Icon Business Bank has opened in Riverside, Calif. The de novo opened on Aug. 22, according to the Federal Deposit Insurance Corp. Organizers received conditional approval from the FDIC in late January. They were required to raise $22.7 million before opening the bank. Carpenter Acquisition Corp. applied with the FDIC in May 2022 to form Icon, which operates as a unit of Icon Bancorp. Icon’s plan included branches in Riverside,

Citizens National Bank of Bluffton in Ohio said its CEO will retire. The $981 million-asset bank said in a press release that Michael Romey will step down by the end of this year. Romey joined the bank as president and CEO in 1986. Romey stepped down as president in 2019. “Mike led CNB through many years of record-breaking growth and introduction to new technology for our customers,” President Eric Faulkner

High-profile bank failures weighed down the banking industry’s aggregate profitability, according to the Federal Deposit Insurance Corp.’s quarterly banking profile. Overall profit fell by 11.3% in the second quarter from a quarter earlier, to $70.8 billion. The FDIC said that net income would have been flat when excluding the impact of the failures of Silicon Valley Bank, Signature Bank and First Republic Bank. "Despite the period of stress earlier this

Dime Community Bancshares in Hauppauge, N.Y., has formed a health care banking division. The $13.8 billion-asset company said in a press release that it had hired Daniel Csillag as group head of the newly formed group. He is responsible for building out the health care commercial banking business in the long-term care space. Csillag previously served as group head of health care at Bank Leumi, which was acquired by Valley

Leader Bank in Arlington, Mass., has hired a former First Republic Bank executive to build a startup banking division.   The $4 billion-asset bank hired Vitaliy Schafer as director or venture capital, private equity and technology banking to oversee a push for tech and VC clients. Schafer was a managing director at First Republic, which failed in April.   “This is something we’ve been wanting to do for about five

Ashton Ryan Jr., former CEO of the failed First NBC Bank, was sentenced to serve 14 years in prison after being convicted of dozens of counts of bank fraud, conspiracy and related charges. Ryan, who was found guilty of 46 charges in February, will also pay more than $214 million in restitution, according to NOLA.com. While expected to surrender to authorities on Nov. 6, Ryan’s lawyer said he plans to

First Western Bank & Trust in Minot, N.D., has applied to acquire an insurance agency in Lismore, Minn.   The $2 billion-asset First Western submitted an application on Sept. 1 with the Federal Deposit Insurance Corp. to buy Lismore State Agency.   The deal is structured as a purchase and assumption agreement.

The Federal Deposit Insurance Corp. plans to market $33 billion of commercial real estate loans that were held by the failed Signature Bank in New York. The loans, which the FDIC retained after regulators closed Signature in March, are largely secured by apartments in the New York area.  The FDIC said it is setting up joint ventures to market about $15 billion of loans secured by rent-stabilized or rent-controlled units