Republic First Bancorp in Philadelphia has reached a truce with an activist investor by involving them in a planned capital raise and reconstituting its board. The $6.2 billion-asset Republic said in a press release that George Norcross III, Gregory Braca and Philip Norcross will invest $35 million in the company. Republic will raise at least $40 million of additional capital from other investors. Republic said it expects to use the

Peoples Financial Services in Scranton, Pa., has agreed to buy FNCB Bancorp in Dunmore, Pa. The $3.7 billion-asset Peoples said in a press release that it will buy the $1.9 billion-asset FNCB for $129 million in stock. The deal is expected to close in the first half of 2024. Peoples will remain headquartered in Scranton, while the bank will be based in Dunmore. The deal is expected to by 59%

Carver Bancorp in New York, one of the nation’s biggest black-run banks, is facing a hostile takeover. Dream Chasers Capital Group, which owns a 5.5% stake in the $712 million-asset Carver, said in a press release that it had offered to boost its stake to 35%. The investor offered $3 a share, a 39% premium to Carver’s closing price on Tuesday. Dream Chasers, a New York-based minority-run investment fund, said it

Former MBNA executive Frank Bramble has died. Bramble, who was executive vice chairman of the monoline credit card company when it was sold to Bank of America in 2006, had a heart attack, according to the Baltimore Sun. He was 75. Bramble was still serving as a director at Bank of America, a post he had held since the banking giant closed on its purchase of MBNA. Bramble’s career included

Washington Trust Bancorp in Westerly, R.I., has reached a settlement with the Justice Department over claims its bank violated fair lending laws. The $7 billion-asset company said in a press release that the settlement addressed violations that allegedly took place between 2016 and 2021. Washington Trust denied the allegations, stating that it entered into the settlement to “avoid the expense and distraction of potential ligation.” Washington Trust agreed to provide

MidWestOne Financial Group in Iowa City has agreed to buy Denver Bankshares a day after agreeing to sell its Florida operations. The $6.5 billion-asset company said in a press release that it will pay $32.6 million in cash for the parent of the $271.5 million-asset Bank of Denver. The deal, which is expected to close in the first quarter, priced Denver Bankshares at 173% of its tangible book value. Bank

River Financial in Prattville, Ala., raised $32.9 million through a private placement of common stock. The $3.1 billion-asset company sold shares to 312 investors on Sept. 12, according to a notice of exempt offering of securities. Performance Trust Capital Partners also reported the offering. The pricing and plans for using net proceeds weren’t disclosed. River recently announced plans to expand in Birmingham, Ala.

MidWestOne Financial Group in Iowa City has agreed to sell its Florida operations to DFCU Financial in Dearborn, Mich. The $6.5 billion-asset MidWestOne said in a press release that the $6.4 billion-asset credit union will pay a 7.5% premium, or $11.9 million, for the transfer of $158.8 million of deposits. The sale also includes two branches and $162.2 million of loans. The deal is expected to close in the second