Simone Lagomarsino is taking on even more responsibility at First Foundation in Dallas. The $13.6 billion-asset company disclosed in a press release that Lagomarsino had become its president, succeeding Scott Kavanaugh. She had already been named the bank’s president as part of a recent capital raise. Kavanaugh remains the company’s CEO. First Foundation raised $228 million this summer in a a deal that will help it lower its concentration of

NBT Bancorp in Norwich, N.Y., has agreed to buy Evans Bancorp in Williamsville, N.Y. The $13.5 billion-asset NBT said in a press release that it will pay $236 million in stock for the $2.3 billion-asset Evans. The deal is expected to close in the second quarter. “We are confident [the acquisition] is a high-quality and incredibly impactful way to expand NBT’s presence into western New York,” Scott Kingsley, NBT’s president

KeyCorp in Cleveland repositioned its balance sheet. The company, which recently agreed to sell a big stake in itself to Scotiabank, sold $7 billion of low-yielding securities at an after-tax loss of $700 million. The securities that were sold had a weighted average book yield of about 2.3% and an average duration of roughly six years. The first $800 million tranche of Scotiabank’s investment recently closed.

Customers Bancorp in West Reading, Pa., which was recently hit with an enforcement action, has a new chief risk officer. The $21 billion asset company said in a press release that Nick Robinson had taken over the role at its bank. It also created the new position of chief banking officer, which was filled by Lyle Cunningham, who had been chief lending officer and head of specialized banking. Robinson, who

Texas Capital Bancshares in Dallas continues to reshape its balance sheet. The $29.9 billion-asset company said in a press release that it bought a $400 million portfolio of committed exposure to the healthcare sector and sold $1.2 billion of securities at a $139 million after-tax loss. Texas Capital said it expects to report a net loss in the third quarter due to the securities sales. The proceeds from the securities

QCR Holdings in Moline, Ill., will stop offering new loans and leases through its equipment finance business. The $8.9 billion-asset company said in a press release that m2 Equipment Finance will continue to service its existing $360 million portfolio with a reduced staff. The majority of the portfolio should amortize over the next three years. QCR bought the Waukesha, Wis., company in 2005. “We expect that this change will improve our

Builtwell Bancorp in Chattanooga, Tenn., has agreed to buy Bradley County Financial in Cleveland, Tenn. The $1.8 billion-asset parent of Builtwell Bank said in a press release that it plans to buy the holding company for the $352 million-asset Bank of Cleveland in the first quarter. The price wasn’t disclosed. Bank of Cleveland has four branches. Builtwell was created when First Volunteer Bank rebranded in 2022.

ConnectOne Bancorp in Englewood Cliffs, N.J., has agreed to buy The First of Long Island in Melville, N.Y. The $9.7 billion-asset ConnectOne said in a press release that it will pay $284 million in stock for the $4.2 billion-asset First of Long Island. The deal is expected to close in mid-2025. As part of the deal, ConnectOne plans to raise about $100 million by issuing subordinated debt before closing. Net