Organizers of a proposed New Orleans de novo plan to open the bank as a minority depository institution. The group behind the proposed InclusiveBANK primarily intends to serve low- and moderate-income communities around New Orleans, according to its application with the Federal Deposit Insurance Corp. "However, this will not be the bank’s sole mission as we intend to be inclusive of all of the needs of everyone in our communities,"

Wilson Bank & Trust in Lebanon, Tenn., has agreed to buy a Cookeville, Tenn., branch from F&M Financial in Clarksville, Tenn. The $5 billion-asset Wilson Bank said in a press release that it will also gain about $35 million of deposits and most of the branch's loans from the purchase, which is expected to close in the first half of 2025. The price wasn't disclosed. "This transaction allows us to

Farmers Savings Bank in Colesburg, Iowa, has agreed to buy Elgin State Bank in Elgin, Iowa. The $235.5 million-asset Farmers Savings submitted their application with the Federal Deposit Insurance Corp. on Nov. 12. The price wasn't disclosed. The $28.6 million-asset Elgin State has two branches. "Even though the [branches] will operate under a new name and ownership, the current staff looks forward to continuing to serve you in the same

A former executive at Nano Banc in Irvine, Calif., has been barred from working in the banking industry. The Federal Reserve also said in a press release that it fined Anthony Gressak III $75,000 after he allegedly obtained pandemic relief funds fraudulently, among other things. Gressak, who co-founded the $958 million-asset bank, resigned as its interim CEO in 2022. Gressak had also been the bank's chief credit officer. The Fed claimed

Malvern Bank in Malvern, Iowa, will soon have a new president. The $216 million-asset bank said in a press release that Kate McGann will take on the role on Jan. 1. She is the bank's chief lending officer and is on the board. Jay Burdic will remain chairman and CEO. "The growth experienced by Malvern Bank and the community in recent years has been transformational and I look forward to

George Makris Jr. is back at the helm of Simmons First National in Pine Bluff, Ark. The $27.3 billion-asset company said in a press release that Makris, who was CEO from 2014 to 2022, will return to the post on Jan. 1. He will succeed Bob Fehlman, who is stepping down "to focus on personal interests and family medical issues." Fehlman will serve in an advisory role through the first

Valley National Bancorp in New York brought in nearly $449 million by selling common stock. The $62 billion-asset company, which has been shedding commercial real estate loans, disclosed in a regulatory filing that it sold 49.2 million shares, including 6.4 million shares tied to its overallotment option, at $9.35 a share. Valley has been selling loans as part of a plan to lower its ratio of CRE to risk-based capital

Dime Community Bancshares in Hauppauge, N.Y., is raising $125 million to potentially reposition its balance sheet. The $13.7 billion-asset company disclosed in a presentation that it plans to sell common stock through a follow-on offering. The company could increase the offering by 15% if there is enough demand. Net proceeds could be used to support organic growth and could include use as working capital, investments in the company's bank and