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

All In Federal Credit Union in Daleville, Ala., has agreed to buy SunSouth Bank in Dothan, Ala. The $2.8 billion-asset credit union did not disclose how much it will pay for the $114 million-asset SunSouth. The all-cash deal is expected to close in the first quarter of 2024. SunSouth, a unit of SunSouth Bancshares, has two branches. Mercer Capital and Honigman advised All In FCU. SunSouth was advised by Olsen

Blackhawk Bancorp in Beloit, Wis., attempted to sell itself to another bank before it began negotiating with First Mid Bancshares in Mattoon, Ill. The $6.7 billion-asset First Mid agreed in March to buy the $1.3 billion-asset Blackhawk for $90.3 million. First Mid was one of two banks that Blackhawk’s investment bank contacted last August about submitting bids, according to a regulatory filing tied to the pending merger. First Mid’s proposal,

The Consumer Financial Protection Bureau has ordered OneMain Financial in Evansville, Ind., to pay $20 million to resolve claims the installment lender failed to refund interest charged to 25,000 customers. The CFPB said in a press release that the enforcement action requires OneMain, a unit of OneMain Holdings, to refund $10 million to harmed consumers and pay another $10 million to the bureau’s victims’ relief fund. “OneMain pressured its employees

UMB Financial in Kansas City, Mo., has agreed to buy Hybarger & Associates, a consulting firm focused on community bank performance. The $40.6 billion-asset UMB said in a press release that it expects to complete the acquisition in the second quarter. The price wasn’t disclosed. Hybarger offers advice in areas such as interest rate risk analysis, budgeting and forecasting, bond analytics and market tracking, liquidity and capital analysis, CECL modeling

Coastal Financial in Everett, Wash., has hired a veteran banker to oversee its Banking-as-a-Service platform. Chris Rigoni announced on his Twitter account that he had been named senior director of BaaS operations at the $3.5 billion-asset company. “Looking forward to working with the team to build on an already stellar program,” he tweeted. Rigoni previously served as a senior managing director at Webster Bank. Rigoni is the latest high-profile hire

Republic First Bancorp in Philadelphia will have a new chairman. The $6.2 billion-asset company said in a press release that Andrew Cohen, co-founder and chief investment officer at Cohen Private Ventures, will take over the post tomorrow. Cohen will succeed Harry Madonna, who founded the bank in 1988 and returned to a leadership role with last year’s departure of Vernon Hill II. Madonna will remain on Republic First’s board. The

OneAZ Credit Union in Phoenix has a new CEO. The $3 billion-asset credit union said in a press release that Brandon Michaels had also become its president. He succeeded Kim Reedy, who retired. Michaels previously served as head of corporate development at Allied Solutions. Before that, he was president and CEO of JSC Federal Credit Union and Mazuma Credit Union. “Brandon embodies OneAZ’s mission, vision and values,” Jon Borge, OneAZ’s