PB Bankshares in Coatesville, Pa., disclosed that a real estate sale fell through. The $450 million-asset company disclosed in a press release that Ferfeldt Investments had terminated an agreement to buy vacant land next to a branch in New Holland, Pa. The investor had agreed to pay $950,000 for the property. “The agreement provided that the buyer could elect to terminate the agreement during the inspection period,” the filing said.

Gesa Credit Union in Richland, Wash., has agreed to buy Security State Bank in Centralia, Wash. The $5.5 billion-asset Gesa did not disclose the price it will pay for the $606 million-asset Security State. The deal is expected to close next year. Security State has 12 branches. “Gesa and Security State Bank have shared the same values for over 70 years, with an unwavering dedication to the communities we serve,”

The former CEO of Heartland Tri-State Bank pleaded guilty to embezzling funds that led to the Elkhart, Kan., bank’s failure. Shan Hanes had been accused of embezzling $47.1 million for personal cryptocurrency purchases, executing 10 wire transfers between May and July 2023. The bank was seized by regulators in July 2023 and sold to Dream First Bank. Hanes faces up to 30 years in prison; he is set to be

Numisma Bank in Greenwich, Conn., has received conditional approval for a Federal Reserve master account. Numisma, which focuses on banknote distribution, is a tier 3 institution that is state-chartered but isn’t backed by the Federal Deposit Insurance Corp. The approval gives the bank access to the Fed’s liquidity facilities. The Fed has rejected applications by other financial institutions, including Custodia Bank and The Narrow Bank, on the grounds that granting

Capital One Financial in McLean, Va., and Walmart have ended their consumer card partnership. The $482 billion-asset Capital One said in a press release that the parties ended a 2018 agreement that made the financial services company the exclusive issuer of Walmart consumer credit cards. Capital One will retain ownership and servicing of the card accounts. The companies had been squabbling in recent months, with Walmart claiming in a lawsuit that

Comerica in Dallas has agreed to beef up its compliance practices under an enforcement action with the Office of the Comptroller of the Currency. The agreement came after the OCC found unsafe and unsound practices at the $79.4 billion-asset company, with a focus on its risk governance and internal controls. There was no financial penalty associated with the agreement. Comerica agreed to form a compliance committee and will show the

SR Bancorp in Bound Brook, N.J., has sold “the vast majority” of its available-for-sale securities portfolio.   The $1.1 billion-asset company said in a press release that it sold $35.4 million of lower-yielding investment securities for a pretax loss of about $4.4 million.   The company expects to redeploy the $30.9 million of proceeds into roughly the same amount of residential and commercial real estate mortgages, which is expected to

The Consumer Financial Protection Bureau issued an interpretive rule confirming that Buy Now, Pay Later (BNPL) lenders are credit card providers while setting expectations for disclosures, refunds and handling disputes. The CFPB, which began an inquiry into BNPL practices in 2021, said it continues to field consumer complaints tied to refunds and disputed transactions. “When consumers check out and choose Buy Now, Pay Later, they don’t know if they will get a