First Bancorp in Southern Pines, N.C., said its quarterly profit took a hit after it cleaned up its securities portfolio. The company said in a press release that it earned $15.7 million in the fourth quarter. The results included a $43.7 million pretax securities loss. The company sold $342 million of securities, using the proceeds to buy $228.4 million of higher-yielding securities. First Bancorp has done this before, selling $280

First Capital Bancshares in Charleston, S.C., raised $13.2 million. The $811 million-asset company said in a press release that it completed a private placement of common stock sold to accredited individual and institutional investors. First Capital said it plans to use the proceeds to support the continued growth of its franchise, invest in the bank and other purposes. “We are so pleased with the level of investor interest in our

BCB Bancorp in Bayonne, N.J., will take some credit-related hits in the first quarter. The company disclosed in a regulatory filing that it will take a $15.1 million pretax writedown tied to an "isolated" cannabis-related real estate owned property. After charging off $12.7 million in the third quarter tied to the relationships, BCB determined that another writedown was warranted. The company will also record $16.4 million in separate net chargeoffs

Community State Bank in Orbisonia, Pa., has finalized its CEO succession. The $400 million-asset bank said in a press release that Nicole Wilson will succeed Michael Bibak as president on Feb. 2. She will then become CEO when Bibak retires at the end of the year. Wilson is the bank's chief financial officer. “Though Mike’s tenure with Community State Bank has been relatively short, his impact has been significant,” Jessice

High Plains Banking Group in Flagler, Colo., has agreed to buy First National Bank of Hugo in Colorado. The parent of the $446 million-asset High Plains Bank expects to buy the $146.3 million-asset First National in the first or second quarter, according to an announcement by Olsen Palmer, which represented High Plains. The price wasn't disclosed. High Plains Bank has five branches, while First National has three locations.

Cashmere Valley Bank in Cashmere, Wash., will buy back $15 million worth of stock under a tender offer. The bank said in a press release that it expects to repurchase about 200,000 shares of common stock at $75 each. The shares represent about 5.1% of the bank's outstanding stock. The purchase price represents a roughly 11.1% premium above the market price on Dec. 4. Based on a preliminary count, the

Community Financial System in Syracuse, N.Y., has agreed to buy ClearPoint Federal Bank & Trust in Batesville, Ind. The $16 billion-asset Community Financial System said in a press release that it will pay $40 million in cash for the $131.5 million-asset ClearPoint. The deal is expected to close in the second quarter. ClearPoint is a national leader in trust administration for the death care industry, with more than $1.5 billion

Checkout.com is the latest payments company to receive a special-purpose banking charter in Georgia. The payments processor said in a press release that it was approved for a merchant acquirer limited purpose bank charter. Conditional approval includes certain stipulations that must first be met. “Securing the charter allows Checkout.com to accelerate plans to operate as its own acquirer in the U.S.,” the company said. “This move underscores a significant expansion of