First Federal Bank of Kansas City in Lee’s Summit, Mo., formed a mutual holding company. The $960 million-asset mutual said in a press release that it created Cosperity Bancorp. First Federal is now a Missouri stock savings bank wholly owned by the MHC. "We have been innovators since our founding in 1934 and that spirit drives us still today," J.R. Buckner, the mutual’s president and CEO, said in the release. "We believe this

USAA Bank in San Antonio is looking for its next president. The $111 billion-asset bank said in a press release that Paul Vincent is stepping down on May 31. Vincent, who joined the bank in 2013, has been president since early 2021. USAA Bank will conduct a search for his successor. “I’m grateful for Paul’s leadership and his commitment to serving our mission, members and teammates,” Wayne Peacock, USAA’s president

Capitol Bank in Madison, Wis., has a new CEO lined up. The $590 million-asset company said in a press release that Justin Hart will become its leader on July 1. Hart, who is Capitol’s president, will succeed Ken Thompson, who will remain at the bank as executive chairman. Ami Myrland will succeed Hart as president. She will remain chief financial officer. " Our customers value relationship-focused leadership and consistency, so

Fulton Financial in Lancaster, Pa., is using proceeds from a sale-leaseback transaction to offset the costs of selling underwater securities. The $27.6 billion-asset company disclosed in a regulatory filing that it sold 40 branches in Delaware, Maryland, New Jersey and Pennsylvania to Blue Owl Capital for $55.4 million. Fulton will record a $20.4 million pretax gain – $15.6 million after-tax – tied to the transaction. Fulton then signed 15-year leases

The Office of the Comptroller of the Currency and the Federal Reserve will hold a virtual meeting on July 19 to let the public comment on Capital One Financial’s pending purchase of Discover Financial. Capital One agreed in February to buy Discover for $35.3 billion. The OCC and Fed also said that people who want to present at the meeting must register by June 28 through an online registration website.

Associated Banc-Corp in Green Bay, Wis., has agreed to a new three-year community commitment plan that pledges $2 billion of support to underserved groups in its markets. The $41 billion-asset company said in a press release that the agreement includes about $1 billion in residential mortgages and $9 million in down payment assistance. It also includes $377 million in small business loans and $600 million in community development loans and investments to

Alerus Financial in Grand Forks, N.D., has agreed to buy HMN Financial in Rochester, Minn. The $4.3 billion-asset Alerus said in a press release that it will pay $116.4 million in stock for the $1.2 billion-asset HMN. The deal, which is expected to close in the fourth quarter, priced HMN at 107% of its tangible book value. HMN has 12 branches in Minnesota and single branches in Iowa and Wisconsin.

Home BancShares in Conway, Ark., has shifted several executive roles. The $22.8 billion-asset company said in a press release that Kevin Hester had become its president. Hester, who was also named president of Centennial Bank, has been the company’s senior lender since its founding. Hester succeeded John Allison at the company level and Terry French at the bank. Home said that Stephen Tipton had become its bank’s CEO, succeeding French.