Bank of Marin Bancorp in Novato, Calif., recently purged securities from its balance sheet. The $4.1 billion-asset company said in a press release that it sold $82.7 million of securities in July at a net loss of $2.8 million. The proceeds will be held in cash as part of the company’s liquidity strategy. The loss will be offset by a $2.8 million gain from selling the company’s remaining Visa Class

BM Technologies in Radnor, Pa., is dealing with regulatory approvals delays for its planned deposits partnership with First Carolina Bank in Raleigh, N.C.   BM Technologies agreed in March to have First Carolina Bank support its higher education business. The regulatory delay is expected to negatively impact the company’s core EBITDA results from $1 million to $1.5 million a month.   The company said that, based on feedback received, it

John Marshall Bancorp in Reston, Va., has sold nearly $162 million of securities at a loss. The $2.4 billion-asset company said it sold lower-yielding available-for-sale investment securities on July 17 at a $13.5 million after-tax loss. It also redeemed $21.4 million of bank-owned life insurance (BOLI) assets – incurring an after-tax loss of $1.1 million as part of the process. John Marshall said the proceeds will be reinvested in higher-yielding

Lakeland Financial in Warsaw, Ind., reported lower second-quarter profit after it fell victim to international wire fraud. The $6.5 billion-asset company said in a press release that its earnings fell by 43% from a year earlier, to $14.6 million. The results included a $13.6 million wire fraud loss, net of tax. Lakeland said it discovered the fraud on June 30. The fraudulent activity resulted from “a highly sophisticated business email

Windsor Federal Savings and Loan in Windsor, Conn., has a new CEO. Luke Kettles also became the $750 million-asset bank’s president following its annual meeting. Kettles succeeded George Hermann, who retired. “I can say it was the best job of my career,” Hermann, who is still serving as executive chairman, said in a LinkedIn post. “I had the privilege of working with a great team,” Hermann added. “The key to

FedNow, the Federal Reserve’s instant-payments system, is live. The Fed said in a press release that 35 early adopting banks and credit unions and the Treasury Department are ready to go. Sixteen service providers are ready to support payment processing. The Fed “built the FedNow Service to help make everyday payments over the coming years faster and more convenient," Fed Chair Jerome Powell said in the release. "Over time, as

Columbia Banking System in Tacoma, Wash., sold some loans and plans to sell some mortgage-servicing rights. The $53.6 billion-asset company said in a press release that it sold $373 million of non-relationship loans and reclassified another $118 million as held for sale. As a result, overall loans fell slightly in the second quarter from a quarter earlier. The company also agreed to sell about a third of its MSR portfolio.

Banks in California and Oklahoma have raised capital through private placements of common stock. First Altus Bancorp, the parent of the $414 million-asset Frazer Bank in Altus, Okla., brought in $2.4 million in capital on July 13, according to data compiled by Performance Trust Capital Partners. Friendly Hills Bancorp, the $393 million-asset holding company for First Pacific Bank in Whittier, Calif., raised about $3.3 million. Performance Trust did not include