Bangor Savings Bank in Maine is planning to introduce its first suite of credit card products. The $7.4 billion-asset Bangor Savings is set to launch “everblue” for retail and commercial clients, Bob Montgomery-Rice, the bank’s president and CEO, told the Bangor Daily News. Business credit cards are set to debut, while consumer cards will launch in July. The product is the latest expansion move for Bangor Savings. The bank has

While the Fed approved a branch application by Vantage Bank Texas in San Antonio, a member of its board raised questions about the review process. The $3.5 billion-asset Vantage was seeking permission to open a location in Houston. At least two commenters objected, claiming that Vantage had discriminatory lending practices. Despite unanimous board support,Fed Gov. Michelle Bowman said process improvements are needed. “I support the approval of this application,” she

The Federal Reserve has approved an application by Banco de Reservas de la República Dominicana in Santo Domingo, Dominican Republic, to open representative offices in New York and Miami. The $18.5 billion-asset Banreservas is the biggest commercial bank in the Dominican Republic. The bank is 100% owned by the Dominican Republic. The offices would act as liaisons with the bank’s current and prospective U.S. clients. They would also promote and

Coastal Financial in Everett, Wash., has created a virtual world to promote its Banking-as-a-Service fintech partners. The $3.5 billion-asset company launched Coastal World, an immersive 3D web platform that “promotes, educates, and informs visitors about digital banking solutions that best fit their lifestyle, values, or specific financial situations through a fun and engaging online experience.” The company is considering a number of features in the future, including banking tools, gamified

What once was old is new again. TIAA Bank in Jacksonville, Fla., will revert back to EverBank after a group of investors buys the $38.6 billion-asset bank from TIAA. TIAA Bank Field, where the NFL’s Jacksonville Jaguars play, will rebrand as EverBank Stadium for next season. “The EverBank brand has always represented forward-looking optimism, confidence and trust,” TIAA Bank President and CEO Steve Fischer said in a press release. “Our

Piedmont Financial Holding in Winston-Salem, N.C., has agreed to buy Wake Forest Bancshares in Wake Forest, N.C. The parent of the $1.2 billion-asset Piedmont Federal Savings Bank said in a press release that it will pay $36.8 million for the parent of the $118 million-asset Wake Forest Federal Savings and Loan Association. The transaction is expected to close during the fourth quarter. Piedmont will cash out Wake Forest Federal’s minority

Cullen/Frost Bankers in San Antonio plans to double its branches in Austin, Texas, by 2026. The $51.2 billion-asset company said in a press release that it expects to hire 170 people as part of the expansion. The bank already has 17 branches in Austin. Frost Bank has already expanded in Houston and Dallas, where year-to-date customer growth is 25% higher than a year earlier. “We have been looking forward to

First Foundation in Dallas prevailed in a proxy battle with an activist investor.   The $13.6 billion-asset company said in a press release that shareholders elected its 10 candidates during this year’s annual meeting. The release did not break down vote totals.   Driver Capital Management had nominated Allison Ball, a partner at Hanover Technology Investment Management, to vie for a board seat.   “We would like to thank all