ACNB Corp. in Gettysburg, Pa., repositioned its balance sheet. The $2.8 billion-asset company said in a press release that it sold $51.1 million of available-for-sale securities at an after-tax loss of $3.5 million. The net proceeds were used to buy higher-yielding investment securities, including agency multifamily debt and investment-grade bank holding company corporate debt. ACNB said it still expects to report a profit in the fourth quarter. The repositioning should

B2 Bank in Mountain Iron, Minn., which has fintech ties and has been building a Banking-as-a-Service (BaaS) platform, must develop a risk assessment process for new products and services under a written agreement with the Office of the Comptroller of the Currency. The $72 million-asset bank stipulated to the agreement after regulators determined that it has “unsafe or unsound practices, including those relating to internal controls and less-than-satisfactory management.” The

First Citizens BancShares in Raleigh, N.C., has added a former Bank of America executive to its board. The $200 billion-asset company said in a press release that David Leitch will become a director on Jan. 1. He will serve on the audit committee and the compensation, nominations and governance committee. Leitch was global general counsel at Bank of America from 2016 to 2021 and the company’s vice chairman from 2021

The Federal Deposit Insurance Corp. has formed a new venture as part of its plan to sell commercial real estate loans once held by the failed Signature Bank. The FDIC receivership said in a press release that it created SIG CRE 2023 Venture, selling a 20% equity stake in the limited liability corporation to Hancock JV Bidco, an entity indirectly controlled by Blackstone and other investors. The investor group paid

CU Digital One, a credit union service organization focused on fintech investments, has landed another credit union investor. The $820 million-asset Zeal Credit Union in Livonia, Mich., will invest $5 million in the CUSO in a transaction expected to close in the first quarter. The investment “aligns perfectly with our commitment to providing the best possible experience for our members,” "Julie Kreinbring, Zeal’s CEO, said in a press release. “We

Stephen Gordon is ready to become a bank acquirer – again. Genesis Bank in Newport Beach, Calif., where Gordon is chairman and CEO, said in a press release that has secured about $500 million in capital commitments to buy and recapitalize banks in the western United States. The $173 million-asset minority depository institution, which opened in 2021, would only draw upon the capital if it received regulatory and shareholder approvals

GBank Financial Holdings in Las Vegas has agreed to buy BankCard Services. The $729 million-asset GBank said in a press release that it will pay $10 million in stock for the cashless payments company, which will operate as a unit of the bank and bolster its gaming fintech division. The acquisition, which is set to close in the second quarter, is expected to be immediately accretive to GBank's earnings per

First Community in Lexington, S.C., has given its bank president added duties.   The $1.8 billion-asset company said in a press release that Ted Nissen will become CEO of First Community Bank on Jan. 1. Nissen, who will also join First Community’s board, will add responsibility for mortgage and financial planning.   First Community also said that Drew Painter and Vaughan Dozier Jr. will become co-chief commercial and retail banking