Altruist, a fintech custodian for registered investment advisers, has raised $112 million in a funding round led by Insight Partners and Adams Street.   The company, which recently announced plans to buy Shareholder Services Group and the launch of its self-clearing custodian, said in a press release that the Series D round brought its total funding to about $290 million.   “I couldn’t be more energized by what we’re working

U.S. Bancorp in Minneapolis is shifting some executive responsibilities. The $675 billion-asset company said in a press release that Kate Quinn, its vice chair and chief administrative officer, and Jim Kelligrew, vice chair of corporate and commercial banking, will retire on June 30. Quinn, 58, has been with the company for 10 years, while Kelligrew, 57, has been there for 14 years. Terry Dolan, U.S. Bancorp’s chief financial officer, will

Huntington Bancshares in Columbus, Ohio, has sold its retirement planning service business. The $182.9 billion-asset company disclosed in a regulatory filing that it sold the business to OneDigial Investment Advisors, a registered investment adviser, on March 31. The business handles about 1,200 plans and $5.6 billion in retirement plan assets under management. Huntington said it will record a pretax gain of about $57 million, including associated goodwill allocation. Huntington and

Walmart wants to end its credit card relationship with Capital One Financial in McLean, Va.   Capital One disclosed in a regulatory filing that the giant retailer filed a lawsuit in the Southern District of New York in an effort to terminate their private label and cobranded card programs.   The lawsuit, filed on April 7, came a day after Walmart sent Capital One a notice of termination.   Capital

F&M Bank in Timberville, Va., has new leadership. The $1.3 billion-asset company said in a press release that Mike Wilkerson had become its CEO and that Barton Black was named president. They succeeded Mark Hanna, who is leaving the company and stepping down from its board. Wilkerson previously served as chief lending officer and chief strategy officer. Black was chief operating officer. “We are grateful to Mark for his contributions

CoastalSouth Bancshares in Hilton Head, S.C., has raised $9 million through a private placement of common stock. The $2 billion-asset company said in a press release that it will use the net proceeds for a range of purposes that could include continued growth and maintaining bank-level regulatory capital ratios. The company did not disclose the investors involved. "CSB continues to enjoy strong customer loyalty and meaningful opportunities for growth across

First Miami Bancorp in South Miami, Fla., considered four offers before deciding to negotiate with United Community Banks in Greenville, S.C. The $24 billion-asset United agreed in February to buy the $1 billion-asset First Miami for $115.9 million in stock. First Miami initially considered finding a merger partner in early 2020 but put that effort on pause during the earliest days of the pandemic, according to a regulatory filing tied

Berkshire Hills Bancorp in Boston has added a former Federal Reserve official to its board. The $11.7 billion-asset company said in a press release that Eric Rosengren also joined its bank’s board on April 5. He joined the board’s risk management, capital and compliance and audit committees. Rosengren was president and CEO of the Boston Fed from 2007 to 2021. He is now CEO of Rosengren Consulting and a visiting