Stablecoin issuer Circle has applied with the Office of the Comptroller of the Currency to create a national trust bank. The proposed First National Digital Currency Bank would, among other things, oversee Circle's USDC reserve on behalf of its U.S. issuer. If the application is approved, First National Digital Currency Bank would be allowed to operate as a federally regulated trust institution. Circle also said that the charter would also

The Bancorp in Wilmington, Del., could be facing a fight to reclaim $3 million tied to a terminated real estate sale. The company had previously agreed to sell a real estate bridge lending asset, primarily comprised of an apartment complex valued at $42.9 million on June 30. The Bancorp terminated the contract on June 24 and requested the return of $3 million of earnest money deposits held in escrow. The

Millennium Bancshares in Chattanooga, Tenn., has agreed to buy North Georgia Community Financial Partners in Calhoun. The $528 million-asset Millennium Bank, which is owned by the DeFoor family, applied with the Federal Deposit Insurance Corp. on June 26 to buy the $267 million-asset North Georgia National Bank. The deal is expected to close in the fourth quarter. The price wasn't disclosed. “This partnership represents a significant milestone in our growth

First Mid Bancshares in Mattoon, Ill., has a new president. The $7.6 billion-asset company said in a press release that Matthew Smith had taken on the new role. Smith, who was the chief financial officer, is now responsible for all First Mid lines of business Jordan Read, who succeeded Smith as CFO, will remain chief risk officer. “I believe it’s the right time to elevate Matt to the role and

Santa Anna National Bank of Santa Anna, Texas, failed. The $63.8 million-asset bank was closed by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC sold most of the bank’s $53.8 million of deposits to Coleman County State Bank of Coleman, Texas, at a 5.16% premium. About $2.8 million of the deposit exceeded FDIC insurance limits. Coleman County also agreed

Atlantic Union Bankshares in Richmond, Va., sold $2 billion of performing CRE loans to Blackstone. Atlantic Union, which inherited the loans when it bought Sandy Spring Bancorp on April 1, said when it announced the acquisition last year that it planned to sell the CRE loans. The loan sale “is another proof point of Atlantic Union’s ability to execute and deliver on transactions that create long-term value for our shareholders,"

Maverick Bancshares in Lubbock, Texas, has agreed to buy Sandhills Bancshares in Monahans, Texas. The $425 million-asset Maverick did not disclose how much it will pay for the $225 million-asset parent of Tejas Bank. The deal is expected to close in the first quarter. “This isn’t just an expansion. It’s about strengthening our presence in the region we call home,” Brent Leslie, Maverick's CEO, said in a press release. “Tejas

Community Financial System in Syracuse, N.Y., has agreed to buy seven branches in the Allentown, Pa., area from Santander Bank. Santander said in a press release that the sale includes $600 million in deposits and $33 million in branch-related loans. Community Financial will pay an 8% deposit premium. The deal is expected to close in the fourth quarter. "As we grow our presence nationally, we are making refinements to our