Pioneer Bancorp in Albany, N.Y., has acquired Hudson Financial, an advisory firm in Hudson, N.Y. The $1.8 billion-asset Pioneer said in a press release that Hudson has $225 million of assets under management. The price wasn’t disclosed. “Pioneer is committed to providing a wide range of seamless, integrated products and services under one roof that enable people, families, and businesses to achieve their financial goals,” Pioneer President and CEO Tom

Eagle Bancorp in Bethesda, Md., closed two branches and laid off some employees as part of a cost-cutting effort. The $11 billion-asset company said in a press release that it closed locations in the Georgetown neighborhood of Washington, D.C., and Chantilly, Va. The closures should save Eagle $408,000 annually. Eagle now has 13 branches. Eagle also said it implemented a “reduction-in-force” that will help it save $2.4 million in the

Banc of California in Santa Ana has agreed to buy PacWest Bancorp in Beverly Hills, Calif. The companies said in a press release that it the deal is expected to close in late 2023 or early next year. Banc of California said that affiliates of funds managed by Warburg Pincus and certain investment vehicles managed or advised by Centerbridge Partners will pay $400 million for equity securities to be issued

Atlantic Union Bankshares in Richmond, Va., has agreed to buy American National Bankshares in Danville, Va. The $20.6 billion-asset Atlantic Union said in a press release that it will pay $416.8 million in stock for the $3.1 billion-asset American National. The deal, which is expected to close in the first quarter, valued American National at 174% of its tangible book value. “American National is a high-quality community bank with an

Organizers of the proposed Integrity Bank in Houston plan to raise $37 million of initial capital. The group said in its application with the Federal Deposit Insurance Corp. that the planned bank’s holding company, Integrity Bancorp, would conduct a private placement. Integrity, which would operate as a state savings bank, will focus on serving as a small business bank. Eleven of the proposed bank’s organizers will serve on its board.

Bank of Marin Bancorp in Novato, Calif., recently purged securities from its balance sheet. The $4.1 billion-asset company said in a press release that it sold $82.7 million of securities in July at a net loss of $2.8 million. The proceeds will be held in cash as part of the company’s liquidity strategy. The loss will be offset by a $2.8 million gain from selling the company’s remaining Visa Class

BM Technologies in Radnor, Pa., is dealing with regulatory approvals delays for its planned deposits partnership with First Carolina Bank in Raleigh, N.C.   BM Technologies agreed in March to have First Carolina Bank support its higher education business. The regulatory delay is expected to negatively impact the company’s core EBITDA results from $1 million to $1.5 million a month.   The company said that, based on feedback received, it

John Marshall Bancorp in Reston, Va., has sold nearly $162 million of securities at a loss. The $2.4 billion-asset company said it sold lower-yielding available-for-sale investment securities on July 17 at a $13.5 million after-tax loss. It also redeemed $21.4 million of bank-owned life insurance (BOLI) assets – incurring an after-tax loss of $1.1 million as part of the process. John Marshall said the proceeds will be reinvested in higher-yielding