The Georgia Bankers Association will soon have a new CEO. The association said in a press release that Tripp Cofield will succeed the retiring Joe Brannen on July 15. Cofield is president and CEO of the association’s affiliates GBA Insurance Trust, Paragon Benefits and GBA Retirement Services. He will join the association’s board in conjunction with his appointment. Cofield’s “thoughtful and intelligent approach to solving complex problems, complemented by his

FineMark Holdings in Fort Myers, Fla., raised $30 million through a private placement. The $4.1 billion-asset company sold common stock on March 29, according to data compiled by Performance Trust Capital Partners. Performance Trust had no additional details about the private placement.

Mode Eleven Bancorp in Hulett, Wyo., will voluntarily dismantle its Banking-as-a-Service platform after being hit with an enforcement action from the Federal Reserve. The parent of the $110 million-asset Summit National Bank entered into a cease-and-desist order with the Fed on March 28. The order barred the bank from engaging in "expansionary activities related to the fintech business strategy” without written Fed approval. Those activities include creating new subsidiaries, business

The new leader of New York Community Bancorp is making the case for shareholders to back steps needed to fully recapitalize the Hicksville company. Joseph Otting, a former Comptroller of the Currency, said in a regulatory filing that addressing the $114 billion-asset company’s issues will not occur overnight – but it is doable. “We understand that regaining your trust and confidence will take time and consistent results,” he said in

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