First Republic Bank in San Francisco plans to cut 20% to 25% of its workforce. The $233 billion-asset bank said in a press release the cuts will occur in the second quarter. Other cost-cutting moves will include “significant reductions” to executive compensation, condensing corporate office space and reducing nonessential projects and activities. First Republic also said it is “pursuing strategic options to expedite its progress while reinforcing its capital position.”

First National Bank and Trust in Shawnee, Okla., is getting closer to rebranding as Sovereign Bank. While the $815 million-asset tribal-owned bank began the process on Feb. 1, signage is set to change in the coming weeks. The bank is owned by the Citizen Potawatomi Nation. The bank also updated its logo which includes the Potawatomi medicine wheel. “We are building a banking family in multiple markets and need a

Bank of Marin Bancorp in Novato, Calif., lost $204 million of deposits over the final weeks of March. The $4.1 billion-asset company said in a press release that the outflows occurred between March 10, when Silicon Valley Bank failed, and March 31. Overall, deposits fell by 9% in the first quarter from the end of 2022. A review of the 100 relationships with the biggest net outflows found that 83%

Middlefield Banc Corp. in Middlefield, Ohio, was the victim of a recent cyberattack. The $1.7 billion-asset Middlefield disclosed in a regulatory filing that the attack occurred on April 12 and resulted in a disruption to its bank’s computer systems. “The bank took immediate action to remediate the security vulnerability,” the filing said. Middlefield also hired a cybersecurity firm to investigate the incident, evaluate systems and identify solutions, and confirm what data,

Greg Becker has resigned as CEO of SVB Financial Group in Santa Clara, Calif. The company disclosed in a regulatory filing that Becker, who had been its CEO, stepped down on Wednesday. He also resigned from SVB’s board. SVB also disclosed the Daniel Beck had resigned as chief financial officer. Becker entered into an agreement to provide consulting services to the company as needed – at no cost. Nicholas Grossi,

Though unsuccessful in an effort to buy Silicon Valley Bank and Signature Bank, Johnny Allison is still interested in bidding on other failed banks. Allison, president and CEO of Home BancShares in Conway, Ark., confirmed that the $22.5 billion-asset company vied for the failed banks but fell short to New York Community Bancorp and First Citizens BancShares. Home is also interested in buying what is left of the bridge banks

CrossFirst Bankshares in Leawood, Kan., has agreed to buy Canyon Bancorp. in Tucson, Ariz. The $6.9 billion-asset CrossFirst said in a press release that it will pay $15.1 million in cash and stock for the parent of the $198 million-asset Canyon Community Bank. The deal is expected to close in the second half of this year. Canyon has one branch, $122 million of loans and $169 million of deposits. “We

FVCBankcorp in Fairfax, Va., reported lower earnings that reflected balance sheet repositioning and a loss tied to its investment in a mortgage lender. The $2.4 billion-asset company said in a press release that its first-quarter net income fell by 91% from a year earlier, to $621,000. FVCBankcorp had an after-tax loss of $3.6 million tied to its decision in late February to sell $40.3 million of mortgage-backed securities. The securities