The Federal Deposit Insurance Corp. has given conditional approval to another proposed Florida bank. Organizers of the planned Gala Bank in Ocala, Fla., must raise $11 million in capital before the bank can open. They filed their application in April 2023. A public notice tied to the original application listed 13 organizers: Dennis Baxley, Larry Cheshire, Digvijay Gaekwad, William Gaston III, Roger McKellar, Matthew Gray, Richelle Pace, Himanshubhai Patel, Paresh

First Busey in Champaign, Ill., has agreed to buy CrossFirst Bankshares in Leawood, Kan. The $12 billion-asset First Busey said in a press release that it will pay $916.8 million in stock for the $8 billion-asset CrossFirst. The deal is expected to close in the first half of 2025. “The partnership between our high-quality franchises is a great fit from a strategic, financial and cultural perspective, and we look forward

Happy Money, which provides unsecured lending services to credit unions, has a new CEO. The company said in a press release that it hired Matt Potere. He was CEO of Sunlight Financial, which provides loans for clean energy projects. "Matt is a seasoned leader with deep experience in end-to-end digital lending, which will bring considerable benefit to our credit union lending partners," Brian Kaas, president and managing director of TruStage

Old Second Bancorp in Aurora, Ill., has agreed to buy five Chicago-area branches from First Merchants in Muncie, Ind. The $5.7 billion-asset Old Second said in a press release that it will gain $304 million of deposits and $12 million of loans. The company will pay a 7.5% deposit premium, or roughly $23 million, in cash. The purchase is expected to close near the end of this year. The deal

La Plata Bancshares in Hereford, Texas, raised $10.9 million. The $283 million-asset company completed a private placement of common stock on Aug. 20, according to a regulatory filing. The total offering amount was $12 million, meaning that about $1.1 million of shares were not sold.

Merchants & Marine Bancorp in Pascagoula, Miss., has hired a veteran banker to serve as brand president and CEO of its bank. The $687 million-asset company said in a press release that it recruited Paige Oliver to fill the newly created role. Oliver was president and CEO of the Bank of Oak Ridge in Oak Ridge, La. “Paige’s extensive leadership experience, drive to make a positive impact on those around

A group in Albertville, Ala., has applied to form a new bank. Organizers are planning Solutions Plus Bank, according to a legal notice tied to an application with the Federal Deposit Insurance Corp. The application wasn’t immediately available. The notice listed 13 organizers: John Weathers, Myra Pierce, Thomas Carroll, Susan Armstrong, Tony Cochran, Jeannie Courington, Randy Jones, Wright Ross, Steven Brindley, Shannon Corbitt, Anna Weathers Smith, Clay Scofield and Sergio

Columbia Financial in Fair Lawn, N.J., is planning to merge its banks. The $10.8 billion-asset company said in a press release that the Office of the Comptroller of the Currency approved its application to merge its Freehold Bank into Columbia Bank. The transaction is expected to close on Oct. 5.