A unit of WSFS Financial in Wilmington, Del., has bought accounts tied to an investment advisory firm in Rehoboth Beach, Del. Bryn Mawr Capital Management will also gain six associates who worked at Bell Rock Capital, including Jackie Reeves, who will lead the Florida office. Bell Rock founder Cassandra Toroian, who has been fighting legal claims by the Securities and Exchange Commission over her trading practices, will not join the

Three former directors of a failed Chicago bank have pleaded guilty to trying to hide embezzlement from the Office of the Comptroller of the Currency. George Kozdemba, William Mahon and Janice Weston conspired to falsify Washington Bank for Savings’ records shared with the OCC, according to pleas given in U.S. District Court for the Northern District of Illinois. The directors "falsified records to make it appear Washington Federal was operating in compliance

Savile Capital Group, a wealth management firm in Sheridan, Wyo., has agreed to buy Farmers State Bankshares in Cheyenne, Wyo. Savile said in a press release that it expects to buy the parent of the $295 million-asset Wyoming Bank & Trust in 2024. The price wasn’t disclosed. Wyoming Bank & Trust has two branches, $245 million of deposits and $122 million of loans. Jeff Wallace will remain the bank’s CEO.

Riverview Bancorp in Vancouver, Wash., has ended its CEO's employment. The $1.6 billion-asset company, which had placed Kevin Lycklama on paid administrative leave, said in a subsequent press release that its board voted to remove him “without cause.” The termination of employment is effective Sept. 6. Dan Cox, Riverview’s chief credit officer, was named acting president and CEO. A Riverview representative told Banking Dive that Lycklama was terminated due to

Aggressive interest rate hikes by the Federal Reserve led Bancorp 34 in Scottsdale, Ariz., and CBOA Financial in Tucson, Ariz., to temporarily suspend merger discussions. The $574.9 million-asset Bancorp 34 would eventually agree in April to buy the $372.2 million-asset CBOA for $28 million. The banks’ leaders first met in November 2020 and a nondisclosure agreement was signed a month later, according to a regulatory filing tied to the pending

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