Dime Community Bancshares in Hauppauge, N.Y., which recently raised capital, repositioned its securities portfolio and began winding down its pension program. The company said in a press release that it sold $379 million of debt securities, using the proceeds to buy $379 million of higher-yielding debt securities. Dime expects to recognize a $43 million pretax loss from the sale. Dime also said it has started distributing payments to eligible participants

Farmers and Merchants Bank in Boswell, Ind., will soon have a new president. The $200 million-asset bank said in a press release that Donald Blume will succeed Grant Whaley on Jan. 1. Whaley will remain chairman and CEO. Blume is an executive vice president at the bank and a director at parent Farmers and Merchants Bancorp. “I know Donald will be a great leader for our bank and help us

The Consumer Financial Protection Bureau is exempting smaller banks from a final rule capping overdraft fees. The CFPB's final rule required banks with more than $10 billion of assets to either cap fees at $5, determine a fee that covers costs and losses, or disclose the terms of overdrafts like they would other loans. "For financial institutions that wish to profit from overdraft lending, they may do so by complying

Solutions Plus Bank, a de novo proposed for Albertville, Ala., has secured conditional approval from the Federal Deposit Insurance Corp. The proposed bank’s organizers applied with the FDIC  in August. The agency required organizers to raise $27 million before the bank can open. There are 13 organizers: John Weathers, Myra Pierce, Thomas Carroll, Susan Armstrong, Tony Cochran, Jeannie Courington, Randy Jones, Wright Ross, Steven Brindley, Shannon Corbitt, Anna Weathers Smith, Clay

Coastal Financial in Everett, Wash., and Financial Institutions in Warsaw, N.Y., are raising capital by selling common stock. The $4.1 billion-asset Coastal said in a press release that it is selling 1.2 million shares of stock at $71 each. It could sell another 180,000 shares if there is enough demand. Gross proceeds from the offering could range from $85.2 million to $98 million. Net proceeds could be used to support

Valley National Bancorp in New York announces that its president plans to retire next year. The $62 billion-asset company said in a press release that Thomas Iadanza will step down on June 30. He joined the bank through its 2012 purchase of State Bancorp, where he was chief lending officer. "Tom’s dedication to our customers, employees, and stakeholders has contributed meaningfully to our successful evolution," Ira Robbins, Valley's chairman and

First State Bank Southwest in Worthington, Minn., announced its CEO's retirement. Greg Raymo, who will remain a bank director, had worked at the $400 million-asset bank since 1997. “Greg has been a mentor to so many and has served on several boards and committees that work tirelessly in support of the community banking industry in our state and at the national level,” the bank said in a statement.

Sallie Krawcheck is stepping down as CEO of Ellevest to address a health problem. Krawcheck, a banking veteran who had key leadership roles at Citigroup and Merrill Lynch, wrote in a note that she will remain on the asset manager's board. Sylvia Kwan, Ellevest's chief investment officer, and Connie Hsiung, the chief financial officer and chief operating officer, were named co-CEOs. "While I pass the torch to the next generation