The Federal Deposit Insurance Corp. will look to sell about $60 billion of former Signature Bank loans this summer. The agency said in a press release that the portfolio largely consists of commercial real estate loans, commercial loans and a smaller pool of mortgages. The CRE loans include a concentration of multifamily properties, mostly located in New York City. The FDIC said it plans to contact state and local government

SoFi Technologies in San Francisco has bought Wyndham Capital Mortgage. SoFi said in a press release that it paid cash for the fintech mortgage company. The price wasn’t disclosed. The deal is expected to be accretive within six months. SoFi said the acquisition will allow it to broaden its suite of mortgage products, enhance unit economics and take ownership of “an intelligent and scalable platform.” “Several macro- and socioeconomic factors

Montana’s Credit Unions has its next CEO lined up. The association said in a press release that Gerry Singleton will also become its president. He will succeed Tracie Kenyon, who has led the association for nearly 22 years. Singleton has spent almost 25 years as the vice president of credit union system relations at CUNA Mutual Group. “When you have an exceptional organization as I feel we do, it attracts

HBT Financial in Bloomington, Ill., has set the stage for its next CEO. The $4.3 billion-asset company said in a press release that J. Lance Carter will also become its president on May 24. Carter, president and CEO of HBT’s bank, will succeed Fred Drake. Drake will remain chairman of HBT and its bank. “In recent years, Lance has demonstrated the capability to lead HBT into the future,” Drake said

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