Banks in Alabama and Virginia have raised capital through private placements. First Southern Bancshares in Florence, Ala., brought in $7 million through a May 22 private placement, according to data compiled by Performance Trust Capital Partners. First Southern Bank has $554 million of assets. ODNB Financial in Tysons Corner, Va., raised $1 million on May 30. ODNB is the parent of the $1.1 billion-asset Old Dominion National Bank. The report

Five Star Bancorp in Rancho Cordova, Calif., will enter San Francisco after hiring a commercial team from Signature Bank. The $3.4 billion-asset company said in a press release that DJ Kurtze will serve as region president for the San Francisco Bay Area. The release did not say how many lenders are on the team it hired. Kurtze previously served as a group director at Signature, according to his LinkedIn profile.

Essa Bancorp in Stroudsburg, Pa., will pay about $3 million to resolve redlining claims. The Justice Department said in a press release that the $2 billion-asset company’s bank agreed to a consent order addressing allegations it engaged in lending discrimination towards majority Black and Hispanic neighborhoods. The claims covered a period from 2017 to 2021. “This resolution makes clear our commitment to holding banks and financial institutions accountable for modern-day

Central Bancshares in Muscatine, Iowa, has agreed to buy McLaughlin Holding Co. in Moline, Ill. Central, the parent of the $1.1 billion-asset CBI Bank & Trust, said in a press release that it expects to buy the parent of the $341 million-asset SENB Bank in the third quarter. The price wasn’t disclosed. The systems conversions are expected to take place next year. “We are excited to partner with SENB Bank,”

The Federal Reserve ordered Silvergate Capital in La Jolla, Calif., to stick to its plan to liquidate itself. The Fed’s May 23 consent order gave the company 10 days to submit a self-liquidation plan that complies with California and federal requirements for shutting down. The order also requires quarterly reports on management’s progress. The order also bars Silvergate from destroying records and instructed bank executives to cooperate fully with an

A group in Los Altos, Calif., is looking to form a bank. Organizers of the proposed Entrust Bank filed an application on May 15 with the Federal Deposit Insurance Corp. for deposit insurance. The application wasn’t immediately available. A public notice tied to the application lists seven organizers: Steven Chang, Jinsong Guo, Sanjeev Khagram, Shih-Wei Peng, John Rossell, Mark Tribbitt and Victoria Viso. Entrust would be a state-chartered bank. Chang

BOK Financial in Tulsa, Okla., is apologizing for an issue that has delayed direct deposits and electronic payments. The $45.5 billion-asset company said in a Facebook post on Thursday that a third-party vendor suffered an outage. “We are working to get all systems back up and running as quickly as possible, and appreciate your patience in the meantime,” the post said. “Please note, these issues are impacting multiple financial institutions

Republic First Bancorp in Philadelphia announced a series of moves designed to trim expenses. The $6.2 billion-asset company said in a press release that the effort is expected to accommodate evolving customer preferences, better leverage technology and realize cost and operating efficiencies. Republic First said it will reduce hours at its branches, close a branch on Market Street in Philadelphia and eliminate “redundant or unnecessary” positions in its retail banking