First Community in Lexington, S.C., confirmed that it has engaged in "preliminary discussions" with Signature Bank of Georgia in Sandy Springs about a merger. The $2 billion-asset company referred to a media report and an erroneously issued press release by the $249 million-asset Signature Bank. "No definitive agreement has been entered into, and there can be no assurance that any agreement will be reached or that any transaction will ultimately

Business First Bancshares in Baton Rouge, La., has agreed to buy Progressive Bancorp in Monroe, La. The $7.8 billion-asset Business First said in a press release that it will pay $82.6 million in stock for the $752 million-asset Progressive. The deal, which is expected to close in the first quarter, priced Progressive at 122% of its tangible book value. Progressive has nine branches, $673 million of deposits and $583 million

Norwood Financial in Honesdale, Pa., has agreed to buy PB Bankshares in Coatesville, Pa. The $2.4 billion-asset Norwood said in a press release that it will pay $54.9 million in cash and stock for the $467 million-asset PB Bankshares. The deal, which is expected to close by the first quarter of next year, priced PB Bankshares at 106.6% of its tangible book value. PB Bankshares "is a growing and respected

VWF Bancorp in Van Wert, Ohio, will soon have a new CEO. The company said in a press release that Robert Slusser will also become its president and join its board on July 14. He will also serve as president and CEO of VWF unit GreenWay Bank. Slusser, who was market president for Fort Wayne, Ind., at F&M Bank, will succeed Michael Cahill, who is retiring.

Stripe has received approval to charter a Georgia merchant acquirer limited purpose bank. Having an MALPB lets a company that is largely engaged in processing credit and debit card transactions for businesses directly access major payment card networks. The charter makes is easier for Stripe to process card payments without having to rely on a traditional bank partner. The newly obtained charter does not allow Stripe to offer bank accounts,

The Consumer Financial Protection Bureau terminated an order against Fay Servicing. The CFPB said that the mortgage servicer had fulfilled several obligations, including paying a $2 million civil penalty and paying $3 million to the bureau to address consumer restitution. The CFPB will distribute the amount to consumers “consistent with the terms of the order.”

The Consumer Financial Protection Bureau has terminated an overdraft fee-related consent order against Navy Federal Credit Union. The CFPB, which hit the Vienna, Va., credit union with the order in November, also waived any alleged non-compliance. The order included a more than $95 million penalty for “illegal surprise overdraft fees,” including a $15 million civil penalty of $15 million and a mandate to refund $80 million in illegally paid overdraft

Investar Holding in Baton Rouge, La., has agreed to buy Wichita Falls Bancshares in Wichita Falls, Texas. The $2.7 billion-asset Investor said in a press release that it will pay $83.6 million in cash and stock for the $1.6 billion-asset Wichita Falls. The deal, which is expected to close in the fourth quarter, priced Wichita Falls at 88.8% of its tangible book value. Investar also announced a private placement of