NBT Bancorp in Norwich, N.Y., will soon have a new leader. The $13.8 billion-asset company said in a press release that Scott Kingsley will become its president and CEO on May 21. Kingsley, NBT’s chief financial officer, will succeed John Watt Jr. Watt, who has led NBT since 2016, will remain on the company’s board and will become vice chairman. He will serve as an adviser until the end of

Jack Henry in Monett, Mo., will promote an insider to become its new CEO. The company said in a press release that Greg Adelson will succeed David Foss on July 1. Foss, who is retiring, will remain executive chairman. Adelson, who joined the company in 2011, is president and chief operating officer. He is responsible for all business lines, technology, infrastructure and sales. "Greg is a strong, proven leader who

First Security Bank & Trust in Charles City, Iowa, has a new CEO. The $570 million-asset bank said in a press release that Brad Miller had also become its president. Miller, who had been chief financial officer, also joined the board. Miller succeeded Kurt Herbrechtsmeyer, who was elected chairman.

Synchrony has agreed to buy Ally Financial’s point-of-sale financing business. The companies said in a press release that the sale includes $2.2 billion of loan receivables. The portfolio includes relationships with roughly 2,500 merchant locations and supports more than 450,000 active borrowers. The deal is expected to close in the first quarter. The financial terms were not disclosed. "This deal represents a significant and exciting growth opportunity for Synchrony – it's a

Rivermark Community Credit Union in Beaverton, Ore., and Advantis Credit Union in Oregon City are planning to merge. The $1.4 billion-asset Rivermark and the $2 billion-asset Advantis expect their merger to close later this year quarter. The combined credit, which would retain the Rivermark name and be based in Oregon City, would have 19 branches and 180,000 members. The credit unions expect to retain all employees and branches. Jason Werts,

Somerville Bank in Eaton, Ohio, has a new CEO. The $255.8 million-asset bank said in a press release that David Douglas Ulrich had succeeded Paul Taylor, who retired. Ulrich, who remains the bank’s president, joined Somerville in 2009.

Banner Corp. in Walla Walla, Wash., reported lower quarterly profit that reflected balance sheet pressure and a securities loss. The $15.7 billion-asset company said in a press release that its fourth-quarter net income fell by 22% from a year earlier, to $42.6 million. Net interest income decreased by 13% to $138.4 million after the net interest margin compressed by 40 basis points, to 3.83%. Banner also sold securities at a

Patriot Bank in Millington, Tenn., will pay $1.9 million to settle a redlining probe. The Justice Department said in a press release that, under a proposed consent order, the $459.4 million-asset bank will invest at least $1.3 million in a loan subsidy fund to increase mortgages, refinances and home improvement loans in majority-Black and Hispanic neighborhoods. Patriot will spend $375,000 on advertising, outreach, consumer financial education and credit counseling focused on majority-Black