New Peoples Bankshares in Honaker, Va., said its CEO will retire next year.   The $794 million-asset company said in a press release that C. Todd Asbury will step down as bank president and CEO on Dec. 1. He will stop serving as the company’s president and CEO on May 31.   Asbury will serve as a senior adviser until mid-2025 and will remain on the board until its 2025

Synovus Financial in Columbus, Ga., is selling more than $1.6 billion of loans. The $60.7 billion-asset company disclosed in a regulatory filing that it sold $316 million of consumer loans, with another $22 million set to sell in the third quarter. The loans, originated by third parties, were sold at a 5.7% loss. Synovus also has an agreement to sell $1.3 billion of medical office commercial real estate loans in

Guaranty Bank and Trust in Belzoni, Miss., has applied to buy First American National Bank in Iuka, Miss. The $1.9 billion Guaranty filed it application to buy the $385 million-asset FANB with the Federal Deposit Insurance Corp. on Aug. 4. The deal, which was announced in late June, is expected to close later this year. “We are excited about joining the Guaranty Bank team as their banking culture maintains the

Glacier Bancorp in Kalispell, Mont., has agreed to buy Community Financial Group in Spokane, Wash. The $28 billion-asset Glacier said in a press release that it will pay $80.6 million in stock for the $754 million-asset parent of Wheatland Bank. The deal, which is expected to close in the fourth quarter, valued the seller at 161% of its tangible book value. The acquisition would be the 13th for Glacier over

Carver Bancorp in New York is looking for a new CEO.   The $723.2 million-asset company said in a press release that Michael Pugh will also step down as president on Sept. 30 to “pursue professional and philanthropic interests on a national level.”   Carver will conduct a national search for a successor. No interim leaders were announced.   Pugh joined the bank in 2012, becoming president and chief operating

The National Credit Union Administration approved 36 mergers in the second quarter, including seven designed to address challenges filling CEO or board positions. The NCUA approved 33 mergers during the first quarter and 35 combinations a year earlier. Three mergers approved in the first quarter were meant to address succession issues. The agency said that 26 of the mergers were announced to allow credit unions to expand services. The biggest

OceanFirst Financial in Red Bank, N.J., received a “needs to improve” Community Reinvestment Act rating from the Office of the Comptroller of the Currency. The $13.5 billion-asset company’s rating reflects “evidence of discriminatory or other illegal credit practices,” the agency said in a report. While the rating was disclosed last week, the OCC’s public documents are dated Nov. 1, 2021. OceanFirst previously had a “satisfactory” rating. The OCC alleged that OceanFirst “engaged

Androscoggin Savings Bank in Lewiston, Maine, has created a Sharia-compliant mortgage product. The $1.5 billion-asset bank hired Ayesha Baye, an Ethiopian immigrant with extensive banking experience, to serve Muslim customers. It took a year to develop the mortgage program in collaboration with ProsperityME and the Greater Portlan Immigrant Welcome Center. The Halal Mortgage Program helps Muslims who believe that they are barred from accepting conventional mortgages with interest.