First Horizon in Memphis, Tenn., is being tight-lipped about the status of its pending sale to TD Bank. The $81 billion-asset company said in its earnings release that the $13.4 billion deal is unlikely to secure regulatory approval before an already adjusted May 27 deadline. The release stated that TD “cannot provide a new projected closing date” and that there are “no further updates at this time.” Overall, the commentary

Nicolet Bankshares in Green Bay, Wis., reported a quarterly loss after repositioning its balance sheet. The $8.2 billion-asset company said in a press release that it lost $9 million in the first quarter, a reversal of the $24 million profit it reported a year earlier. Nicolet said it sold U.S. Treasury held-to-maturity securities with a par value of $500 million on March 7 at a pretax loss of $38 million.

The Independent Community Bankers of America has identified six fintechs to join its latest cohort. The latest ThinkTECH Accelerator program will begin on April 24. It is the first of two accelerators planned this year as the ICBA shifts to year-round programming. Three fintechs are focused on deposit-based products and services. CNote helps banks invest capital into underserved communities, while Micronotes is a cloud-based company that uses data to let

AmeriServ Financial in Johnstown, Pa., reported lower net income after absorbing a $926,000 hit from a subordinated debt investment in the failed Signature Bank.   The $1.3 billion-asset AmeriServ said in a press release that its first-quarter net income fell by 37% from a year earlier, to $1.5 million.   A big reason for the decrease was a roughly $1.2 billion loan-loss provision that included the hit from the Signature

CCFNB Bancorp in Bloomsburg, Pa., has agreed to buy Muncy Bank Financial in Muncy, Pa. The $944 million-asset parent of First Columbia Bank & Trust said in a press release that it will pay $65.6 million in stock for the $633 million-asset Muncy. The deal is expected to close in the fourth quarter. The renamed Muncy Columbia Bank will have $1.2 billion of deposit and $1 billion of loans when

Apple debuted a savings account for its Apple Card users that offers a 4.15% annual rate. The technology giant said in press release that the savings account from Goldman Sachs offers rates that it more than 10 time the national average, based on data from the Federal Deposit Insurance Corp. Goldman Sachs, in comparison, offers a 3.9% rate through its Marcus platform. The Apple savings account has no fees, no

The Small Business Administration is set to end a 41-year moratorium limiting how many nondepository lenders from participating in the agency’s 7(a) loan guarantee program. The SBA said the moratorium, which restricted 7(a) participation to 14 small-business lending companies (SBLCs), will be lifted on May 12. Three SBLCs are set to join existing lenders. Banking groups have opposed increasing the number of SBLC participants. At the same time, several studies

MainStreet Bankshares in Fairfax, Va., said its Banking-as-a-Service (BaaS) platform should launch at the end of this month. The $2.1 billion-asset company said in a press release that Avenu should debut on April 30. MainStreet said it is making a final push to strengthen its cyber architecture and implement a debit card for funding. Three companies have signed up for the platform. “We are inches away from going live with