U.S. Bancorp in Minneapolis has invested in Ownera, a fintech that works with tokenized assets. Ownera said in a press release that the $675 billion-asset U.S. Bancorp participated in the fintech’s Series A investment round. The amount of the investment wasn’t disclosed. Ownera is working to digitize paper-heavy and illiquid private markets for banks, asset managers and exchanges. “This investment will allow us to play an important role in shaping

MVB Financial in Fairmont, W.Va., has sold an advisory practice it bought three years earlier. The $3.1 billion-asset company said in a press release that it sold Chartwell Compliance to Ankura Consulting Group. The price wasn’t disclosed. Chartwell, founded in 2011, provides regulatory compliance, state licensing, financial crimes prevention and enterprise risk management services to fintech firms. MVB will remain a Chartwell client. Chartwell “allowed MVB to grow and scale

Washington Federal in Seattle saw an opportunity with a bank that a number of other banks had no interest in buying. The $21.7 billion-asset Washington Federal agreed in November to buy Luther Burbank in Santa Rosa, Calif., for $654 million – a deal that valued the $8 billion-asset seller at just 97% of its tangible book value. A number of bank executives told Simone Lagomarsino, Luther Burbank’s president and CEO,

Thread Bancorp in Brentwood, Tenn., has hired a banker from Live Oak Bank to oversee its fintech relationships. The $417 million-asset company said in a press release that it recruited Andrew Montgomery to become its director of fintech partnerships. He is responsible for identifying and building partnerships with fintech companies and enhancing the bank’s suite of digital products and services. Montgomery previously served as managing director of venture banking at

TD Bank in Toronto and First Horizon in Memphis, Tenn., are skeptical that they can complete their merger by the May 27 deadline – meaning another extension is likely. The $79 billion-asset First Horizon disclosed in a regulatory filing that TD Bank recently sent notice that it doesn’t expect to secure regulatory approvals in time. TD Bank was also unable to provide a new projected closing date. TD Bank “has

Archway, a platform that was spun off from Washington Federal in Seattle, has raised $15 million of Series A funding. The platform, which helps banks modernize and personalize digital customer interactions by connecting their core banking products to web, mobile, voice and AI technologies, said in a press release that the funding round was led by Madrona and Washington Federal. “The consumer fintech revolution has reimagined what is possible for

Park National in Newark, Ohio, has agreed to pay $9 million to settle redlining claims. The Justice Department said in a press release that the $9.8 billion-asset company decided to resolve allegations that it engaged in “a pattern or practice of lending discrimination” around Columbus, Ohio. The complaint, filed in the U.S. District Court for the Southern District of Ohio, alleged that Park failed to provide mortgage lending services in

S&T Bancorp in Indiana, Pa., will eliminate all nonsufficient funds (NSF) fees for consumer and business deposit accounts. The $9.1 billion-asset company said in a press release that its returned-item fees will go away on April 3. S&T will introduce a new program where it will not charge an overdraft fee if account is overdrawn by $10 or less. Eliminating NSF fees “is just another way we are helping our