Mid Penn Bancorp in Harrisburg, Pa., bought Cumberland Advisors, an investment adviser in Sarasota, Fla. The $6 billion-asset Mid Penn did not disclosed the price it paid for the firm, which has about $3.2 billion in assets under management. “Cumberland has built a strong reputation for excellence and is the ideal choice to help us continue our legacy of delivering exceptional financial solutions while maintaining a strong commitment to customer

Horizon Bank in Michigan City, Ind., has agreed to sell a branch in Charlevoix, Mich., to 4Front Credit Union in Traverse City, Mich. The application was recently filed with the Federal Deposit Insurance Corp. The branch had $18.6 million of deposits as of June 30, according to FDIC data. The purchase price wasn't disclosed. “We are pleased to have Horizon Bank’s Charlevoix customers and employees join 4Front Credit Union,” 4Front

Capital Bancorp in Rockville, Md., has a new bank president. The $3.4 billion-asset company said in a press release that Steve Poynot, its president and chief operating officer, had become CEO of Capital Bank. Ed Barry remains the company's CEO under a new employment agreement that lasts until December 2027. “Our long-term growth strategy is built around creating a diversified financial services enterprise comprised of a core commercial bank and

OceanFirst Financial in Red Bank, N.J, has agreed to buy Flushing Financial in Uniondale, N.Y. The $14.3 billion-asset OceanFirst said in a press release that it will pay $579 million in stock for the $8.9 billion-asset Flushing. The deal, which is expected to close in the second quarter, priced Flushing at 80% of its tangible book value. OceanFirst also plans to raise $225 million by selling securities to affiliates of

Alerus Financial in Grand Forks, N.D., restructured its securities portfolio. The company said in a press release that it sold $360 million of securities, or more than two-thirds of its available-for-sale securities, at a $68.5 million pretax loss. Alerus reinvested the proceeds into higher-yielding securities. “Our focus in 2025 was to lower risk and improve returns without compromising our long-term strategy," Katie Lorenson, the company's president and CEO, said in

Credicorp, Peru's biggest bank, has agreed to buy Helm Bank USA in Miami. Credicorp said in a press release that its Banco de Crédito del Perú unit will pay $180 million for the $1.1 billion-asset Helm Bank. “This acquisition allows us to deepen our ability to serve Latin Americans whose financial lives span both their home countries and the United States,” Gianfranco Ferrari, Credicorp's CEO, said in the release. “We believe

Alpine Banks of Colorado in Glenwood Springs has a new CEO. The $6.8 billion-asset company said in a press release that Glen Jammaron had also become its chairman. Jammaron, who was president and vice chairman, succeeds Bob Young, who passed away on Dec. 11. “I am honored to continue the incredible legacy that Bob built for Alpine Bank,” Jammaron said in the release. “We anticipate that our focus will remain

Joe Face is set to retire as Commissioner of Virginia's Bureau of Financial Institutions. Face, who took over the role in 1997, will step down next month. Dustin Physioc, who has nearly two decades of experience with the bureau, will succeed Face on Jan. 25.