Hawaiian Electric Industries sold a 90.1% stake in American Savings Bank in Honolulu to a group of investors. The stake in the $9.3 billion-asset bank was sold for $405 million in cash. Hawaiian Electric said in a press release that it retained a 9.9% stake. The bank will continue to be led by its management team. “The sale allows HEI to enhance our focus on the utility as we work

Taylor Bank in Berlin, Md., has a new CEO. The $1 billion-asset bank said in a post on its website that Dean Lewis had also become its president. Lewis, who was the bank's chief financial officer, succeeded Ray Thompson, who had held both roles for the past 16 years. Lewis joined the bank in 2012. “Our bank's success during my time here is the result of the collective effort, dedication,

Community Bancorp in Derby, Vt., has a new CEO. The company said in a press release that Christopher Caldwell will also become its president on Jan. 1. Caldwell, who is a president of Community Bancorp's bank, will succeed Kathy Austin, who will remain on the board. Caldwell joined the company in 2021.

Atlanta Postal Credit Union and Affinity Bank in Covington, Ga., have called off their planned merger. The credit union agreed in May to buy the $870 million-asset bank unit of Affinity Bancshares for $22.50 a share in cash in a deal that was expected to close by the first quarter of 2025. The boards of both parties agreed to the terminate the deal after the credit union held discussions with

Zeal Credit Union in Livonia, Mich., has agreed to buy Gegebic Range Bank in Ironwood, Mich. The $839 million-asset Zeal said in a press release that it will pay an undisclosed amount of cash to West End Financial. The deal is expected to close in the third quarter. “Gogebic is a well-managed bank, and we look forward to welcoming their customers and employees into our family,” Zeal President and CEO Julie

First Carolina Financial Services in Rocky Mount, N.C., has raised $45.4 million. The $3.2 billion-asset company sold common stock through a private placement, according to data compiled by Performance Trust Capital Partners. The pricing, shares sold and investors were not disclosed. First Carolina agreed earlier this year to buy BM Technologies in Radnor, Pa., for $67 million in cash in a deal expected to close in the first quarter.

Skowhegan Savings Bank in Skowhegan, Maine, will soon have a new leader. Dan Tilton was named the $850 million-asset bank's president, succeeding David Cyr. He will also replace Cyr as CEO on Dec. 31. Tilton is the bank's executive vice president of sales and customer relations. Cyr, who joined the bank in 2005, has been president and CEO since 2019. “Skowhegan Savings’ strong legacy has been built on community focus,

First Keystone in Berwick, Pa., will enter 2025 with new leadership. The $1.4 billion-asset company disclosed in a regulatory filing that Elaine Woodland will retire as president and CEO on Jan. 31. She will remain on the board. The filing did not identify her successor, though it said the board "has been engaged in a succession planning process."