HomeStreet in Seattle rejected an unsolicited offer to buy its Fannie Mae delegated underwriting and servicing (DUS) license. The $9.5 billion-asset company recently received a nonbinding offer to acquire the license, along with its $32 million loan servicing portfolio, for $57 million, Chairman and CEO Mark Mason divulged in a letter to shareholders.   HomeStreet’s board and management “analyzed the DUS purchase proposal and determined that the price proposed was

An investor group is looking to buy First State Bank of Decatur in Michigan. A group led by Gregg Bigger has applied to buy the $54 million-asset bank, according to the Traverse Ticker. They plan to rebrand First State as Grand Traverse State Bank. The group must raise $14.5 million by early November to move forward, the publication said. The goal is to purchase and rebrand First State by late

Dutch neobank bunq BV has applied to open a bank in the U.S. The bank applied with the Federal Deposit Insurance Corp. on Thursday for deposit insurance for bung US Bank, which would be based in New York. Bunq, which applied for a U.S. bank license earlier this year, would be regulated by the Office of the Comptroller of the Currency. The application, which wasn’t immediately available, comes two months

Plains State Bank in Humble, Texas, bought a wealth management and tax business. The $780 million-asset bank said in a press release that it bought Core+ Financial Strategies and Core+ Tax Strategies. The pricing wasn’t disclosed. "The principals at Core+ have been helping clients with investment planning for many years," Lori Hilman, Plains State’s president and chief operating officer, said in the release. "It just made sense that this was

Republic First Bancorp in Philadelphia will delay its 2022 annual meeting again. The $6.2 billion-asset company disclosed in a regulatory filing that its board moved the meeting from Oct. 5 to Dec. 19. The annual meeting was originally scheduled January after an investigation into certain third-party transactions kept the board from setting a date. A court blocked shareholders from electing directors, leading to another delay. The board then decided to

Cape Cod 5 in Hyannis, Mass., and Fidelity Bank in Leominster, Mass., are merging under the same holding company. The $5.5 billion-asset Cape Cod 5 and the $1.5 billion-asset Fidelity said in a press release that they will operate independently as part of Mutual Bancorp. The mutuals have a combined total of 39 branches. Matt Burke, Cape Cod 5’s chairman and CEO, will have the same titles at Mutual Bancorp.

Central Plains Bancshares in Grand Island, Neb., and SR Bancorp in Bound Brook, N.J., are progressing with their mutual conversions. The $438 million-asset Central Plains said in a press release that it completed the subscription offering for its mutual-to-stock conversion. Given “sufficient orders,” Central Plains said a community offering or syndicated offering isn’t necessary. Separately, the $1.1 billion-asset SR Bancorp closed its mutual-to-stock conversion, as well as its acquisition of

Atlantic Union Bankshares in Richmond, Va., has sold 27 properties in Virginia as part of a sale-leaseback transaction. The $20.6 billion-asset company disclosed in a regulatory filing that it sold 25 branches, a drive through and a parking lot to an affiliate of Blue Owl Capital for $45.8 million. Atlantic Union agreed to lease the properties for an initial 17-year period, with renewal options. The rent can increase by 1.5%