Associated Banc-Corp in Green Bay, Wis., has agreed to a new three-year community commitment plan that pledges $2 billion of support to underserved groups in its markets. The $41 billion-asset company said in a press release that the agreement includes about $1 billion in residential mortgages and $9 million in down payment assistance. It also includes $377 million in small business loans and $600 million in community development loans and investments to

Alerus Financial in Grand Forks, N.D., has agreed to buy HMN Financial in Rochester, Minn. The $4.3 billion-asset Alerus said in a press release that it will pay $116.4 million in stock for the $1.2 billion-asset HMN. The deal, which is expected to close in the fourth quarter, priced HMN at 107% of its tangible book value. HMN has 12 branches in Minnesota and single branches in Iowa and Wisconsin.

Home BancShares in Conway, Ark., has shifted several executive roles. The $22.8 billion-asset company said in a press release that Kevin Hester had become its president. Hester, who was also named president of Centennial Bank, has been the company’s senior lender since its founding. Hester succeeded John Allison at the company level and Terry French at the bank. Home said that Stephen Tipton had become its bank’s CEO, succeeding French.

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.