Stripe, through its Bridge subsidiary, has received conditional approval from the Office of the Comptroller of the Currency for a national trust bank charter. The application, filed in October, was approved on Feb. 12. The license will allow Bridge to issue stablecoins, custody digital assets and offer stablecoin reserve management. The charter “positions Bridge to help enterprises, fintechs, crypto businesses, and financial institutions build with digital dollars inside a clear

A group in Florida has received conditional approval to open a bank. Organizers of the proposed Portrait Bank in Winter Park were approved by the Federal Deposit Insurance Corp. on Feb. 5. The group, which applied in August, must raise nearly $28 million before opening the bank.

First Northern Bank in Dixon, Calif., bought Beacon Wealth Strategies. The bank said in a press release that the acquisition was made by its First Northern Advisors division. The price wasn't disclosed. Tom Cicchini, who owned Beacon, joined First Northern. He is set to retire on June 30. Beacon "has built a reputation for providing thoughtful, personalized guidance to its clients,” Jeremiah Smith, the bank's president and CEO, said in

Forbright in Chevy Chase, Md., is planning its initial public offering. The holding company of the $7.7 billion-asset Forbright Bank, founded by former Rep. John Delaney, said in a press release that it submitted a confidential draft registration statement, setting the stage for the IPO. The number of shares to be sold and the price range have not yet been determined. The registration statement should become effective after the completion

Citizens Financial Group in Providence, R.I., agreed to buy substantially all the assets of Matrix Capital Markets Group, an advisory firm focused on the downstream energy and convenience retail sector. Citizens said in a press release that Matrix, which is based in Richmond, Va., also has expertise in the automotive aftermarket and outdoor recreation and marine sectors. Since 2021, Matrix has completed more than 70 M&A transactions. “Clients view Citizens

Greenfield Savings Bank in Massachusetts has its next CEO lined up. The bank said in a press release that Peter Albero will also become president when Thomas Mesako retires later this year. Albero, who joined the bank in September 2023, is the chief financial officer and treasurer. “Over the next few years, we’ll focus on leveraging technology and working more efficiently to enhance profitability and drive growth," Albero said in

AtlasClear, a fintech that offers a next-gen back-end financial stack, has agreed to buy Commercial Bancorp in Pine Bluffs, Wyo., through a share repurchase agreement. The fintech said in a press release that it will buy all of the shares of the Commercial Bancorp, the holding company for $31.4 million-asset Farmers State Bank, with 73% stock consideration. “This updated structure reflects where AtlasClear is today as a public company,” John

Miami Savings Bank in Miamitown, Ohio, has agreed to buy New Foundation Savings Bank in Cincinnati. The $132 million-asset Miami Savings expects to buy the $18 million New Foundation in the second quarter. Financial details were not disclosed. “The combining of our two institutions will provide more benefits, financial products and opportunities for New Foundation’s customers,” Derrick Taylor, Miami Savings' president and CEO, said in a press release. Vorys, Sater, Seymour