West Iowa Bank in West Bend has agreed to buy Home State Bank in Royal, Iowa. The $162.4 million-asset West Iowa Bank said in a press release that the $56.6 million-asset Home State will operate independently after the deal closes. The price wasn't disclosed. "This agreement allows us to expand our community banking model into Royal while preserving the relationships and trust Home State Bank has built over generations," Keith

Axos Financial in Las Vegas has agreed to buy the consumer deposits of Jenius Bank from Sumitomo Mitsui Financial Group. The Japanese bank recently announced plans to shut down its digital-only bank. Axos disclosed in a regulatory filing that it will gain about $2.6 billion of deposits. The deal is expected to close by April 2026.

First National in Strasburg, Va., is closing three branches and selling two more, reducing branch count by 15%. The company said in a press release that it will sell locations in Roanoke Rapids and Louisburg, in North Carolina. The branches had $53 million in deposits at mid-2025, based on data compiled by the Federal Deposit Insurance Corp. The company did not disclose the locations of the branches it plans to

PennyMac Financial Services has agreed to buy the subservicing business of Cenlar Capital. PennyMac said in a press release that it will pay $172.5 million in cash upfront, along with up to $85 million of performance-based payments, for subservicing contracts and mortgage servicing operations. Based on Cenlar’s existing portfolio, Pennymac expects to add up to $740 billion in unpaid principal balance of mortgage loan subservicing and 2 million loans to

Grab, a Southeast Asian tech company, has agreed to buy Stash Financial, a U.S. digital financial services company. Grab, which operates similarly to Uber, will initially buy a 50.1% stake in Stash that values the seller at $425 million. It will buy the remaining stake over a three-year period determined by Stash’s market value over time. The initial payment will involve cash and stock, which could be the case for

Rhinebeck Bancorp in Poughkeepsie, N.Y., will pursue a second-step conversion to become a fully stock-owned company. Rhinebeck said in a press release that its mutual holding company owns about 57% of the company's shares outstanding. The company will sell the MHC's ownership interest to depositors and others in a subscription offering. Depositors as of Dec. 31, 2024, will have first priority non-transferable subscription rights. The conversion is expected to be

Upstart Holdings has set the stage for a new CEO. The fintech said in a press release that Paul Gu, a co-founder and chief technology officer, will succeed Dave Girouard on May 1. Girouard will remain chairman. Upstart also said that Sanjay Datta, who had been chief financial officer, had become its president and chief capital officer. Andrea Blankmeyer will succeed Datta as CFO on March 16; she was CFO

Array has acquired Chimney, a New York fintech known for its modern financial calculators and home value tracking tools. Array, an embeddable platform, said in a press release that the acquisition will accelerate its ability to add financial decision tools to its platform. The price wasn't disclosed. “Integrating Chimney’s innovative engagement features into Array’s ecosystem enables our clients to deliver even richer experiences that support consumers at critical decision moments,”