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

United Prairie Bank in Mountain Lake, Minn., has a new CEO. Scott Miller announced on his LinkedIn account that he had also become the $879.2 million-asset bank’s president. Miller, who was already on the bank’s board, previously served as a partner at Debt Advisors Network.

New York Community Bancorp in Hicksville just sold $899 million of consumer loans and shed more light on its recently disclosed material weakness. The $114.1 billion-asset company said in its annual report that it recently sold the consumer loans and a commercial co-op loan. The pricing wasn’t disclosed. The filing shared more insight into the company’s material weakness, which was originally disclosed in late February. “We did not sufficiently maintain

Three New Orleans area mutual banks are planning to convert to stock-owned companies. The $1.1 billion-asset Fidelity Bank and the $481 million-asset Fifth District Savings Bank have already disclosed their plans in regulatory filings, while Mutual Savings and Loan in Metairie, La., announced its planned conversion in a press release. Fidelity created FB Bancorp for the purpose of converting. The bank plans to raise around $128 million to $173 million