Strategic Insights into Banking & Fintech

United Community in S.C. to sell equipment finance business for $1.9 billion

United Community in S.C. to sell equipment finance business for $1.9 billion

United Community Banks in Greenville, S.C., agreed to sell its equipment finance business to funds managed by Wafra Inc., acting through Navitas TopCo. The $28.2 billion-asset United said in a press release that it is selling Navitas Capital for $1.9 billion in cash, resulting in a one-time pretax earnings benefit of $109 million. The sale is expected to close in the third quarter. The business accounts for a tenth of

June 12, 2026
Isabella to buy Grand River Commerce in Michigan bank merger

Isabella to buy Grand River Commerce in Michigan bank merger

Isabella Bank in Mt. Pleasant, Mich., has agreed to buy Grand River Commerce in Grandville, Mich. The $2.3 billion-asset Isabella said in a press release that it will pay $54.6 million in cash and stock for the $511.7 million-asset Grand River. The deal, which is expected to close in the fourth quarter, priced Grand River at 123% of its tangible book value. Grand River has $438.9 million in deposits and

June 12, 2026
Proposed Puerto Rican bank to focus on housing, digital banking

Proposed Puerto Rican bank to focus on housing, digital banking

A group of organizers is seeking regulatory approval to launch Dorado Bank, a proposed Puerto Rico-chartered bank that would focus on residential mortgage lending, housing rehabilitation and digital banking. Organizers of the proposed Dorado Bank applied on May 26 with the Federal Deposit Insurance Corp. and the Puerto Rico Office of the Commissioner of Financial Institutions. Its proposed parent company is Dorado Bank Financial Holdings. The application presents Dorado as

June 11, 2026
Neobank Current raises $80 million in latest funding round

Neobank Current raises $80 million in latest funding round

Neobank Current raised $80 million in a new funding round. The consumer fintech platform said in a statement that the Series E round was led by Springcoast Partners, establishing a $1.5 billion valuation. Springcoast will appoint a director as part of the investment. Earlier investors include Andreessen Horowitz, Tiger Global Management, and QED Investors. Current, which has said that it expects to attain profitability this year, said the new funds

June 11, 2026
BancFirst to buy Spirit Bank in Oklahoma

BancFirst to buy Spirit Bank in Oklahoma

BancFirst in Oklahoma City has agreed to buy Spirit BankCorp. in Tulsa, Okla. The $15 billion-asset BancFirst said in a press release that it expects to buy the parent of the $939.6 million-asset SpiritBank in the fourth quarter. The price wasn't disclosed. Spirit Bank has $618.4 million in loans and $847.2 million in deposits. "Oklahoma is our home and we are excited to bring two outstanding communities, Bristow and Sapulpa,

June 10, 2026
De novo Cornerstone Community Bank opens in Kentucky

De novo Cornerstone Community Bank opens in Kentucky

Cornerstone Community Bank has opened in Owensboro, Ky. Organizers raised the $20 million in initial capital that the Federal Deposit Insurance Corp. required when it gave conditional approval in February. The application was submitted in August. Kyle Aud, a former market president at German American Bank, is CEO. Jonathan Lawson, a former chairman and president of Bank of Ohio County, which sold to First United Bank in 2016, and Steven

June 9, 2026
AI-focused fintech AI raises $3 million in latest funding round

AI-focused fintech AI raises $3 million in latest funding round

Titan, a fintech that helps financial institutions with the security, explainability, and domain expertise challenges with artificial intelligence, raised $3 million in new funding. Titan said in a press release that the funding round, led by Entropy Ventures, will support hiring as the fintech expands and builds banking‑native AI infrastructure. The fintech emerged from stealth in October 2025. Titan is Entropy Ventures Fund I’s inaugural investment. “Banking is one of

June 9, 2026
Truist adds former BofA exec Cathy Bessant to its board

Truist adds former BofA exec Cathy Bessant to its board

Truist Financial in Charlotte, N.C., added a heavy hitter to its board. The company said in a press release that Cathy Bessant had become a director and will serve on its risk committee. Bessant, who recently served as CEO of Foundation for the Carolinas, was a long-time Bank of America executive. She retired as BofA's vice chair of global strategy and a member of the executive management team.

June 9, 2026