Savi Financial in Mount Vernon, Wash., which once explored forming a second bank, will instead sell its bank to Harborstone Credit Union in Lakewood, Wash. The $1.9 billion-asset Harborstone will pay an $16 to $17 a share in cash for the $593 million-asset SaviBank. The deal is expected to close in the fourth quarter. Savi Financial will liquidate and dissolve and distribute its remaining assets to its investors after the

The Federal Deposit Insurance Corp. has given conditional approval for a new bank in Houston. Organizers of the proposed Integrity Bank must raise $37 million prior to opening, according to the FDIC’s order. Integrity plans to operate as a state-chartered savings bank. The group of 19 organizers originally applied with the FDIC in June 2023. Charles Neff Jr. would serve as chairman and CEO; Hazem Ahmed would be the proposed

New York Community in Hicksville has appointed a director with experience serving on a bank board. The $114.1 billion-asset company disclosed in a regulatory filing that Alan Frank will also stand for election at this year’s annual meeting. He will serve as chairman of the audit committee. Frank, who spent 40 years at Deloitte & Touche, was a director of OneWest Bank when it was sold to CIT Group. He

Bakkt Holdings in Alpharetta, Ga., selected one of its directors to become its next CEO. The crypto custody firm said in a press release that Andy Main will also become president on March 26. He will succeed Gavin Michael, who will step down to pursue other opportunities. Michael will serve in an advisory role through March 2025 to assist with leadership transition and advise the board and executive team on

Air Force Federal Credit Union in San Antonio will rebrand as Soarian Credit Union on April 2. The $663 million-asset credit union said in a press release that the new name combines “soar” and “orion.” “After an extensive strategic process, and research that uncovered name confusion in our markets, our board … chose to rebrand ourselves,” Ryan Ross, the credit union’s CEO, said in the release. “We believe this new

A pair of fintech agreed to pay a total of $59 million to settle claims by the Federal Trade Commission that they misled small businesses pursuing funds from the Paycheck Protection Program. Biz2Credit will pay $33 million to resolve allegations its overpromised on PPP turnaround times. While the company claimed it could process applications, on average, in 10 to 14 business days, the FTC said that average was more than

LINKBANCORP in Camp Hill, Pa., is closing three branches.   The $2.7 billion-asset company said in a press release that it will close locations in the Pennsylvania markets of Trevorton and Minersville, along with a branch in Ocean City, Md.   The closures are expected to take place in the second quarter.   Separately, the company said it will convert its loan-production office in Annapolis, Md., into a full-service branch

nCino in Wilmington, N.C., has agreed to buy DocFox, which automates onboarding experiences for commercial and business banking. The deal is expected to close by the end of this month. The price wasn’t disclosed. The acquisition should allow nCino to offer clients a single platform for information intake, document collection and due diligence. The acquisition “extends our existing functionality and will deliver a modern experience to an area of commercial