Peoples Financial Services in Moosic, Pa., repositioned its securities portfolio. The company disclosed in a regulatory filing that it sold $78.6 million of lower-yielding securities at a nearly $1.9 million after-tax loss. Net proceeds were used to buy higher-yielding assets, including U.S. agency mortgage-backed securities and discounted tax-exempt municipal bonds. The moves are expected to increase interest income from the securities portfolio by about $2.8 million over the next 12 months.

A group in Dallas has applied to open a bank. Organizers of the proposed Augustus National Bank have applied to the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency. The application wasn't immediately available. The public notice filed in connection with the application listed six organizers. Three members of the group — Julius Ahr , Ferdinand Dabitz and Simon Wimmer — are based in Germany.

Coinbax has raised $4.2 million in seed funding. The stablecoin-focused payments fintech announced that the round was led by BankTech Ventures, with participation from Connecticut Innovations, Paxos, SpringTime Ventures, and other banking and payments industry leaders. The capital will support engineering development, infrastructure integrations and design partner onboarding. “Within the next three years, every bank account will have a wallet. Stablecoins and tokenized deposits will become part of every bank’s core

Overbrook Bankshares in Overbrook, Kan., has agreed to buy Norcon Financial in Conway Springs, Kan. Overbrook, the parent of the $100 million-asset First Security Bank, said in a press release that it plans to buy the holding company for the $125 million-asset Conway Bank in the first half of next year. The price wasn't disclosed. "The team at Conway Bank has done an excellent job building relationships with their clients

Platte Valley Financial Services in Scottsbluff, Neb., has agreed to buy Potter State Bank in Potter, Neb. The parent of the $1.1 billion-asset Platte Valley Bank expects to purchase all deposits and loans held by the $47.2 million-asset Potter State in the first quarter, according to an announcement by Olsen Palmer, which represented the seller. The price wasn't disclosed.

Bethany Bankshares in Bethany, Mo., has agreed to buy Latham Bancshares in Latham, Mo. The parent of the $1.5 billion-asset BTC Bank expects to buy the holding company for the $190.1 million-asset Tipton Latham Bank in the second quarter, according to an announcement by Olsen Palmer, which represented the seller. The price wasn't disclosed.

ICBA CRA Solutions/USI Alliance has a new leader. The subsidiary of the Independent Community Bankers of America said in a press release that Kristine LaVigna had become its president and CEO. She will oversee the unit's mission to strengthen communities through CRA-aligned lending and investment. “Kristine brings deep expertise and a proven track record of leadership to this position,” ICBA Senior Executive Vice President of Innovation Kevin Tweddle said in

An investor group led by Daryl Byrd has agreed to buy M C Bank in Morgan City, La. DMMS Purchaser plans to buy the $479 million-asset bank, based on an announcement by Performance Trust Capital Partners, which advised the seller. The price wasn't disclosed. Byrd was CEO of IBERIABANK when it sold to First Horizon in Memphis, Tenn. “The combination of our associates and the DMMS team creates a powerful