An investor group led by one of Martin Luther King’s children and a former Trump Administration official has agreed to buy Holladay Bank and Trust in Salt Lake City. Redemption Holding Co. said in a press release that it plans to seek approval to become a bank holding company. It also plans to turn the $68 million-asset Holladay into a minority depository institution (MDI). The purchase price wasn’t disclosed. Ashley

U.S. Bancorp said the Consumer Financial Protection Bureau is considering "a potential enforcement action" tied to the Minneapolis company’s handling of prepaid cards for unemployment benefits. The $593 billion-asset company’s disclosure comes months after it said the CFPB was investigating the matter. U.S. Bancorp reiterated in its annual filing with the Securities and Exchange Commission that it is “cooperating fully” with the probe. The CFPB and the Office of the

Apex Bank in Camden, Tenn., plans to move its corporate headquarters to West Knoxville. The $1.1 billion-asset bank has a contract to buy the former Discovery campus from Warner Bros., according to multiple media reports. The price of the transaction, which is expected to close on March 31, wasn’t disclosed. In addition to its corporate office, Apex plans to relocate its national mortgage-servicing division to the campus. The 33-acre site

Unity National Bank of Houston has received a $50 million investment from Baker Hughes, an energy technology company. Baker Hughes said in a press release that the investment in the $215 million-asset Black-owned bank came in the form of a $50 million deposit in J.P. Morgan Asset Management's Empower share class. “We have a responsibility to improve and support the communities in which we live and work,” Nancy Buese, Baker

Two executives at Metallicus, a San Francisco fintech, has applied to form a bank holding company and buy State Bank of Nauvoo in Illinois. The company, which develops product on the blockchain, said in a press release that it created FBBT Holdings to expand banking and financial services to underserved clients in emerging technology industries. FBBT agreed to buy the $37 million-asset State Bank of Nauvoo in a deal expected

TD Bank in Toronto; Independent Bank Group in McKinney, Texas; and HSBC Holdings are the latest banks to settle longstanding litigation tied to Stanford Financial Group. TD Bank agreed to pay $1.2 billion to settle claims it aided in the $7 billion Ponzi scheme. Independent, which inherited exposure from a past acquisition, will pay $100 million, while HSBC will pay $40 million. Allen Stanford was convicted of fraud and money

Synergy Bancshares in Houma, La., has agreed to buy Peoples Bancshares of Pointe Coupee Parish in New Roads, La. The $763 million-asset Synergy said in a press release that it expects to complete the purchase of the parent of the $337 million-asset Peoples Bank in the third quarter. The price wasn’t disclosed. Synergy will enter the Baton Rouge, La., market with the acquisition. Peoples has four branches, $257 million of

HarborOne Bancorp in Brockton, Mass., has changed its bank’s charter after getting too big to use a benefit of being a state-chartered savings bank. The $5.4 billion-asset company disclosed in a regulatory filing that HarborOne Bank switched to a state-chartered trust company and ended its membership in the Depositors Insurance Fund. The DIF insures deposit balances held by Massachusetts-chartered savings banks in excess of the federal deposit insurance coverage amounts.