PBT Bancshares in McPherson, Kan., has applied to acquire Kanza Financial in Kingman, Kan. PBT, the parent of the $1.2 million-asset Peoples Bank and Trust recently agreed to buy the holding company for the $270 million-asset Kanza Bank in a deal expected to close in the second quarter. The price wasn't disclosed. “We are excited by the opportunity to build upon our long-standing relationship with Kanza Bank through the merger

Associated Banc-Corp in Green Bay, Wis., is raising up to $345 million that could be used to fine-tune its balance sheet. The $42.2 billion-asset company said it could sell up to 13.8 million shares of common stock if there is sufficient demand. Shares were priced at $25 each. Associated said that proceeds would used to support organic growth, including potential balance-sheet optimization strategies. "On the surface, Associated is making good

Star One Credit Union in Sunnyvale, Calif., has invested $4.5 million in a new credit union service organization (CUSO) focused on instant payments. The $9.9 billion-asset credit union is backing a CUSO created by Payfinia. The entity offers an open payments platform for credit unions and industry partners. Star One has been a Payfinia customer since the company launched in 2023. The credit union also sent a series of $500,000

Zeplyn, a software-as-a-service company that streamlines wealth management workflows, has raised $3 million in a funding round led by early-stage venture capital firm Leo Capital. Converge VC and several angel investors also participated. The New York company, founded last year by former Google engineers, offers an artificial intelligence product for financial advisors and wealth management firms that tool converts unstructured conversational data into accurate notes. Zeplyn, which has about 250

Republic First Bank failed in April largely because of a “dysfunctional” management and board that made it difficult for regulators to get a handle on the Philadelphia bank's financial condition and capital-raising plans. The bank was closed by regulators and substantially all of its deposits and assets were sold to Fulton Bank. A material loss review commissioned by the Federal Deposit Insurance Corp. noted that the dysfunction dates back to

Cascade Federal Credit Union in Kent, Wash., turned to the banking industry to recruit its next leader. The $347 million-asset credit union said in a press release that it hired Sam Jimenez as its president and CEO. Jiminez succeeded Sarah Richardson, who will remain with the credit union through the end of this year to assist with the transition. Jiminez recently served as CEO of 1st Capital Bank in Salinas, Calif.,

Axos Financial in San Diego has formed a technology and life sciences banking division after recruiting a banker from City National Bank. The company said in a press release that Rod Werner will lead the division. He was head of the technology banking division at City National. The new division will have teams in San Francisco, Boston, New York, Los Angeles and Palo Alto, Calif. The division will offer recurring revenue

Insight Credit Union in Winter Springs, Fla., has agreed to a sale-leaseback transaction involving three branches. The credit union sold the locations to MountainSeed Real Estate Services in Atlanta for about $9.6 million. Insight then agreed to lease the branches for an initial 15-year term with a 15-year renewal option. The lease rate wasn't disclosed. “We believe leveraging the value in our previously owned locations is a wise decision," George