First Mid Bancshares in Mattoon, Ill., will soon have a new CEO. The $9.3 billion-asset company said in a press release that Matthew Smith will succeed Joseph Dively on July 1. Smith will remain president; Dively will continue as chairman. “I am honored to step into this role and build on the foundation established under Joe’s leadership,” Smith said in the release. “First Mid’s priorities remain unchanged – serving our customers

Coastal Financial in Everett, Wash., quietly added de novo Erebor Bank to its roster of correspondent partners. Erebor, which opened in February after receiving speedy charter approval, is included in a slide in Coastal's latest earnings presentation. The slide didn't specify what types of services are being used. Erebor has been the subject of speculation and political inquiry, as the company touted its close connections to regulators, including OCC head

Coastal Financial in Everett, Wash., is exploring a potential expansion of its Banking-as-a-Service business through a deal with Evolve Bank & Trust in West Memphis, Ark. The $5.7 billion-asset Coastal disclosed in a regulatory filing that it entered into a nonbinding term sheet with Evolve covering a range of BaaS programs that Coastal may buy. They include related assets and deposits. Coastal said it plans to begin due diligence promptly

Digital finance platform OppFi has agreed to buy BNCCORP in Glendale, Ariz. The Chicago fintech said in a press release that it will pay $130 million in cash and stock for the parent of the $1.1 billion-asset BNC National Bank. The deal is expected to close in the fourth quarter. The acquisition "unlocks significant opportunities for growth and product diversification," Todd Schwartz, OppFi's chairman and CEO, said in the release.

Seacoast Banking Corp. of Florida in Stuart reported flat earnings after selling underperforming securities. The $20.8 billion-asset company said in a press release that profit rose nominally from a year earlier, to $31.9 million, after it absorbed a $39.5 million loss from selling securities in January. Seacoast sold about $277 million in low-yielding securities. Seacoast reinvested the funds into higher-yielding positions, resulting in a 24-basis-point yield improvement in the quarter.

Insurer Western & Southern Financial Group bought Till Financial, a fintech platform that helps parents guide their children's spending habits. Western & Southern did not disclose the price it paid for Till, which was founded in 2018. “Families today need more than products – they need practical, modern solutions that help build financial confidence in an increasingly digital world,” John Barrett, the insurer's chairman, president and CEO, said in a

Bastrop Bancshares in Bastrop, Texas, agreed to buy Columbus Bancorp in Columbus, Texas. Bastrop, the parent of the $1.1 billion-asset First National Bank of Bastrop, said in a press release that it will pay an undisclosed cash amount for the holding company of the $154.8 million-asset First State Bank. The deal is expected to close in the third quarter. "This merger reflects our commitment to building a community bank that

Onsetto, a Minneapolis fintech that helps financial institutions with business banking relationships, raised $9 million in a funding round led by Canapi Ventures. The fintech said in a release that other participants included EJF Ventures, Idea Fund of La Crosse, and The Perch Fund. “Business banking growth is not determined by accounts opened. It is determined by how quickly operating activity moves,” Cale Johnston, Onsetto's founder and CEO, said in