Lake Shore Bancorp in Dunkirk, N.Y., has been freed from another regulatory order. The $698 million-asset company disclosed in a regulatory filing that the Fed terminated a June 2023 written agreement. The Office of the Comptroller of the Currency freed Lake Shore's bank from a consent order in December. Lake Shore has now begun the process of pursuing a second-step conversion to become a fully stock-owned company.

NuMark Credit Union in Joliet, Ill., has agreed to acquire The Lemont National Bank in Lemont, Ill. The $851 million-asset NuMark did not disclose the amount of the all-cash transaction. The credit union expects to buy the $52 million-asset Lemont National in the second half of this year. “It is clear to us that our organizations share a common vision in that we are both invested in the importance of

Bar Harbor Bankshares in Bar Harbor, Maine, has agreed to buy Guaranty Bancorp in Woodsville, N.H. The $4.1 billion-asset Bar Harbor said in a press release that it will pay $41.6 million in stock for the $675 million-asset Guaranty. The deal, which is expected to close in the second half of this year, priced Guaranty at 130% of its tangible book value. Guaranty, the parent of Woodsville Guaranty Savings Bank, has

Financial Institutions in Warsaw, N.Y. has settled civil litigation tied to its bank’s auto loan notification process. The $6.1 billion-asset company said in a press release that it agreed to make a $29.5 million cash payment to class members, release the debt owed to the bank, and remove adverse credit reporting for class members. The settlement is subject to court approval. As a result, the company recorded a $23 million litigation

American Express has agreed to buy expense-management software company Center. American Express did not disclose the price it would pay. The goal is to use Center to support the services Amex offers small businesses. Center helps companies better manage their finances by showing in real-time how much employees are spending.

Green Dot in Provo, Utah, has hired an investment bank to help it explore strategic alternatives—often a prelude to selling. The fintech, which operates Green Dot Bank, said in a press release that it had shaken up its management with the departure of George Gresham as president and CEO. William Jacobs, the company's chairman and interim CEO from January to March 2020, was named interim CEO. Chris Ruppel, Green Dot’s chief revenue

Independence Bank in East Greenwich, R.I., plans to liquidate under a plan approved by the Federal Deposit Insurance Corp. The FDIC, which had accused Independent of charging illegal fees tied to Small Business Administration 7(a) loans, announced the liquidation in a Jan. 14 consent order with the bank. Independence was also required to pay affected consumers $3.4 million of restitution. The FDIC had claimed that the bank's actions had caused

The Maryland Bankers Association has a new leader. The association said in a press release that Tisha S. Edwards had become its president and CEO. She will also serve as executive vice president of the Mid-Atlantic Bankers Association, the holding company formed last year when the MBA merged with the Virginia Bankers Association. Edwards was Secretary of Appointments in Gov. Wes Moore’s administration. Edwards "brings a wealth of leadership experience