Blue Ridge Bankshares in Charlottesville, Va., is looking to resolve a longstanding lawsuit filed by former employees of a processor bank. The $3.3 billion-asset company has offered to pay $6 million to settle claims that executives at Virginia Community Bank breached their fiduciary obligations by improperly using an employee pension fund. Blue Ridge bought Virginia Community in December 2019. The lawsuit, filed in U.S. District Court for the Western District

Caltech Employees Credit Union in La Cañada Flintridge, Calif., has lined up its next CEO. The $2 billion-asset credit union said in a press release that John Meeker will also become president on April 2. Meeker, the credit union’s chief financial officer, will succeed Rich Harris, who is retiring. Meeker “is an experienced credit union executive whose expertise, commitment, and passion have been critical factors in the success of our

Hudson Valley Credit Union in Poughkeepsie, N.Y., has agreed to buy Catskill Hudson Bank in Kingston, N.Y. The $7 billion-asset credit union said in a press release that it will pay about $28.6 million in cash for the $400 million-asset bank unit of Catskill Hudson Bancorp. The deal is expected to close in the second half of this year. "This is an important moment in our growth story,” Jonathan Roberts,

A former Wells Fargo and JPMorgan Chase executive is set to become the next president of Mr. Cooper Group. The mortgage company said in a press release that Mike Weinbach will succeed Chris Marshall on Feb. 1 and will be responsible for operations, including originations, servicing and technology. Weinbach previously served as CEO of consumer lending at Wells Fargo. Before that, he was CEO of Chase Home Lending at JPMorgan

Clark Street Capital in Chicago created a platform that helps community banks and other lenders quickly sell small loans. The firm’s Accelerated Bank Asset Network, which is designed to handle assets and portfolios of $5 million or less, pairs sellers with an established buyer network, according to American Banker. The sales can happen in as little as two weeks. Clark Street Capital recently completed its first deal, marketing a $2

Pacific Financial in Aberdeen, Wash., has hired a commercial banking team from First Interstate Bank. The $1.2 billion-asset company said in a press release that the seven-member team will operate out of Lake Oswego, Ore., near Portland. The team includes Katherine Ledson, who was named commercial banking team leader, and Jon Little, commercial real estate manager. The other hires are Anthony Tomashek, Callum Auer, Robyn Chan, Tae Kim and Molly Schaefer.

Susser Banc Holdings in Dallas has raised $40.3 million through a private placement of common stock. The parent of the $2.1 billion-asset Susser Bank completed the private placement on Jan. 2, based on data compiled by Performance Trust Capital Partners. PTCP did not detail how many shares were sold, the pricing, or the investors who were involved.

Kevin Hood has been named CEO of 1st University Credit Union in Waco, Texas. Hood, who was an executive vice president, succeeded Gary Parker, who retired at the end of last year. Before joining the credit union, Hood was at Cornerstone Resources. “I have known Kevin Hood since he started at the credit union and have been delighted to see his growth in knowledge and ability over the years,” Randy