The proposed Four States Bank in Carthage, Mo., has received conditional regulatory approval. Jeffrey Williams, the proposed bank’s president and CEO, disclosed the approvals in a LinkedIn post. He added that organizers are working towards opening branches in Carthage and Joplin, Mo., later this summer. The Federal Deposit Insurance Corp. said in its order that organizers must raise $23.5 million before the bank can open. The group applied in December

VersaBank in Ontario, Canada, has received Federal Reserve approval to buy Stearns Bank Holdingford in Minnesota. The $3.3 billion-asset VersaBank agreed to buy the $78 million-asset Stearns in June 2022. The deal would allow VersaBank to expand its receivable purchase program business.  “Applicants have conducted comprehensive due diligence and are devoting sufficient financial and other resources to address all aspects of the post-acquisition integration process for this proposal,” the Fed

Enterprise Bancorp in Lowell, Mass., has a new leader. The $4.6 billion-asset company said in a press release that Steven Larochelle had become its CEO. Larochelle, who had been chief banking officer, succeeded Jack Clancy, who retired. Clancy, who had been CEO since 2007, was named an honorary director and will serve as an executive advisor. Clancy “has been the backbone of the Enterprise family for 35 years and mere

Organizers of the proposed Fortuna Bank in Grandview Heights, Ohio, are close to opening. The group behind the effort said in a LinkedIn post that it will formally close the capital raise on June 30. Fortuna Bank received conditional approval from the Federal Deposit Insurance Corp. in February. The agency required organizers to raise $20 million. Ilaria Rawlins is set to become the bank’s president and CEO. The group applied

Torpago, a commercial credit card and spend management provider, raised $10 million in a Series B funding round. The San Mateo, Calif., company said in a press release that the round was co-led by Priority Tech Ventures and EJF Ventures, with participation from BankTech Ventures and others. The investment will help Torpago serve demand for its white-label, end-to-end commercial credit card and expense management software platform. The funds will allow

R Bank in Round Rock, Texas, has a new leader. The $1 billion-asset bank said in a press release that Todd Engemoen had become its president and CEO. He succeeded Steve Stapp, who retired after leading the bank for 16 years. Engemoen was chief financial officer at VeraBank, according to his LinkedIn profile. Engemoen’s “depth of experience and alignment with our core values make him the perfect choice to lead

First State Bank in Lynnville, Iowa, has agreed to buy a branch from Capra Bank in Dubuque, Iowa. The $331 million-asset First State applied with the Federal Deposit Insurance Corp. to assume certain liabilities and assets tied to a branch in Montezuma, Iowa. Pricing wasn’t disclosed. The branch had $48.8 million of deposits in mid-2023.

Haven Savings Bank in Hoboken, N.J., will have new leadership next year. The $1.1 billion-asset bank said in a press release that Lisa Franconeri will become its president and CEO on Jan. 1. Franconeri, the bank’s CRA officer, will succeed the retiring John Wessling III. Wessling will remain chairman. The bank also said that Paul Deponte will become its chief operating officer. He has served as chief financial officer for