Lakeland Financial in Warsaw, Ind., has combined the roles of chairman and CEO. The $6.4 billion-asset company said in a press release that CEO David Findlay had become its chairman. He succeeded Michael Kubacki, who had been chairman since 2003 but plans to retire in April. Blake Augsburger was named lead independent director. “I first began working with Mike in 1985 when we were at Northern Trust together and our

Park National in Newark, Ohio, sold securities at a loss. The $10 billion-asset company disclosed in a regulatory filing that it sold $291 million in available-for-sale debt securities at a $7.9 million pretax loss. Specifically, Park sold $207 million of fixed-rate debt securities at a $6.6 million net loss, using proceeds primarily to reduce borrowings. It should take less than two years to earn back the loss. Separately, the company

Liberty Bancorp. in Liberty, Ill., has acquired North Adams Bancshares in Ursa, Ill. The $128 million-asset Liberty bought the parent of the $47 million-asset North Adams State Bank on Nov. 10. The price wasn’t disclosed. “Our two banks have always been friendly competitors, and we have worked well together for decades, such as helping each other with larger loans, and bouncing ideas off of one another” Mark Field, Liberty’s chairman

West Virginia Gov. Jim Justice, his family and related parties have filed a lawsuit against Carter Bankshares, alleging that the Martinsville, Va., company has violated federal banking regulations. The family, which has legally sparred with the $4.1 billion-asset Carter for years, alleged in the lawsuit filed in the U.S. District Court for the Southern District of West Virginia that the company has barred family businesses from taking actions, including turning

Middlefield Banc Corp. in Middlefield, Ohio, is preparing for its next CEO. The $1.8 billion-asset company said in a press release that Ronald Zimmerly Jr. will succeed James Heslop II on Dec. 31. Heslop, who is retiring, will also step down from the board. The board will be reduced to 12 directors. “Ron is a proven leader who brings over 35 years of experience as an active member of the

First Citizens BancShares in Raleigh, N.C., amended its community benefits plan, upholding some of the commitments Silicon Valley Bank had made prior to its March failure. The $214 billion-asset First Citizens bought the failed Silicon Valley Bank, which had outstanding commitments tied to its 2021 acquisition of Boston Private Bank. First Citizens’ expanded commitment with the National Community Reinvestment Coalition applies to northern California and Massachusetts. The agreement adds $6.5 billion to

ICBA Bancard, the payments unit of the Independent Community Bankers of America, has rebranded. The ICBA said in a press release that it renamed the unit as ICBA Payments and created a new logo. TCM Bank, which supports the unit, also introduced a new logo that ties into ICBA Payments. “As we evolved from a card-focused company to embrace a wide spectrum of payments offerings, changing our name to reflect

Capital City Bank Group in Tallahassee, Fla., plans to restate several quarters of financial results to correct its handling of transactions between its Capital City Bank and Capital City Home Loans units. The $4.1 billion-asset company said in a regulatory filing that certain mortgage loan purchases were improperly recorded in its financial statements. The issue impacted Capital City’s earnings for 2022 and the first half of this year. The restatement