MeridianLink, a software provider, has acquired Credit Mountain, an AI-focused financial wellness platform. MeridianLink said in a press release that the acquisition "marks the start of an era of accelerated technology investment" that will accelerate its strategy of helping financial institutions engage borrowers throughout the lending decision. The price wasn't disclosed.  “MeridianLink has long been a market leader in helping community financial institutions automate and orchestrate account opening and loan

Dakota, a neobank that issued an enterprise stablecoin offering earlier this year, has applied for a national trust bank charter. The company, which already operates as a registered money services business, said in a press release that the new charter would position it "as a federally regulated provider of digital asset custody, stablecoin issuance, and related services, and a partner of choice for corporate and institutional clients building on us."

BCB Bancorp in Bayonne, N.J., reported a $14.8 million second-quarter loss. The $3.1 billion-asset company, which just hired turnaround expert Tom O'Brien as its CEO, said the loss reflected a $19 million loan-loss provision, a $5.3 million goodwill impairment, and a $2.6 million loss tied to a nonaccrual construction loan moved to held-for-sale. BCB said it is reviewing its loan portfolio with outside consultants, suspended common and preferred dividends, and

The Illinois Bankers Association has a new leader. The association said that David Boulay had become its president and CEO. Boulay was president of IMEC Illinois.

Chime plans to cut a tenth of its workforce, or roughly 150 people. The fintech is looking to capitalize on increased use of artificial intelligence to innovate and become more efficient. “The world is changing quickly and this means we need to keep evolving too,” CEO Chris Britt wrote in a company memo. “To continue to lead in the next era, we need to have the right structure, capabilities, and

Peoples Bancshares of TN in Madisonville, Tenn., has agreed to buy First Peoples Bancorp in Jefferson City, Tenn. Peoples Bancshares said in a press release that it will have $650 million of assets after it buys the parent of First Peoples Bank of Tennessee in a deal expected to close late this year or early 2027. The price wasn't disclosed. “We have long respected the relationships First Peoples Bank of

Coastal Financial in Everett, Wash., reported a quarterly loss and disclosed that it is no longer in talks to buy deposits and assets from Evolve Bank & Trust in West Memphis, Ark. The $5.5 billion-asset company said in a press release that it lost $42.1 million in the second quarter, largely reflecting a $68.8 million credit expense tied to a single fintech partner relationship. Otherwise positive results were “offset by

Linker Finance raised $5 million in its latest seed round. The company, which helps banks figure out digital banking, has raised a total of $8.7 million. "Since our initial investment, Linker has continued to execute. The company is now live with 10+ community banks across multiple core banking platforms, helping financial institutions launch modern digital experiences in as little as eight weeks, rather than the years these implementations have traditionally