Fulton Financial in Lancaster, Pa., plans to close 13 branches in Pennsylvania and New Jersey. The company disclosed in a regulatory filing that the branches will close by Nov. 22. The board approved the closures plan as part of the bank's integration of the failed Republic First Bank. Fulton said it expects to incur pretax costs of about $10 million in the third quarter, including $6 million of writeoffs of

Synovus Financial in Columbus, Ga., posted a net loss in the second quarter after purging its securities portfolio. The $60 billion-asset company lost $14.7 million in the quarter, a reversal from the $173.9.8 million it earned a year earlier. Synovus sold $257 million of bonds during the quarter at a discount. The company plans to reinvest the proceeds into higher-yielding investments and loans. The net interest margin, which widened by

A mortgage banking veteran has agreed to buy Greenwoods Financial Group in Lake Mills, Wis. The $575 million-asset parent of Greenwoods State Bank said in a press release that it agreed to sell itself to Christopher M. George. The deal is expected to close in the first quarter. The price wasn't disclosed.  “I look forward to working with ... the entire Greenwoods team to assist in expanding the bank’s footprint

Discover Financial Services in Riverwoods, Ill., has agreed to sell its private student loan portfolio to strategic partnerships that involve Carlyle and KKR. Discover said in a press release that Firstmark Services, a division of Nelnet, would assume responsibility for servicing the $10.1 billion portfolio following the sale. The purchase price will have a premium to the principal balance of the portfolio and, based on certain assumptions, is expected to

Capital One Financial Group in McLean, Va., has pledged $265 billion over the next five years to support underserved markets as part of its $35 billion purchase of Discover Financial Services. Capital One agreed to maintain its lending to low- and moderate-income consumers and communities at $200 billion over the five-year period. The company will maintain 30% of branches and cafes in LMI neighborhoods. The company also pledged to retain

Firstbanc of Alabama in Talladega has agreed to a sale-leaseback transaction with MountainSeed Real Estate Services. The parent of the $1 billion-asset First Bank of Alabama will sell four branches for about $7.8 million. The bank will lease the offices for an initial 15-year term with the option to extend the lease for another 15 years. The rates were not disclosed. “MountainSeed has been a great partner to the bank

Currency Bank in Oak Grove, La., has a new president and CEO. Scott Gaudin announced on his LinkedIn page that he had also become president and CEO of Axxess Partners, the holding company for the $186 million-asset bank. Gaudin, who was chief lending officer, succeeded Charles Chiasson.

VersaBank named a president for its new U.S. bank. The Canadian bank said in a press release that Tel Matrundola will take on the role at the newly created VersaBank USA. Matrundola was chief strategy officer at PWC Capital, VersaBank’s former parent company. Shawn Clarke was named chief operating officer of VersaBank USA; he was CFO at the Canadian bank. Tim Bloom will serve as chief risk officer at the U.S.