The Federal Reserve and Treasury Department have fined Wells Fargo in San Francisco a total of $97.8 million for unsafe and unsound practices tied to “historical inadequate oversight of sanctions compliance risks.” The Fed said in a press release that it fined the company $67.8 million. Wells was hit with a separate $30 million fine by the Treasury. The Fed said “deficient oversight” at Wells Fargo Bank enabled it to

SkyPoint Federal Credit Union in Germantown, Md., said its CEO is retiring. The $210 million-asset credit union said in a press release that Jim Norris will also retire as president. SkyPoint didn’t identify his successor. Norris has been SkyPoint’s leader for the past 12 years. He spearheaded a rebranding from Montgomery County Employees FCU in 2018. Since 2018, SkyPoint has received five community development financial institution (CDFI) grants totaling $4.2

First Financial in Arthur, N.D., has agreed to buy HSB Financial in Harwood, N.D. The parent of the $515 million-asset BankNorth did not disclose the price it will pay for the parent of the $47 million-asset Harwood State Bank. The deal is expected to close this summer. “This purchase will be a great fit for both banks and our customers,” BankNorth CEO James Williams III told BankBeat. “Both banks are

Patriot National Bancorp in Stamford, Conn., will have a new bank CEO. The $1.1 billion-asset company said in a press release that David Lowery will also become president of Patriot Bank in late April. He succeeded Robert Russell, who is leaving to “pursue another career opportunity.” Lowery, who joined the company in 2021, is the bank’s chief lending officer. Lowery has held senior roles at Iberiabank, Metropolitan Commercial Bank and

The Fuller family is again running a bank in Dubuque, Iowa. Capra Bank is set to open next month in the city after an investor group bought and relocated the $62 million-asset Peoples Savings Bank in Montezuma, Iowa, according to the Telegraph Herald. Capra’s chairman and CEO is Lynn “Tut” Fuller. His brother, Thomas Fuller, serves on the bank’s board. They are the sons of Lynn Fuller, former chairman and

German American Bancorp in Jasper, Ind., has tapped an insider to serve as its president. The $6.2 billion-asset company disclosed in a regulatory filing that Bradley Rust will take over the role on May 18. Rust, who will remain chief operating officer and chief financial officer, will succeed D. Neil Dauby. Dauby, who will remain CEO, will succeed Mark Schroeder as chairman on May 18. Schroeder, who preceded Dauby as

The Federal Deposit Insurance Corp. received 27 offers from 18 bidders looking to buy Silicon Valley Bridge Bank and/or Silicon Valley Private Bank before the agency decided to sell the bridge bank to First Citizens BancShares in Raleigh, N.C. Four parties submitted five bids for Signature Bridge Bank before it was sold to a unit of New York Community Bancorp in Hicksville, FDIC Chairman Martin Gruenberg said in a written

The Federal Deposit Insurance Corp. plans to impose special assessments on the banking industry to replenish losses to the Deposit Insurance Fund (DIF) stemming from the failures of Silicon Valley Bank and Signature Bank. FDIC Chairman Martin Gruenberg, in written testimony released prior to a Tuesday hearing of the Senate Banking Committee, said the agency plans to issue a notice of proposed rulemaking in May to address the special assessment.