Cory Montez Hairston, president and CEO of Congressional Federal Credit Union in Oakton, Va., died last week. The $1.2 billion-asset credit union said that Hairston, who became president and CEO in October, died on Aug. 16. He joined the credit union in 2005. “The entire Congressional Federal family mourns this loss,” the credit union said in a statement. “On behalf of our board of directors, management team and employees, we

Edward Jones, which last fall withdrew an application to create a bank, has entered into a strategic partnership with Citigroup to offer checking and savings accounts to its customers. The St. Louis brokerage said in a press release that it will focus on U.S. clients in 2024. It plans to expand into securities-based lending and could add other retail banking products and services. "We are excited to bring our clients

Bank of the West in San Francisco, which sold to Bank of Montreal earlier this year, plans to lay off 248 employees, according to a Worker Adjustment and Retraining Notification filing. The bank plans to cut 203 jobs in its Camino Ramon office and another 45 at its former headquarters at 180 Montgomery St. The cuts are expected to take place by Sept. 15. “We are working closely with affected employees

Farmington State Bank in Farmington, Wash., which is in the midst of selling itself to Bank of Eastern Oregon, was hit with a cease-and-desist order from regulators. The Fed said in a press release that the $22 million-asset bank “improperly changed its business plan without notifying … supervisors and obtaining prior approval for those changes.” The Fed said its action ensures that the wind down will occur in a way

Ivy Bank, the digital-only platform created by Cambridge Savings Bank in 2021, has surpassed $530 million of deposits. The $6 billion-asset bank said in a press release that the platform has more than 6,600 customers two years after its launch. “Our mission has always been to treat every customer like our only customer, and with Ivy Bank, we’ve extended that approach to consumers nationwide,” Katie Catlender, the bank’s chief customer

Silvergate Capital in La Jolla, Calif., which is in the midst of voluntarily winding down its operations, announced the departure of CEO Alan Lane. The company disclosed in a regulatory filing that Lane also resigned as president, effective Aug. 15. John Bonino, Silvergate’s chief legal officer, also stepped down. Antonio Martino, the company’s chief financial officer, is leaving on Sept. 30. Lane, Bonino and Martino are not entitled to any

Vista Bank in Dallas has hired a team from Professional Bank to oversee its expansion into Florida. The $2 billion-asset bank said in a press release that it hired six bankers: Michael Woody, Mandi Friedman, Steven Quinn, Melissa Norman, Cindy Rey and Jill Garic. Each worked at Professional with Dan Sheehan, who is Vista’s president. Professional sold to Seacoast Banking Corp. of Florida in January. "Having this team join me in launching Vista's entrance into South

Stock Yards Bancorp in Louisville, Ky., will have a new head of wealth management in 2024. The $7.7 billion-asset company said in a press release that Kathy Thompson will retire as director of its wealth management and trust group on Jan. 2. She will be succeeded by Shannon Budnick, who is managing director of investments. “Shannon’s appointment is a natural progression of our succession planning and facilitates a seamless transition