Glacier Bancorp in Kalispell, Mont., has agreed to buy Community Financial Group in Spokane, Wash. The $28 billion-asset Glacier said in a press release that it will pay $80.6 million in stock for the $754 million-asset parent of Wheatland Bank. The deal, which is expected to close in the fourth quarter, valued the seller at 161% of its tangible book value. The acquisition would be the 13th for Glacier over

Carver Bancorp in New York is looking for a new CEO.   The $723.2 million-asset company said in a press release that Michael Pugh will also step down as president on Sept. 30 to “pursue professional and philanthropic interests on a national level.”   Carver will conduct a national search for a successor. No interim leaders were announced.   Pugh joined the bank in 2012, becoming president and chief operating

The National Credit Union Administration approved 36 mergers in the second quarter, including seven designed to address challenges filling CEO or board positions. The NCUA approved 33 mergers during the first quarter and 35 combinations a year earlier. Three mergers approved in the first quarter were meant to address succession issues. The agency said that 26 of the mergers were announced to allow credit unions to expand services. The biggest

OceanFirst Financial in Red Bank, N.J., received a “needs to improve” Community Reinvestment Act rating from the Office of the Comptroller of the Currency. The $13.5 billion-asset company’s rating reflects “evidence of discriminatory or other illegal credit practices,” the agency said in a report. While the rating was disclosed last week, the OCC’s public documents are dated Nov. 1, 2021. OceanFirst previously had a “satisfactory” rating. The OCC alleged that OceanFirst “engaged

Androscoggin Savings Bank in Lewiston, Maine, has created a Sharia-compliant mortgage product. The $1.5 billion-asset bank hired Ayesha Baye, an Ethiopian immigrant with extensive banking experience, to serve Muslim customers. It took a year to develop the mortgage program in collaboration with ProsperityME and the Greater Portlan Immigrant Welcome Center. The Halal Mortgage Program helps Muslims who believe that they are barred from accepting conventional mortgages with interest.

Oconee Financial in Watkinsville, Ga., raised about $4.3 million tied to its acquisition of Elberton Federal Savings & Loan in Elberton, Ga. The $588 million-asset Oconee said in a press release that it sold roughly 149,000 shares of common stock at $28.94 each to Elberton Federal depositors and borrowers. The stock offering was oversubscribed. "We are thrilled by the overwhelming interest we received from investors in the offering," Neil Stevens, Oconee’s

Texas State Bankshares in Harlingen has agreed to buy Dallas investment bank Estrada Hinojosa & Co. The $2.6 billion-asset Texas State did not disclose the price it will pay. The deal is expected to close in the fourth quarter. Estrada Hinojosa has 48 employees and offices in cities such as Dallas, Houston, San Antonio, Miami, Chicago and New York. The bank will expand into capital markets with the acquisition. "This is an exciting and well-matched partnership

InBank in Denver has a new president. The $1.3 billion-asset bank said in a press release that Bo Scott had also become its chief commercial banking officer. He succeeded Ed Francis, who remains chairman and CEO of the bank and holding company InBankshares. Scott previously served as an executive vice president at UMB Bank, where he led the Colorado commercial bank. “We are confident Bo will help us accelerate our