Bancorp 34 in Scottsdale, Ariz., has a new leader. The $1 billion-asset company said in a press release that Ciaran McMullen had become its chairman and CEO. McMullen, a veteran bank CEO, succeeded Jim Crotty, who resigned. "We appreciate Jim’s dedication and hard work on behalf of the Company over the past four years, including through the merger with CBOA Financial ... as well as the completion of private placement

Blue Ridge Bankshares in Charlottesville, Va., has completed its capital raise led by Kenneth Lehman and Castle Creek Capital and confirmed that will fully exit its Banking-as-a-Service business by the end of this year. The $3.1 billion-asset company disclosed in a regulatory filing that it raised $150 million by selling common stock, convertible preferred stock, and warrants to buy preferred shares. Blue Ridge said it will use the proceeds to

Reseda Group, a wholly owned CUSO of Michigan State University Federal Credit Union in East Lansing, has invested $6.2 million in eight fintechs. The $7.6 billion-asset credit uni0on said in a press release that its CUSO made new investments CU Lift Fund, direct auto loan funding; CURevl, college planning and education finance; Debbie, personal financial management; Origence, lending technology; Members Mobile (4G/5G mobile phone services for credit union members; and

KeyCorp and the National Community Reinvestment Coalition have reached an agreement to invest $25 million into minority and underserved markets. Jesse Van Tol, the NCRC’s CEO, made the announcement at the organization’s Just Economy conference, starting that the agreement resolves a dispute between the parties. The NCRC had raised concerns in the past about the Cleveland company’s mortgage lending practices The $188 billion-asset Key will provide $17 million to fund

Brim Financial, a Toronto company that sells tech to help banks launch and manage credit card programs, has raised $85 million of Series C funding. The fintech, founded in 2017, said in a press release that the funding round was led by EDC Investments and included Vistara Growth, White Owl Group, Epic Venture and Zions Bank. Brim, which has partnerships with Mastercard and TrueNorth, said the funding will support its

Climate First Bancorp in Orlando, Fla., is planning to raise more capital. The $600 million-asset company said in press release that it will run the capital raise through September. The bank, which opened in 2021 after raising $44 million, will shed its de novo status in June. The bank is looking to raise $100 million, according to the Tampa Bay Business Journal. “This next round will propel us into the

South Ottumwa Savings Bank in Ottumwa, Iowa, has a new president. The $547 million-asset bank said that Natalie Bolin had taken over the position. She has been the bank’s senior vice president of operations and chief financial officer. “Natalie has played a crucial role in the success of South Ottumwa Savings Bank,” Teri Messerschmitt, the bank’s chairman and CEO, said in a press release. “She brings a wealth of knowledge

Cadance Bank has shuffled several high-level executives. The $50 billion-asset bank said in a press release that Hank Holmes, its chief banking officer, is leaving to pursue opportunities tied to entrepreneurship, start-ups and building organizations. Holmes will serve as a special adviser to Billy Braddock, who succeeded him as chief banking officer, until June 30. Braddock was the bank’s chief credit officer. He will be succeeded by Chris Bagley, who