Robinhood Markets has agreed to buy X1, a San Francisco platform that offers a no-fee credit card with rewards. Robinhood said in a press release that it will pay $95 million in cash in a move that should help it expand its product offerings and deepen relationships with existing customers. The deal is expected to close in the third quarter. The acquisition “will bring us closer towards our goal of

The Securities and Exchange Commission does not plan to pursue an enforcement action against Sterling Bancorp in Southfield, Mich.   The $2.4 billion-asset Sterling said in a press release that a letter from the SEC stated that an investigation of the company had ended.   Sterling had previously disclosed that it believed the probe was tied to accounting, financial reporting and disclosure matters and internal controls associated with its defunct Advantage

Citizens Financial Group in Providence, R.I., will work with Wisetack, an embedded pay-over-time platform, to expand its point-of-sale operations. Wisetack said in a press release that Citizens Pay will offer pay-over-time options for home services projects through a network of merchants and SaaS integrations. Customers who apply through Wisetack will be eligible for installment financing through Citizens Pay. “Since inception, Wisetack has made paying over time as easy and seamless

Greater Nevada Credit Union in Carson City will soon have a new CEO. The $1.7 billion-asset credit union said in a press release that Danny DeLaRosa will also become president on July 1. He will succeed Wally Murray, who has led Greater Nevada since October 2000. DeLaRosa, who joined the largest credit union in 2019, is its chief experience officer. He previously served as chief sales officer at Vibrant Credit

Two leading proxy advisory firms have taken opposing positions in a battle between First Foundation in Dallas and an activist investor. Glass Lewis issued a report encouraging shareholders to vote for Allison Ball, who was nominated by Driver Capital Management to stand for election to the $13.6 billion-asset First Foundation’s board. Ball is a partner at Hanover Technology Investment Management. Ball's technology background could benefit First Foundation "given the evolution

Beacon Business Bank in San Francisco has a new president and CEO. Steve Andrews shared his appointment on his LinkedIn profile. Andrews was president and CEO of the California Bankers Association from May 2019 to November 2022. Andrews succeeded Tony Clifford, who had held the top posts at the $158.3 million-asset bank since November 2021.

Commercial BancGroup in Harrogate, Tenn., raised $2.8 million. The parent of the $1.8 billion-asset Commercial Bank completed a private placement on June 15, according to data compiled by Performance Trust Capital Partners. The data did not include information on the pricing or the investors.

The management team of SVB Securities has reached an agreement to buy the health care investment bank from SVB Financial. The team, led by CEO Jeff Leerink and financial backing from The Baupost Group, will rebrand the business as Leerink Partners. “The management team and I are excited to return to our heritage of owning and leading the premier healthcare investment bank and relaunching the business under the trusted Leerink