Dime Community Bancshares in Hauppauge, N.Y., hired four deposit-focused groups from the failed Signature Bank.   The $13.8 billion-asset company did not disclose how many bankers it hired or where the groups are located. New York Community Bancorp bought most of Signature after it was closed by regulators.   “The recent disruption in our marketplace caused by the failure of a local competitor has provided a significant opportunity for Dime

Movement Bank in Danville, Va., has a new president. Mike Whitehead announced his promotion on his LinkedIn profile. Whitehead, who joined the $148 million-asset bank in 2017 from BNC Bank, had served as a senior vice president. He was president and CEO of Randolph Bank & Trust from 2008 to 2013. Movement Bank was formed when Casey Crawford, CEO of Movement Mortgage, bought a majority stake in the former First

First Foundation in Dallas has reached an agreement with an activist investor to end litigation tied to director nominations. The $13.6 billion-asset company said in a press release that a settlement agreement with Driver Management will allow the investor to nominate Allison Ball to run for a board seat at this year’s annual meeting. The parties also agreed to a series of governance practices tied to the nomination of future

Bancorp 34 in Scottsdale, Ariz., has agreed to buy CBOA Financial in Tucson, Ariz. The $576 million-asset Bancorp 34 said in a press release that it will pay $28 million in stock for the parent of the $370.3 million-asset Commerce Bank of Arizona. The deal is expected to close in the fourth quarter. “This is an exciting combination that will accelerate both companies' strategic goals by enhancing our ability to serve

Eastern Bankshares in Boston reported a large quarterly loss after a major restructuring of its balance sheet. The $22.7 billion-asset company said in a press release that it lost $194.1 million in the first quarter after it sold $1.9 billion of securities at a $280 million loss. Proceeds from the sale were used to increase cash levels, which totaled $2.1 billion on March 31. “Eastern deployed excess liquidity into the

Hanover Bancorp in Mineola, N.Y., has a new president. The $2.1 billion-asset company said in a press release that Mac Wilcox had succeeded Brian Finneran, who retired in February. Wilcox joined Hanover in May 2021 after the company bought Savoy Bank, where he was president and CEO. He has been serving as Hanover’s chief lending and revenue officer. Wilcox will be responsible for the company’s digital, product and niche lending

MidWestOne Financial Group in Iowa City reported a sharp drop in profitability after repositioning its balance sheet. The $6.4 billion-asset company also announced a three-year strategic plan designed to improve efficiency and returns. MidWestOne’s net income fell by 90% from a year earlier, to $1.4 million. The company sold $231 million of securities in late February at a pretax loss of $13.2 million. The $220 million of proceeds were used

Hawthorn Bancshares in Jefferson City, Mo., will soon have a new CEO. The $1.9 billion-asset company said in a press release that Brent Giles will also become CEO of its bank on May 1. Giles previously served as president and CEO of Blue Valley Bank. Gregg Bexten, regional president of the bank’s central region, will become Hawthorn’s president. Bexten joined Hawthorn in 1998. Giles and Bexten will succeed David Turner,