GBank Financial Holdings in Las Vegas has agreed to buy BankCard Services. The $729 million-asset GBank said in a press release that it will pay $10 million in stock for the cashless payments company, which will operate as a unit of the bank and bolster its gaming fintech division. The acquisition, which is set to close in the second quarter, is expected to be immediately accretive to GBank's earnings per

First Community in Lexington, S.C., has given its bank president added duties.   The $1.8 billion-asset company said in a press release that Ted Nissen will become CEO of First Community Bank on Jan. 1. Nissen, who will also join First Community’s board, will add responsibility for mortgage and financial planning.   First Community also said that Drew Painter and Vaughan Dozier Jr. will become co-chief commercial and retail banking

The Independent Community Bankers of America has selected six companies to participate in its first ICBA ThinkTECH Accelerator program of 2024. The ICBA said in a press release that the program will focus on fintechs that handle analytics, automation and compliance. The companies will participate in a 10-week program that begins on Jan. 8. The selected companies are: Azimuth: Provides improved automated full-population compliance testing Conductiv: Collects more lending and

CB Financial Services in Washington, Pa., has repositioned its securities portfolio. The $1.4 billion-asset company said in a press release that it sold $79.4 million of securities at an after-tax loss of $8 million. The bank bought $69.3 million of higher-yielding mortgage-backed securities and collateralized mortgage obligations issued by U.S government-sponsored agencies. The moves should add $1.8 million to annual after-tax earnings. It should take a little more than four

Heartland Bank in Geneva, Neb., has agreed to buy State Bank of Odell in Nebraska. The $807 million-asset Heartland filed its applications to acquire the $32 million-asset State Bank on Dec. 11. The deal is expected to close in the first quarter; the price wasn’t disclosed. “We are excited to have the opportunity to expand our presence in Nebraska and extend a warm welcome to State Bank of Odell’s valued

First Busey in Champaign, Ill., used the sale of Visa Class B shares to offset the costs of a balance sheet restructuring.   The $12.3 billion-asset company disclosed in a regulatory filing that it sold $110 million of available-for-sale securities with a 1.56% yield at a $5.3 million pretax loss. Proceeds were deposited into an interest-bearing account at the Federal Reserve yielding 5.4%.   The company said it plans to

Ncontracts, a Brentwood, Tenn., software-as-a-service company, has acquired Quantivate, a Washington-based provider of governance and compliance solutions for banks. The price wasn’t disclosed. "We are thrilled to join forces with the Quantivate team," Michael Berman, Ncontracts’ CEO, said in a press release. "Both companies share a commitment to helping financial institutions reduce risk, improve compliance, and control costs. By combining our complementary resources and solutions, we are even better positioned to

Orrstown Financial Services in Shippensburg, Pa., has agreed to buy Codorus Valley Bancorp in York, Pa. The $3.1 billion-asset Orrstown said in a press release that it will pay $207 million in stock for the $2.2 billion-asset Codorus Valley. The deal is expected to close in the third quarter. Orrstown shareholders will own 56% of the combined company, which will have 51 branches in Pennsylvania and Maryland. Orrstown will retain