Monroe Federal Savings and Loan Association in Kipp City, Ohio, is planning to convert to a stock-owned company. The $155 million-asset mutual said in a prospectus that it plans to sell 510,000 to 793,000 shares of stock in Monroe Federal Bancorp at $10 a share. Net proceeds would likely range from $3.7 million to $6.5 million.  The high-end numbers represent shares sold if there is significant demand.Monroe Federal will receive

Blue Ridge Bankshares in Charlottesville, Va., is bringing in a little more capital after selling shares to a long-time investor. The $3.1 billion-asset company disclosed in a regulatory filing that it sold common stock, preferred stock, and a warrant to buy more preferred shares to Richard Spurzem for gross proceeds of $11.6 million. Spurzem, who joined Blue Ridge’s board in 2014, had gross-up rights tied to the company’s $150 million recapitalization led

InScope, an automated financial reporting fintech, has raised $4.3 million in a seed capital round. The round was led by Lightspeed Venture Partners with participation from individual investors such Vipul Ved Prakash, founder/CEO of Together AI; Jake Heller, founder/CEO of Casetext; Debbie Clifford, CFO at Autodesk; Justin Coulombe, CFO at Miro; and Nadia Asoyan, CFO at Strike. InScope plans to expand to 50 customers, using the new capital to scale

First Hope Bank in Hope, N.J., has a new CEO. The $629 million-asset bank said in a press release that Daniel Beatty has also become its president. He succeeded Donald Somma, who had led the bank since 2016. Beatty, who represents the fourth generation of the bank’s founding family, previously served as a senior executive vice president. He was the chief operating officer from 2011 to 2021, according to his LinkedIn

Dallas Capital Bank has a new president. The $1.1 billion-asset bank said in a press release that Jason Matthews, its chief banking officer, had taken on the additional role. Matthews, who joined the bank in 2015, succeeded Doug Hutt, who remains chairman and CEO. Matthews “has been a key contributor to the overall growth of the bank,” Hutt said in the release. “His knowledge of the north Texas business community

The Bank of New Glarus in Wisconsin has acquired First National Bank at Darlington in Wisconsin. The $492 million-asset Bank of New Glarus said in a press release that it bought the $194.2 million-asset First National on May 31. The price wasn’t disclosed. “We are extremely proud to have acquired First National Bank at Darlington,” Ron Schaaf, Bank of New Glarus’ president and CEO, said in the release. “There are

Bank of New York Mellon is embracing a shorter brand name. The $435 billion-asset company plans to rebrand as BNY, according to a memo obtained by Reuters. The move will include a new logo and signage. The company, which will retain its full name legally, had previously abbreviated its brand to BNY Mellon.

Provident Financial Services in Iselin, N.J., will close nearly 15% of its branches following its purchase of Lakeland Bancorp in Oak Ridge, N.J. The $24.5 billion-asset Provident, which bought Lakeland in May for $1.3 billion, disclosed on its website that it will close 22 locations on Aug. 29. The closures reflect “overlap” in the combined company’s footprint. “A careful and thorough review of our combined branch network was undertaken, and