had been freed from a November 2023 consent order from the Federal Deposit Insurance Corp. The order required the bank to address deficiencies in its compliance programs. The consent order requires the bank to correct certain violations of consumer protection laws. It claimed that First

The Canadian Digital Governance Council has become the second entity to apply with the Consumer Financial Protection Bureau to become a recognized standard-setting organization to facilitate data sharing under Section 1033 of the Dodd-Frank Act. The Financial Data Exchange submitted its application in September. The CFBP, which issued its open-banking rule earlier this week, has stated that implementing Section 1033 will “accelerate a shift toward open banking, where consumers would

First Northwest Bancorp in Port Angeles, Wash., is restating its second-quarter results after determining that it had another $6.6 million in chargeoffs during that period. The company disclosed in a regulatory filing that its quarterly results swung from a $1.8 million profit to a $2.2 million net loss due to the adjustment. The chargeoffs are tied to commercial construction loans, commercial business loans and the Splash unsecured consumer loan program.

Peoples Financial Services in Scranton, Pa., has accelerated its CEO succession plan. The $5.5 billion-asset company said in a press release that Craig Best will step down as CEO on Dec. 31. Gerard Champi, the company's president, will succeed Best. Thomas Tulaney will succeed Champi as president. Best had planned to step down on the first anniversary of Peoples' acquisition of FNCB Bancorp, which closed on July 1. Champi, who