First Financial in Terre Haute, Ind., has agreed to buy SimplyBank in Dayton, Tenn. The $4.8 billion-asset First Financial said in a press release that it will pay $73.4 million in cash for the $702 million-asset SimplyBank. The deal is expected to close in the second quarter. SimplyBank has 10 branches in Tennesse and three locations in Georgia. “SimplyBank provides us with an opportunity to deepen our commitment to the

Fidelity D&D Bancorp in Dunmore, Pa., restructured its balance sheet. The $2.5 billion-asset company disclosed in a regulatory filing that it recently sold $35.6 million of available-for-sale securities at a $6.5 million loss. The loss will be reflected in the company’s fourth-quarter financial results. Fidelity said it used the $29.1 million of proceeds to pay down short-term borrowings, which replenished its available borrowing capacity.

Gainey Business Bank in Scottsdale, Ariz., has its new CEO. The $27 million-asset bank said in a press release that Rob Schwister had also become president. Schwister recently served as director of banking programs at Equipment Leasing Services. Before that, he was Arizona market president for Alerus Financial. “Gainey Business Bank could not be happier with the addition of Rob to lead our bank,” Jim Unruh, the bank’s chairman, said

Fifth Third Bancorp in Cincinnati agreed to pay $8 million to the Securities and Exchange Commission to settle claims that employees used unapproved channels for business communications. The $213 billion-asset company warned earlier this year that its investment advisory and broker-dealer units were cooperating with an SEC probe into its compliance with “certain record-keeping requirements for business-related electronic communications on unapproved channels.” Fifth Third, in its quarterly filing, said “other

Associated Banc-Corp in Green Bay, Wis., will report a large fourth-quarter loss after restructuring its balance sheet and pursuing a series of expense cuts. The $42 billion-asset company said in a press release that it will record a $157 million after-tax loss in the fourth quarter. The bank will pay a one-time charge of $5 million largely tied to severance payments. Associated laid off about 3% of its work force

City National Bank in Los Angeles will soon have a new CEO. The $96 billion-asset unit of Royal Bank of Canada said in a press release that Howard Hammond will succeed Kelly Coffey, who to transition to a newly created role as CEO of City National's entertainment unit. The moves will occur on Nov. 27. Hammond, who will join City National's board, recently served as head of consumer banking at Fifth

A group in Jersey City, N.J., is looking to form a bank. Organizers of Chroma Community Bank applied with the Federal Deposit Insurance Corp. on Nov. 8 for deposit insurance. The application wasn’t immediately available. A public notice tied to the application listed nine organizers: Mona Abraham, Stephen Duess, Michael Fox-Rabinovitz, Stanley Gorodesky, Val Katayev, William Liatsis, Steven Mendel, Jennie Rubinshteyn and Janine Yorio. Gorodesky is president of Chroma Consulting,

Flagstar Bank in Hicksville, N.Y., has a new president for its private bank. Flagstar, a unit of the $111 billion-asset New York Community Bancorp, said in a press release that Jason Birnbaum had also become an executive vice president. He is responsible for the day-to-day oversight of all private client banking teams. Birnbaum succeeded Eric Howell, who is moving to a non-executive advisory role. Birnbaum joined Flagstar earlier this year