QED Investors, a venture capital firm in Alexandria, Va., has closed two new funds to invest in fintech firms. QED said in a press release that it has $650 million in capital commitments for Fund VIII, an early stage fund, and $275 million for Growth II, a growth-stage fund. “We are excited, fortunate and privileged to be a steward of our investors’ capital,” Nigel Morris, QED’s managing partner and co-founder,

Gouverneur Bancorp in Gouverneur, N.Y., is planning a second-step conversion to become a fully stock-owned company. The $205 million-asset Gouverneur said in a press release that Cambray Mutual Holding Co. will sell its majority ownership in the company to the public. Depositors with qualifying deposits on Sept. 30 will have first priority subscription rights to obtain stock in the new holding company. Gouverneur expects to gain regulatory approval for the

Fifth Third Bancorp in Cincinnati has acquired Rize Money, an Arlington, Va., embedded payments platform. The $209 billion-asset Fifth Third said in a press release that Rize Money provides payment infrastructure and risk management capabilities to fintechs and other technology companies. The price wasn’t disclosed. Fifth Third said that its embedded payments business is growing at double digits with annual revenue projected to top $130 million this year. The acquisition

JPMorgan Chase in New York projected that net interest income should increase by $3 billion because of its purchase of the failed First Republic Bank. The $3.7 trillion-asset company said in a disclosure in slides for its investor day that it expects to generate $84 billion of net interest income this year. It had previously forecast $81 billion. JPMorgan Chase agreed earlier this month to buy $173 billion of loans,

PacWest Bancorp in Los Angeles has agreed to sell a portfolio of real estate construction loans.   The $44.3 billion-asset company disclosed in a regulatory filing that it will sell 74 loans with an aggregate balance of $2.6 billion to Kennedy-Wilson Holdings. Subject to certain conditions, PacWest will sell six more loans with a total outstanding balance of $363 million.   Kennedy-Wilson said in a separate filing that it will

Adams Bank & Trust in Ogallala, Neb., took its servers offline, disabling transactions using online banking and its mobile app, after being alerted to unusual activity “indicative of a cybersecurity threat.” The $1.3 billion-asset bank disclosed the issue on Tuesday via its Facebook page. The bank said it had hired third-party specialists to assist in investigating the activity and validating the security and integrity of its systems. “While we are

Bank of Marin Bancorp in Novato, Calif., has regained its footing with deposits.   The $4.1 billion-asset company shared in a presentation that it added $14.5 million of deposits between March 31 and May 10. That was a 0.4% increase from the end of the first quarter.   The traction is notable because Bank of Marin’s deposits decreased by $323 million, or 9%, during the first quarter. That included $204

LCNB Corp. in Lebanon, Ohio, has agreed to buy Cincinnati Bancorp in Cincinnati. The $1.9 billion LCNB said in a press release that it will pay $43.7 million in cash and stock for the $305 million-asset Cincinnati Bancorp. The deal, which is expected to close in the fourth quarter, values Cincinnati Bancorp at 108.9% of its tangible book value. The consideration could be lowered if Cincinnati Bancorp’s adjusted shareholders’ equity