Sound Credit Union in Tacoma, Wash., has agreed to buy Washington Business Bank in Olympia – the sixth credit union-bank deal announced this year. The $2.9 billion-asset Sound said in a press release that it will buy the $105 million-asset bank for $34 to $36 a share in cash. The deal is expected to close in the fourth quarter. “Washington Business Bank has served as a cornerstone for local business

Cross River Bank in Fort Lee, N.J., has formed an investment banking division. CRB Group, the parent of the $8.7 billion-asset Cross River, said in a press release that CRB Securities will be led by Benjamin Samuels and Henry Pinnell, who will serve as co-heads of investment banking. Samuels previously served as co-head of alternative capital and Morgan Stanley, while Pinnell was a senior managing director at SVB Securities and

Bancorp 34 in Scottsdale, Ariz., reported a quarterly loss that largely reflected costs tied to a pending acquisition.   The $581.3 million-asset company lost $1.7 million in the fourth quarter, which included $1.7 million in expenses tied to its plan to buy CBOA Financial in Tucson, Ariz. Bancorp 34 also said that higher funding costs as a factor.   Separately, Bancorp 34, which lost nearly $2.3 million in the third

Financial Institutions in Warsaw, N.Y., disclosed a case of fraudulent activity. The $6.2 billion-asset parent of Five Star Bank said in a regulatory filing that it discovered an issue with deposit transactions that took place over “several business days” earlier this month. The transactions involved an in-market business customer. The company estimated that its potential exposure could be up to $18.9 million, though it could be lower if it recovers

Landmark Bancorp in Manhattan, Kan., will have a new CEO. Abby Wendel will also become the company’s president and join its board on March 29. She will succeed Michael Scheopner, who will serve in a non-executive role until he retires at the end of the year. Wendel previously served as president of the consumer division at UMB Bank. “During my time at Landmark … we have grown a diverse platform

New York Community Bancorp in Hicksville will raise more than $1 billion by selling securities to Liberty Strategic Capital, Hudson Bay Capital Management, Reverence Capital Partners and other investors. Liberty will invest $450 million, Hudson Bay will invest $250 million, and Reverence will invest $200 million. The sales are expected to close on March 11. New York Community will add four directors: Steven Mnuchin, Joseph Otting, Milton Berlinski and Allen

Berkshire Hills Bancorp in Boston has agreed to sell 10 branches in New York to three buyers. The company said in a press release that it will sell eight branches to Hudson Valley Credit Union. It will sell one branch to Arrow Financial and another to Pathfinder Bank. The branches collectively have $485.5 million in deposits and $60.5 million of residential mortgage and consumer loans. The sales exclude Berkshire’s commercial

Bancorp 34 in Scottsdale, Ariz., will rebrand its bank after it buys CBOA Financial in Tucson, Ariz. Bancorp 34 said on its LinkedIn page that its bank will become Southwest Heritage Bank. The $28 million deal is expected to close this year.