Peapack-Gladstone Financial in Bedminster, N.J., is rebranding its bank and wealth management operations under a single name as it looks to make more inroads into New York. The $6.8 billion-asset company said that Peapack-Gladstone Bank will rebrand as Peapack Private Bank & Trust, or simply Peapack Private. “There is established brand equity and a uniqueness in the name Peapack-Gladstone Bank," Denice Pace-Sanders, the company's marketing director, said in the release.

First Financial Bank in El Dorado, Ark., will start 2025 with new leadership. The $1.7 billion-asset bank said in a press release that Sean Williams will become CEO on Jan. 1. Williams, who is chief retail officer, will succeed Chris Hegi, who will remain on the board. First Financial said that Craig Mobley will succeed Hegi as president. Mobley is chief operating officer. Hegi will also remain on the executive

Security Bank in Springfield, Ill., is planning to convert from a mutual to a stock holding company. The $219.6 million-asset bank said in a regulatory filing that Security Midwest Bancorp, a newly formed holding company, plans to sell 807,500 to 1.1 million shares of common stock. Security Midwest could sell up to 1.2 million shares if there is enough demand. Net proceeds could range from $6.4 million to $10.9 million.

Northrim BanCorp in Anchorage, Alaska, has acquired Sallyport Commercial Finance. Northrim said in a press release that its deal valued the asset-based lender at $53.9 million. The deal is expected to be 15% accretive to Northrim's 2025 operating results. Northrim has been a lender to SCR; it provided the lender with $6 million in subordinated debt capital in 2023. SCF will operate as a wholly-owned subsidiary and is expected to complement

Mid Penn Bancorp in Harrisburg, Pa., has agreed to buy William Penn Bancorp. in Bristol, Pa. The $5 billion-asset Mid Penn said in a press release that it will pay $127 million in stock for the $812 million-asset William Penn. The deal is expected to close in the first half of next year. Mid Penn also plans to sell $70 million of common stock in conjunction with the acquisition. William

Central Pacific Bancorp in Honolulu reported quarterly earnings that included expenses tied to assessing a "strategic opportunity." The $7.4 billion-asset company said in a press release that its third-quarter profit increased by 1.5% from a year earlier, to $13.3 million. Central Pacific, which was rumored earlier this year to be in talks to buy American Savings Bank in Honolulu, said it incurred $3.1 million in pretax expenses when it evaluated

VyStar Credit Union in Jacksonville, Fla., must pay a $1.5 million civil penalty to address the Consumer Financial Protection Bureau's concerns over a botched online banking platform launch. The agency penalized the $14.8 billion-asset credit union over issues tied to its May 2022 transition to a new online banking platform that made it challenging for members to perform basic banking functions for weeks. Some features remained unavailable for more than

HomeStreet in Seattle could look to shed $800 million of multifamily loans if its planned sale to FirstSun Capital Bancorp in Denver is terminated. The $8.1 billion-asset FirstSun agreed in January to buy the $9.4 billion-asset HomeStreet in a deal that was originally expected to close in mid-2024. FirstSun planned to raise up to $235 million to help offset the costs tied to purging $300 million of HomeStreet's loans. The