New York Community Bancorp in Hicksville agreed to sell about $5 billion of mortgage warehouse loans to JPMorgan Chase in New York. The $113 billion-asset New York Community said in a press release that the sale should close in the third quarter. It should add 65 basis points to the CET1 capital ratio, to 10.8%. The proceeds will be reinvested into cash and securities.  The bank's loan-to-deposit ratio should fall

Kabbage, a small-business lender going through bankruptcy, agreed to pay up to $120 million to settle claims it committed Paycheck Protection Program fraud. KServicing Wind Down, through a pair of settlements, addressed claims by the Justice Department that it “knowingly submitted thousands of false claims for loan forgiveness, loan guarantees and processing fees to the U.S. Small Business Administration.” Under the first settlement, KServicing will provide the government with a

International Finance Bank in Miami has a new CEO. The $1 billion-asset bank said in a press release that Abel Iglesias also became its president on May 14. Iglesias was president and CEO of Professional Bank when it was sold to Seacoast Banking Corp. Iglesias served as Miami-Dade market executive at Seacoast following Professional’s sale.

Provident Financial Services in Jersey City, N.J., issued subordinated debt to comply with a regulatory prerequisite for its pending purchase of Lakeland Bancorp in Oak Ridge, N.J. The $14.1 billion-asset Provident disclosed in a regulatory filing that it issued $225 million of sub debt. Provident, which agreed in September 2022 to buy the $11 billion-asset Lakeland for $1.3 billion, said it expects to complete the acquisition on May 15. The

First Capital Bancshares in Charleston, S.C., has raised $12 million through a private placement of common stock. The $811 million-asset company completed the offering on May 9, according to data compiled by Performance Trust Capital Partners. The report did not detail how many shares where sold, the pricing, or the investors.

Crossbridge Community Bank in Tomahawk, Wis., has a new president. The $204 million-asset bank said in a press release that PJ Childers had succeeded Kathy Rankin, who retired. She also became president of Crossbridge Mutual Holding Co. and Crossbridge Financial. Childers, who had been the bank’s senior vice president of commercial lending, is now responsible for overseeing operations and strategic planning. Childers “has always had a clear and distinct vision

Popular in San Juan, Puerto Rico, has a new president. The $71 billion-asset company said in a press release that Javier Ferrer will remain chief operating officer. He succeeded Ignacio Alvarez, who will remain CEO. Ferrer "has excelled in each position he has held, embracing growing responsibilities, contributing to the definition and implementation of [Popular's] strategic initiatives and demonstrating exemplary leadership,” Alvarez said in the release.

Peoples National Bancshares in New Lexington, Ohio, has agreed to buy Pataskala Banking in Ohio. The $220 million-asset Peoples National said in a press release that it expects to buy the $39.9 million-asset Pataskala in the fourth quarter. The price wasn’t disclosed. Pataskala has two branches, $23.1 million in loans and $37.5 million of deposits. “Pataskala, its board … and its staff have a great reputation in their local markets,