U & I Financial in Lynwood, Wash., is operating under a written agreement with the Federal Reserve. The Fed disclosed the enforcement action with UniBank earlier this week. The agreement requires the bank to review and amend policies and practices tied to consumer compliance, lending administration and risk management, loan grading and review, credit loss allowances and conflicts of interest. U & I Financial earlier this year restated its fourth-quarter

First Carolina Bank in Rocky Mount, N.C., has agreed to buy BM Technologies in Radnor, Pa. The $3.2 billion-asset bank said in a press release that it will pay $67 million in cash for the fintech in a deal expected to close in the first quarter. The sale is a reversal of fortune for BM Technologies, which agreed to buy First Sound Bank in Seattle in 2021 in a deal

Griggsville Bancshares in Griggsville, Ill., has agreed to buy Scott Morgan Bancorp in Bluffs, Ill. The holding company for the $138 million-asset Farmers National Bank of Griggsville said in a press release that it expects to acquire the parent of the $59 million-asset Bank of Bluffs in the second quarter. The price wasn't disclosed. "Bank of Bluffs shares our core community philosophy: empowered local management and employees dedicated to serving

CVB Financial in Ontario, Calif., reported lower quarterly profit after selling some underwater securities. The $15.4 billion-asset company said in a press release that its third-quarter profit fell by 12% from a year earlier, to $51.2 million. CVB sold $312 million of securities at an $11.6 million loss during the quarter. The company offset some of that hit through the sale-leaseback of two banking centers for a pretax gain of

EverBank in Jacksonville, Fla., has agreed to buy the life premium finance division of Primis Bank in McLean, Va. The $4 billion-asset Primis said in a press release that the $39.4 billion-asset EverBank will pay a $6 million premium for the business, adding that it expects to record a $4.5 million pretax gain in the fourth quarter. Final closing is set for Jan. 31. The deal includes about $370 million

Heritage Financial in Olympia, Wash., reported lower quarterly earnings after selling underwater securities and charging off a loan. The $7.2 billion-asset company said in a press release that its third-quarter profit fell by 37% from a year earlier, to $11.4 million. Heritage Financial sold $78 million of investment securities at a $6.9 million pretax loss. Proceeds were used to fund higher-yielding loans. The company also had a chargeoff tied to

MidWestOne Financial Group in Iowa City posted a big quarterly loss after repositioning its balance sheet. The $6.6 billion-asset company lost $95.7 million in the third quarter after selling $1 billion of debt securities. MidWestOne used the proceeds to buy $590 million of higher-yielding debt securities; the earnback period will be between four and five years. MidWestOne also said its financial results included a $1.2 million fraud loss tied to

Midland States Bancorp in Effingham, Ill., is scaling back in equipment finance and some consumer lending segments. The $7.8 billion-asset company said in a press release that total loans in the third quarter fell by 1.8% from a quarter earlier, to $5.7 billion.  Equipment finance balances declined by $30 million as the company reduces its dealings in that segment. Consumer loans fell by $83 million after Midland States stopped originating