First Citizens BancShares in Raleigh, N.C., has added a former Bank of America executive to its board. The $200 billion-asset company said in a press release that David Leitch will become a director on Jan. 1. He will serve on the audit committee and the compensation, nominations and governance committee. Leitch was global general counsel at Bank of America from 2016 to 2021 and the company’s vice chairman from 2021

The Federal Deposit Insurance Corp. has formed a new venture as part of its plan to sell commercial real estate loans once held by the failed Signature Bank. The FDIC receivership said in a press release that it created SIG CRE 2023 Venture, selling a 20% equity stake in the limited liability corporation to Hancock JV Bidco, an entity indirectly controlled by Blackstone and other investors. The investor group paid

CU Digital One, a credit union service organization focused on fintech investments, has landed another credit union investor. The $820 million-asset Zeal Credit Union in Livonia, Mich., will invest $5 million in the CUSO in a transaction expected to close in the first quarter. The investment “aligns perfectly with our commitment to providing the best possible experience for our members,” "Julie Kreinbring, Zeal’s CEO, said in a press release. “We

Stephen Gordon is ready to become a bank acquirer – again. Genesis Bank in Newport Beach, Calif., where Gordon is chairman and CEO, said in a press release that has secured about $500 million in capital commitments to buy and recapitalize banks in the western United States. The $173 million-asset minority depository institution, which opened in 2021, would only draw upon the capital if it received regulatory and shareholder approvals

GBank Financial Holdings in Las Vegas has agreed to buy BankCard Services. The $729 million-asset GBank said in a press release that it will pay $10 million in stock for the cashless payments company, which will operate as a unit of the bank and bolster its gaming fintech division. The acquisition, which is set to close in the second quarter, is expected to be immediately accretive to GBank's earnings per

First Community in Lexington, S.C., has given its bank president added duties.   The $1.8 billion-asset company said in a press release that Ted Nissen will become CEO of First Community Bank on Jan. 1. Nissen, who will also join First Community’s board, will add responsibility for mortgage and financial planning.   First Community also said that Drew Painter and Vaughan Dozier Jr. will become co-chief commercial and retail banking

The Independent Community Bankers of America has selected six companies to participate in its first ICBA ThinkTECH Accelerator program of 2024. The ICBA said in a press release that the program will focus on fintechs that handle analytics, automation and compliance. The companies will participate in a 10-week program that begins on Jan. 8. The selected companies are: Azimuth: Provides improved automated full-population compliance testing Conductiv: Collects more lending and

CB Financial Services in Washington, Pa., has repositioned its securities portfolio. The $1.4 billion-asset company said in a press release that it sold $79.4 million of securities at an after-tax loss of $8 million. The bank bought $69.3 million of higher-yielding mortgage-backed securities and collateralized mortgage obligations issued by U.S government-sponsored agencies. The moves should add $1.8 million to annual after-tax earnings. It should take a little more than four