A group of organizers is seeking regulatory approval to launch Dorado Bank, a proposed Puerto Rico-chartered bank that would focus on residential mortgage lending, housing rehabilitation and digital banking. Organizers of the proposed Dorado Bank applied on May 26 with the Federal Deposit Insurance Corp. and the Puerto Rico Office of the Commissioner of Financial Institutions. Its proposed parent company is Dorado Bank Financial Holdings. The application presents Dorado as

Neobank Current raised $80 million in a new funding round. The consumer fintech platform said in a statement that the Series E round was led by Springcoast Partners, establishing a $1.5 billion valuation. Springcoast will appoint a director as part of the investment. Earlier investors include Andreessen Horowitz, Tiger Global Management, and QED Investors. Current, which has said that it expects to attain profitability this year, said the new funds

BancFirst in Oklahoma City has agreed to buy Spirit BankCorp. in Tulsa, Okla. The $15 billion-asset BancFirst said in a press release that it expects to buy the parent of the $939.6 million-asset SpiritBank in the fourth quarter. The price wasn't disclosed. Spirit Bank has $618.4 million in loans and $847.2 million in deposits. "Oklahoma is our home and we are excited to bring two outstanding communities, Bristow and Sapulpa,

Silicon Valley Bank filed a lawsuit against Patriot Bank in Stamford, Conn., over roughly $21 million in charge card receivables from Parker, a failed small business fintech that shut down abruptly in May 2026. The dispute, filed by the First Citizens BancShares division in U.S. District Court for the Southern District of New York in early May, hinges on who owns receivables generated between April 21 and May 4. The

Cornerstone Community Bank has opened in Owensboro, Ky. Organizers raised the $20 million in initial capital that the Federal Deposit Insurance Corp. required when it gave conditional approval in February. The application was submitted in August. Kyle Aud, a former market president at German American Bank, is CEO. Jonathan Lawson, a former chairman and president of Bank of Ohio County, which sold to First United Bank in 2016, and Steven

Titan, a fintech that helps financial institutions with the security, explainability, and domain expertise challenges with artificial intelligence, raised $3 million in new funding. Titan said in a press release that the funding round, led by Entropy Ventures, will support hiring as the fintech expands and builds banking‑native AI infrastructure. The fintech emerged from stealth in October 2025. Titan is Entropy Ventures Fund I’s inaugural investment. “Banking is one of

Truist Financial in Charlotte, N.C., added a heavy hitter to its board. The company said in a press release that Cathy Bessant had become a director and will serve on its risk committee. Bessant, who recently served as CEO of Foundation for the Carolinas, was a long-time Bank of America executive. She retired as BofA's vice chair of global strategy and a member of the executive management team.

Farmer Mac lines up its next CEO. The agricultural secondary market provider said in a press release that Zachary Carpenter will take on the role on July 1. Carpenter, who is president and chief operating officer, will succeed Bradford Nordholm. Nordholm, who is retiring, will become a senior advisor to the CEO. “The board has been very pleased with the thoughtful, cooperative, and seamless handoff between Brad and Zack over