Georgia Heritage Federal Credit Union in Savannah has a new leader. The $149 million-asset credit union said in a press release that it hired Matt Selke as its president and CEO. Selke, who was CEO of Pinnacle Credit Union in Atlanta, will succeed Dale Taratuta, who is retiring at the end of this month. Georgia Heritage has four branches and more than 15,000 members. It merged with G.P.A. Credit Union

Pathward Financial in Sioux Falls, S.D., has agreed to sell its commercial insurance premium finance business to AFS IBEX Financial Services. The $7.5 billion-asset Pathward said in a press release said that AFS, a unit of Honor Capital Holdings, will pay a $31.2 million premium on top of the net asset value of the assets, which was $617.1 million on June 30. The deal is expected to close by the

Bridgewater Bancshares in St. Louis Park, Minn., has agreed to buy First Minnetonka City Bank in Minnetonka, Minn. The $3.7 billion-asset Bridgewater said in a press release that it will pay cash for the $242 million-asset First Minnetonka City Bank. The deal is expected to close in the fourth quarter. First Minnetonka City Bank has two branches, $212 million of deposits and $128 million of loans. “We are very pleased

Northwest Federal Credit Union in Washington, D.C., has acquired the naming rights for the Washington Commanders stadium. The $4.6 billion-asset credit union and the NFL team did not disclose the financial details of the eight-year deal. Northwest, in 2023, became the Commanders' official credit union partner. The announcement comes days after Umpqua Bank, a unit of Columbia Banking System, agreed to a multiyear deal to become the official bank of

Regulators approved an application by OakNorth Bank Plc in London to open a representative office in New York. The office “would act as a liaison with current and prospective U.S. customers of the bank,” the Fed said in its order approving the office. ‘It would promote and market the bank’s products and services, perform back-office functions, conduct market research, and facilitate lending to U.S. customers.” Rishi Khosla, the $7.4 billion-asset

Mutual Savings and Loan Association in Metairie, La., plans to raise up to $8.2 million by converting to a stock-owned company. Magnolia Bancorp is offering 616,250 to 833,750 shares of common stock at $10 each. The company could sell up to 958,813 shares if there is sufficient demand. Net proceeds could range from $4.8 million to $8.2 million. The $35.5 million-asset Magnolia said it could use proceeds from the offering

Linker Finance, a Pasadena, Calif., company that offers mobile and online banking services to community banks, raised $3.7 million in seed financing. The startup said in a press release that the funding round was led by Ten One Ten Ventures and Chingona Ventures. Other participants included Audaz Capital, Techstars, Commerce Ventures, Bank of Brodhead, and Angeles Investors. Angel investors included Edrizio de la Cruz, Ahmed Mirza, Michael Olson, and Roberto Medrano. "Linker Finance brings

The Federal Deposit Insurance Corp. has given conditional approval to another proposed Florida bank. Organizers of the planned Gala Bank in Ocala, Fla., must raise $11 million in capital before the bank can open. They filed their application in April 2023. A public notice tied to the original application listed 13 organizers: Dennis Baxley, Larry Cheshire, Digvijay Gaekwad, William Gaston III, Roger McKellar, Matthew Gray, Richelle Pace, Himanshubhai Patel, Paresh