Beach Cities Commercial Bank in Irvine, Calif., has a new CEO. Thomas Inserra announced his appointment on his LinkedIn account. The bank has $157 million in assets Inserra was president and CEO of Integro Bank in Arizona.

Endeavor Bancorp in San Diego raised $10 million through a private placement. The company said in a press release that it sold nearly 667,000 shares of common stock at $15 each. The initial plan was to raise $8 million, but the offering was oversubscribed. Endeavor plans to use the proceeds to support organic and strategic growth opportunities. “The success of this capital raise is a reflection of the strength of

Varo Bank raised another $123.9 million in capital. The digtal bank, which reported a $91.7 million net loss last year, said in a press release that the funding round was led by existing investor Warburg Pincus along with new investor Coliseum Capital Management. Existing backers, including Northview, also contributed. Alice Milligan, a former chief marketing officer at Morgan Stanley, and Kevin Watters, former division chief executive officer at JPMorgan Chase,

Columbia Financial in Fair Lawn, N.J., has agreed to buy Northfield Bancorp in Woodbridge, N.J. The $11 billion-asset Columbia said in a press release that it will pay $597 million in cash and stock for the $5.7 billion-asset Northfield. The deal is expected to close in the third quarter. In connection with the deal, Columbia plans to conduct a second-step conversion to become a fully stock-owned company. Northfield would merge

Metropolitan Capital Bank & Trust in Chicago became the first bank failure of 2026. The $261 million-asset bank was closed by the Illinois Department of Financial and Professional Regulation. The Federal Deposit Insurance Corp. entered into a purchase-and-assumption agreement to sell substantially all of the bank's $212.1 million of deposits to First Independence Bank in Detroit. The $699.6 million-asset First Independence also bought about $251 million of the failed bank’s

Seis, a neobank that focused on the Hispanic community, is shutting down. The neobank, which launched nearly five years ago, had opened accounts for more 500,000 people and grew to $10 million in revenue 16 months after launching. "So what happened? There's a lot to say here, but the short story is that immigration patterns changed and we saw less demand for our product," Joshua Howland, the company's co-founder and

Peoples Financial Services in Moosic, Pa., said its president plans to retire. The company said in a press release that Thomas Tulaney will step down on April 3. Following retirement, Tulaney is expected to continue to serve as a senior advisor role. Gerard Champi, the company's CEO, is expected to become president.

Shelby County State Bank in Harlan, Iowa, is closing three Iowa branches. The bank said in a press release that it will close locations in Irwin, Portsmouth, and Battle Creek on April 30. “We are incredibly grateful for the relationships we’ve built in these communities over the years,” Kevin Campbell, the bank's president and CEO, said in the release. “We understand that change can be difficult, and our priority is