Lakeland Financial in Warsaw, Ind., reported lower second-quarter profit after it fell victim to international wire fraud. The $6.5 billion-asset company said in a press release that its earnings fell by 43% from a year earlier, to $14.6 million. The results included a $13.6 million wire fraud loss, net of tax. Lakeland said it discovered the fraud on June 30. The fraudulent activity resulted from “a highly sophisticated business email

Windsor Federal Savings and Loan in Windsor, Conn., has a new CEO. Luke Kettles also became the $750 million-asset bank’s president following its annual meeting. Kettles succeeded George Hermann, who retired. “I can say it was the best job of my career,” Hermann, who is still serving as executive chairman, said in a LinkedIn post. “I had the privilege of working with a great team,” Hermann added. “The key to

FedNow, the Federal Reserve’s instant-payments system, is live. The Fed said in a press release that 35 early adopting banks and credit unions and the Treasury Department are ready to go. Sixteen service providers are ready to support payment processing. The Fed “built the FedNow Service to help make everyday payments over the coming years faster and more convenient," Fed Chair Jerome Powell said in the release. "Over time, as

Columbia Banking System in Tacoma, Wash., sold some loans and plans to sell some mortgage-servicing rights. The $53.6 billion-asset company said in a press release that it sold $373 million of non-relationship loans and reclassified another $118 million as held for sale. As a result, overall loans fell slightly in the second quarter from a quarter earlier. The company also agreed to sell about a third of its MSR portfolio.

Banks in California and Oklahoma have raised capital through private placements of common stock. First Altus Bancorp, the parent of the $414 million-asset Frazer Bank in Altus, Okla., brought in $2.4 million in capital on July 13, according to data compiled by Performance Trust Capital Partners. Friendly Hills Bancorp, the $393 million-asset holding company for First Pacific Bank in Whittier, Calif., raised about $3.3 million. Performance Trust did not include

Angelo Mozilo, one of the most-recognized faces of the 2008 financial crisis, has died. Mozilo, co-founder and former CEO of Countrywide Financial, died of natural causes at 84, according to a statement from his family foundation. Countrywide rode the subprime wave to become the nation’s biggest mortgage lender. Mozilo received a liftetime achievement award from American Banker in 2006. Bank of America bought the lender in a fire sale in early

Republic First Bancorp in Philadephia, Castle Creek Capital and Cohen Private Ventures have agreed to terminate a $125 million private placement of common stock. The $6.2 billion-asset Republic First said in a press release that current market conditions, particularly tightening of access to equity capital, has made it difficult to find additional investors prior to a Sept. 9 deadline. “We are executing on a clear strategy to address legacy issues

Another group is planning a bank in Houston. Organizers of the proposed Integrity Bank applied with the Federal Deposit Insurance Corp. on June 30. The application wasn’t immediately available. Integrity would be a state savings bank. A legal notice submitted for the planned de novo listed 19 organizers. The organizers are Charles Neff Jr., Hazem Ahmed, John Able, Jamil Baba, Oscar Baker, Eric Calderon, Carol Chiu, Caroline Dwairy, Adel Foteh,