Infinant, a Charlotte, N.C., fintech, has raised capital in a financing round involving FINTOP Capital and JAM FINTOP BankTech. Infinant said the funding will accelerate the product expansion and deployment of Interlace, a cloud-based platform that lets banks launch, scale and control Banking-as-a-Service (BaaS) and embedded programs. The amount of funding wasn’t disclosed. “Financial institutions are quickly evolving their last mile delivery by decoupling from the core and rebundling their

The Independent Community Bankers of America’s decision to bring its fintech accelerator in-house should expedite bringing products to member banks and allow for integrating relationships with established partners. The ICBA last year announced a plan to move its ThinkTECH Accelerator from Little Rock, Ark., to Atlanta. The accelerator also hired Stephanie Foster, former chief administration officer for XY Planning Network, as its director. The accelerator also plans to run multiple

Republic First Bancorp in Philadelphia is looking to address confusion over its name and that of First Republic Bank, which has been under stress since the failures of two other regional banks. Thomas Geisel, the $5.6 billion-asset Republic First's president and CEO, posted a letter on the company’s website in an effort to draw a distinction between the similarly named banks. “Amid everything going on, Republic Bank would like to

The Federal Deposit Insurance Corp. has exercised its equity appreciation rights tied to common stock in First Citizens BancShares and New York Community Bancorp. First Citizens disclosed in a regulatory filing that the FDIC on Tuesday exercised its right to a payment of $500 million. An FDIC representative told Reuters that it also exercised its right tied to New York Community's stock. First Citizens awarded its rights to the FDIC

An activist investor has backed off a plan to nominate two directors to run for board seats at National Bankshares in Blacksburg, Va. The $1.7 billion-asset company said in a press release that Driver Management had withdrawn its nominees. The company said it did not make any concessions, nor did it negotiate any settlement with Driver. “We are grateful for the outpouring of support from shareholders in recent days, who

First Carolina Bank in Rocky Mount, N.C., has hired an executive from Pinnacle Financial Partners to oversee its fintech strategy. The $2.1 billion-asset bank said in a press release that it had named Pat Pritchard to serve as managing director of fintech and digital banking. First Carolina said Pritchard’s initial focus will be on the core deposit relationship it just created with BM Technologies. Under that agreement, the bank will

The White House is encouraging the Federal Deposit Insurance Corp. to exempt community banks from a special assessment tied to the failure of two regional banks. The FDIC is weighing options for replenishing an estimated $23 billion hit to the Deposit Insurance Fund, and current law requires the agency to level a special assessment on banks. Regulators agreed to insure all deposits at Silicon Valley Bank and Signature Bank. The

The Consumer Financial Protection Bureau issued a rule that would require lenders to report data on small-business lending. The long-awaited rule, part of a mandate in the Dodd-Frank Act designed to address discrimination, will require lenders beginning next year to collect data on the approval and denial of small-business applications. Lenders will also have to keep tabs on borrowers’ geographic locations and demographics, along with pricing. The rule defines small