Independence Bank in East Greenwich, R.I., which recently filed a lawsuit against its regulators, is facing Federal Deposit Insurance Corp. claims that it violated certain Small Business Administration rules and regulations. The FDIC, in a notice of charges and of hearing and prayer for relief document, claims that the $28.4 million-asset bank charged several fees in violation of SBA rules, including certain packaging fees. The FDIC also claims that the

The Federal Deposit Insurance Corp. has received its first application for deposit insurance in 2024. Organizers applied on Jan. 2 to open Greater Gotham Bank in White Plains, N.Y. The application wasn’t immediately available, though the group has secured a website. A public notice tied to the application lists seven organizers: Laurence Marchini III, Jeffrey Wall, Harry Katz; Robert Liberto, Jeffrey Meshel, Adelaide Polsinelli and Juan Soto. Marchini is a

Brighton Bank in Brighton, Tenn., entered into a consent order with the Federal Deposit Insurance Corp. that requires the bank to overhaul compliance with the Bank Secrecy Act and anti-money-laundering laws. The Nov. 30 order comes after the FDIC identified compliance shortcomings and mandates at the $51.4 million-asset bank. Brighton must hire a BSA officer, have a designated BSA/AML team, enhance IT audits and train its staff in BSA/AML requirements,

Ed Crutchfield, who used dozens of acquisitions over 15 years to put First Union Bank in Charlotte, N.C., on the national stage, has died. Crutchfield, 822, retired in 2001 to successfully fight lymphoma, leaving behind the nation’s sixth-biggest bank. He was succeeded by Ken Thompson, who acquired Wachovia and adopted the seller’s name for the bank. Wachovia was sold in a firesale to Wells Fargo during the 2008 financial crisis.

Stone Bank in Mountain View, Ark., has a new leader. Nick Roach, who was already the $738.8 million-asset bank’s president, added the role of CEO. He succeeded Marnie Oldner, who retired but will remain on the board. “I am grateful to have such a fantastic, dedicated, passionate group of people and bankers to work with day in and day out, you all make the difference,” Roach said in a LinkedIn

Intracoastal Bank in Palm Coast, Fla., didn’t have to look far to find its next CEO. The $497.8 million-asset bank said in a press release that Ryan Page had succeeded his father, Bruce. The younger Page had been the bank’s president since January 2021. Before joining Intracoastal in 2016, Ryan Page was an associate relationship manager in the Denver commercial banking group at BBVA. Intracoastal “is fortunate to have a

All In Credit Union in Daleville, Ala., has agreed to buy five Alabama branches from 22nd State Bank in Louisville, Ala. The $3 billion-asset credit union said in a press release that the branches are in Brewton, Clayton, Eufaula, Geneva and Louisville. After the sale closes, the $250 million-asset 22nd State will move its charter to Mobile, Ala. The deal is expected to close in the third quarter. The price

BayFirst Financial in St. Petersburg, Fla., has a new president and CEO. The $1.1 billion-asset company said in a press release that Robin Oliver became its president and Thomas Zernick was named CEO, effective Jan. 1. Zernick succeeded Anthony Leo, who retired but remains a director and will serve as a part-time consultant. Oliver succeeded Zernick as president. Oliver had been chief operating officer. “It is my great pleasure to