The Bank of New Glarus in Wisconsin has acquired First National Bank at Darlington in Wisconsin. The $492 million-asset Bank of New Glarus said in a press release that it bought the $194.2 million-asset First National on May 31. The price wasn’t disclosed. “We are extremely proud to have acquired First National Bank at Darlington,” Ron Schaaf, Bank of New Glarus’ president and CEO, said in the release. “There are

Bank of New York Mellon is embracing a shorter brand name. The $435 billion-asset company plans to rebrand as BNY, according to a memo obtained by Reuters. The move will include a new logo and signage. The company, which will retain its full name legally, had previously abbreviated its brand to BNY Mellon.

Provident Financial Services in Iselin, N.J., will close nearly 15% of its branches following its purchase of Lakeland Bancorp in Oak Ridge, N.J. The $24.5 billion-asset Provident, which bought Lakeland in May for $1.3 billion, disclosed on its website that it will close 22 locations on Aug. 29. The closures reflect “overlap” in the combined company’s footprint. “A careful and thorough review of our combined branch network was undertaken, and

The proposed Four States Bank in Carthage, Mo., has received conditional regulatory approval. Jeffrey Williams, the proposed bank’s president and CEO, disclosed the approvals in a LinkedIn post. He added that organizers are working towards opening branches in Carthage and Joplin, Mo., later this summer. The Federal Deposit Insurance Corp. said in its order that organizers must raise $23.5 million before the bank can open. The group applied in December

VersaBank in Ontario, Canada, has received Federal Reserve approval to buy Stearns Bank Holdingford in Minnesota. The $3.3 billion-asset VersaBank agreed to buy the $78 million-asset Stearns in June 2022. The deal would allow VersaBank to expand its receivable purchase program business.  “Applicants have conducted comprehensive due diligence and are devoting sufficient financial and other resources to address all aspects of the post-acquisition integration process for this proposal,” the Fed

Enterprise Bancorp in Lowell, Mass., has a new leader. The $4.6 billion-asset company said in a press release that Steven Larochelle had become its CEO. Larochelle, who had been chief banking officer, succeeded Jack Clancy, who retired. Clancy, who had been CEO since 2007, was named an honorary director and will serve as an executive advisor. Clancy “has been the backbone of the Enterprise family for 35 years and mere

Organizers of the proposed Fortuna Bank in Grandview Heights, Ohio, are close to opening. The group behind the effort said in a LinkedIn post that it will formally close the capital raise on June 30. Fortuna Bank received conditional approval from the Federal Deposit Insurance Corp. in February. The agency required organizers to raise $20 million. Ilaria Rawlins is set to become the bank’s president and CEO. The group applied

Torpago, a commercial credit card and spend management provider, raised $10 million in a Series B funding round. The San Mateo, Calif., company said in a press release that the round was co-led by Priority Tech Ventures and EJF Ventures, with participation from BankTech Ventures and others. The investment will help Torpago serve demand for its white-label, end-to-end commercial credit card and expense management software platform. The funds will allow