Blue Ridge Bankshares in Charlottesville, Va., will not pay a dividend in the third quarter. The $3.3 billion-asset company disclosed in a regulatory filing that its board decided to forego the payment, “based on the desire to preserve capital and available cash.” The company’s net income fell by 91% in the second quarter from a year earlier, to $1.6 million, reflecting lower mortgage revenue and negative fair value adjustments to

CapStack, a startup that is aiming to create an integrated operating system for banks, has raised $6 million. CapStack was launched in March by Michal Cieplinksi, co-founder of alternative financing startup Pipe, and Tzvika Perelmuter. The plan is to serve as a bank-to-bank marketplace, giving banks a way to buy and sells deposits and loans. The startup plans to “build the largest financial services infrastructure company,” Cieplinkski tweeted. “Today we

Another veteran bank analyst has accepted a job at a bank. Jennifer Demba announced on LinkedIn that she has become the director of investor relations at Synovus Financial in Columbus, Ga. Demba had been a bank analyst for two decades, most recently at Truist Securities. She was at SunTrust Robinson Humphrey when BB&T bought SunTrust to create Truist. Several other bank analysts have made similar moves. Jefferson Harrelson left Keefe,

Central Bancshares in Muscatine, Iowa, has agreed to buy McLaughlin Holding in Moline, Ill. The $1.1 billion-asset Central Bancshares said in a press release that it plans to buy the holding company for the $337 million-asset SENB Bank in the third quarter. The price wasn’t disclosed. SENB Bank has six branches in Illinois, Iowa and Wisconsin. SENB Bank shares “our core community banking philosophy: empowered local management and employees dedicated

Another bank has disclosed exposure to the MOVEit file transfer cyberattack. The $8.3 billion-asset 1st Source in South Bend, Ind., disclosed in a regulatory filing that an unauthorized third-party gained access to sensitive client data, including personally identifiable information. The company said it deployed cybersecurity defenses which included patching the software, hardening the host server containing the MOVEit software and launching an internal investigation in partnership with outside cybersecurity forensic

Bank of America in Charlotte, N.C., was fined $150 million by regulators based on claims it double charged overdraft fees, opened unauthorized card accounts, and withheld card-related bonuses from some customers. The $2.4 trillion-asset company will pay $90 million in penalties to the Consumer Financial Protection Bureau and $60 million to the Office of the Comptroller of the Currency. It will also pay more than $80 million to customers. The

Peoples Bancorp in Marietta, Ohio, has set the stage for CEO succession. The $8.8 billion-asset company said in a press release that Chuck Sulerzyski will also retire as president and as a director on March 31, 2024. Tyler Wilcox, Peoples’ executive vice president of community banking, will succeed Sulerzyski and join the board on April 1. Wilcox was named chief operating officer, a transitional role until the takes the helm.

Global Credit Union in Anchorage, Alaska, has cut 185 jobs in five states, or roughly 8% of its workforce. The $11.7 billion-asset credit union told the Credit Union Times that the layoffs reflect reduced loan volume tied to elevated interest rates. Most of the cuts were lending-related, though the credit union plans to cut some technology and project management positions. The credit union has operations in Alaska, Arizona, California, Idaho