Strategic Insights into Banking & Fintech

Community State in Iowa selects new president

Community State in Iowa selects new president

Community State Bank in Ankeny, Iowa, has a new president. The $1.4 billion-asset bank said in a press release that Brian Hannah had succeeded Kurt Gibson, who remains CEO. Hannah previously served as commercial sales manager at Bankers Trust. “The addition of Brian to our organization’s leadership strengthens our ability to concentrate on the most critical priorities for our employees, clients and community,” Gibson said in the release. “He possesses

February 12, 2024
Primary Bank in N.H. selects CFO to become its new leader

Primary Bank in N.H. selects CFO to become its new leader

Primary Bank in Bedford, N.H., has a new CEO. The $700 million-asset company said in a LinkedIn post that Crystal Dionne had also become its president. She was the bank’s chief financial officer. “We are fortunate to have strong and experienced leaders like Crystal Dionne to assume this top leadership role,” Bill Greiner, the bank’s chairman, said in the post. “She is uniquely qualified to continue our exceptional work in

February 12, 2024
Honda’s financing arm discloses CFPB probe

Honda’s financing arm discloses CFPB probe

American Honda Finance, automaker Honda's financing arm, said it is being investigated by the Consumer Financial Protection Bureau over its “furnishing of credit reporting information on consumer accounts.” The consumer finance company said in a regulatory filing that the CFPB sent it a "civil investigative demand" November. The investigation is connected to the financing arm's "furnishing of credit reporting information on consumer accounts."  American Honda Finance said it is cooperating

February 12, 2024
First Financial in Ohio strikes new community benefits pact

First Financial in Ohio strikes new community benefits pact

First Financial Bancorp in Cincinnati has agreed to a five-year, $2.4 billion community benefits agreement. The $17.5 billion-asset company, under the accord reached with the National Community Reinvestment Coalition and other groups, will provide $700 million in mortgage lending and $600 million in small business lending in underserved communities. The agreement includes more than $1 billion in community development lending and investments in affordable housing, community services, revitalization and stabilization,

February 11, 2024
Grove Bank in Miami taps insider as next president

Grove Bank in Miami taps insider as next president

Grove Bank & Trust in Miami has a new president. The $1 billion-asset bank named Ed Joyce to fill the position. Joyce has been the bank’s vice chairman since August 2021. He said in his LinkedIn profile that he handles client engagement efforts. Joyce joined Grove from Northern Trust, where he was an executive client adviser.

February 11, 2024
SouthState in Fla. reports cybersecurity incident

SouthState in Fla. reports cybersecurity incident

SouthState in Winter Haven, Fla., was the victim of a cyberattack.   The $44.9 billion-asset company disclosed in a regulatory filing that its bank was hit on Feb. 6.   The company said it initiated “incident response and business continuity protocols” and began taking measures to disrupt the unauthorized activity. It isolated parts of its network, resulting in some disruption to business processes.   Operations continued throughout this process in

February 9, 2024
Provident in Mass. ends co-CEO management structure

Provident in Mass. ends co-CEO management structure

Provident Bancorp in Amesbury, Mass., is back to having just one president and CEO. The $1.7 billion-asset company disclosed in a regulatory filing that Carol Houle also stepped down as its chief financial officer. Joseph Reilly is now Provident’s sole president and CEO. Reilly was chairman in December 2022, when he was appointed with Houle to succeed David Mansfield. At that time, Provident was coming off a big third-quarter loss

February 9, 2024
BankFinancial in Ill. signs standstill agreement with investor

BankFinancial in Ill. signs standstill agreement with investor

BankFinancial in Burr Ridge, Ill., has reached a truce with an activist investor and added two directors to its board.   The $1.5 billion-asset company said in a press release that Benjamin Mackovak had become a director as part of a standstill agreement with Strategic Value Bank Partners and Strategic Value Investors. Mackovak is managing member of Strategic Value Bank Partners.   The investors agreed to back BankFinancial’s director nominees

February 9, 2024