BankFinancial in Burr Ridge, Ill., has reached a truce with an activist investor and added two directors to its board.   The $1.5 billion-asset company said in a press release that Benjamin Mackovak had become a director as part of a standstill agreement with Strategic Value Bank Partners and Strategic Value Investors. Mackovak is managing member of Strategic Value Bank Partners.   The investors agreed to back BankFinancial’s director nominees

Organizers of the proposed Fortuna Bank in Grandview Heights, Ohio, are more than halfway to hitting their initial capital target. The planned de novo posted on LinkedIn that it has raised about $10.5 million. The group plans to raise $20 million of capital before opening. “We are excited to bring this to a close, ASAP,” Ilaria Rawlins, the proposed bank’s president and CEO, posted on LinkedIn. Organizers applied with the

The former CEO of Heartland Tri-State Bank in Elkhart, Kan., which failed in July, has been indicted on charges of embezzling $47.1 million from the bank. Prosecutors, in U.S. District Court for Kansas, allege that Shan Hanes took the funds out of the $139 million-asset bank and its customers from May 30 through at least July 7 “by causing at least 11 wire transfer financial transactions." He allegedly used the

Empeople Credit Union in Moline, Ill., has agreed to buy TSB Bank in Lomira, Wis. The $2 billion-asset Empeople expects to buy the $182 million-asset TSB in the fourth quarter. The price wasn’t disclosed. TSB is the fifth bank to agree to sell to a credit union this year. Empeople, once the credit union for John Deere employees, said the deal would benefit its business and commercial lending services. TSB

Dutch neobank bunq withdrew its application for a U.S. banking license. Bunq said that issues emerged among its Dutch regulator, the Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency. It plans to reapply. The withdrawal was “merely procedural,” a representative told American Banker. The neobank is "fully committed to resolving all the differences.”

Pilot Bancorp in Pilot Grove, Iowa, has agreed to buy Wayland State Bank in Mt. Pleasant, Iowa. Pilot, the parent of the $835 million-asset Pilot Grove Savings Bank, expects to buy the $126 million-asset Wayland State in the third quarter. The price wasn’t disclosed. “It is rare to find a bank whose dedication to customer service and traditional banking values mirrors that of Pilot Grove,” Matt Morrison, Pilot Grove’s president

Wildfire Credit Union in Saginaw, Mich., has a new leader. The $1 billion-asset credit union said in a press release that Benjamin Denay had become its president and CEO. He succeeded Tim Benecke, who retired. Denay previously served as chief financial officer of Gateway Financial Solutions, a Saginaw, Mich., consumer auto finance company. “Ben has the experience and long track record of leadership and success in the financial services sector

SESLOC Credit Union in San Luis Obispo, Calif., has lined up its next CEO. The $1.1 billion-asset credit union said in a press release that Mike Quamma will also become president when Geri LaChance retires in June. Quamma is SESCLOC’s chief financial officer. “It’s hard to aptly summarize the legacy Geri will leave at SESLOC after 12 years at the helm of the credit union,” Tom Lebens, SESLOC’s chairman, said