Silicon Valley Bank filed a lawsuit against Patriot Bank in Stamford, Conn., over roughly $21 million in charge card receivables from Parker, a failed small business fintech that shut down abruptly in May 2026. The dispute, filed by the First Citizens BancShares division in U.S. District Court for the Southern District of New York in early May, hinges on who owns receivables generated between April 21 and May 4. The

Cornerstone Community Bank has opened in Owensboro, Ky. Organizers raised the $20 million in initial capital that the Federal Deposit Insurance Corp. required when it gave conditional approval in February. The application was submitted in August. Kyle Aud, a former market president at German American Bank, is CEO. Jonathan Lawson, a former chairman and president of Bank of Ohio County, which sold to First United Bank in 2016, and Steven

Titan, a fintech that helps financial institutions with the security, explainability, and domain expertise challenges with artificial intelligence, raised $3 million in new funding. Titan said in a press release that the funding round, led by Entropy Ventures, will support hiring as the fintech expands and builds banking‑native AI infrastructure. The fintech emerged from stealth in October 2025. Titan is Entropy Ventures Fund I’s inaugural investment. “Banking is one of

Truist Financial in Charlotte, N.C., added a heavy hitter to its board. The company said in a press release that Cathy Bessant had become a director and will serve on its risk committee. Bessant, who recently served as CEO of Foundation for the Carolinas, was a long-time Bank of America executive. She retired as BofA's vice chair of global strategy and a member of the executive management team.

Farmer Mac lines up its next CEO. The agricultural secondary market provider said in a press release that Zachary Carpenter will take on the role on July 1. Carpenter, who is president and chief operating officer, will succeed Bradford Nordholm. Nordholm, who is retiring, will become a senior advisor to the CEO. “The board has been very pleased with the thoughtful, cooperative, and seamless handoff between Brad and Zack over

Popular in San Juan, Puerto Rico, is dealing with a cybersecurity incident tied to its third-party core financial transaction processing and IT services provider. The company disclosed in a regulatory filing that the incident at Evertec included personal data of certain customers, including debit card numbers and other information. Popular implemented enhanced fraud monitoring measures to further protect customers. Popluar noted that it has a contractual right to be covered

First Carolina Financial Services in Raleigh, N.C., aims to raise $82.5 million from its planned initial public offering. The $3.4 billion-asset company disclosed in its prospectus that it plans to sell 5.5 million shares of common stock at a price range of $14 to $16 a share. Net proceeds could be deployed in several ways, including organic growth, acquisitions, refinancing debt, and working capital. The company raised $45 million in

OceanFirst Financial in Red Bank, N.J., agreed to sell a portfolio of multifamily loans as part of a balance sheet repositioning. The $23 billion-asset company said in a press release that it will sell $1.4 billion in loans, representing the majority of the multifamily loans it inherited when it bought Flushing Financial, to an unnamed buyer. The sale eliminated the majority of the bank’s exposure to rent-regulated properties in New