Century Savings Bank in Vineland, N.J., has a new CEO. The $600 million-asset bank said in a press release that David Hanrahan has succeeded David Hemple as CEO. Hanrahan was hired to serve as the bank’s president in February 2020. “I leave the bank with the same sense of optimism that marked the start of my time in this role,” Hemple said in the release. “I am confident that Dave

BM Technologies in Radnor, Pa., which tried unsuccessfully to buy a bank last year, plans to lay off about 25% of its workforce. The fintech also said in a press release that Jamie Donahue, its chief technology officer, had become its president. Donahue, who joined the company in 2020, will be responsible for leading IT, operations, product and program management and sales teams. BM Technologies said that the job cuts

Wintrust Financial in Rosemont, Ill., is preparing for a new CEO.   The $53 billion-asset company said in a press release that Ed Wehmer will retire from the post on April 30. He will become executive chairman, a position he will hold until May 23, 2024, then serve as a senior advisor until the end of 2026.   Timothy Crane, Wintrust’s President, will succeed Wehmer as CEO. Crane was appointed

Foro, a fintech that aims to pair business owners with commercial lenders, has launched after receiving financial backing from a group that includes former Bank of America CEO Hugh McColl Jr. The Charlotte, N.C., startup said in a press release that will focus on small- and midsize businesses. The plan is to reduce the initial vetting process for loan applications from 30 days to seven. The venture launched after raising

Ken Guenther, who served as president and CEO of the Independent Community Bankers of America for more than 20 years, has died. The association announced Guenther’s passing in a press release. Guenther joined the ICBA in 1979. He led the association from 1982 to 2004, when he was succeeded by Cam Fine. Guenther established a private consulting practice after leaving the ICBA. He retired in 2012.

The Federal Reserve has denied an application by Custodia Bank in Cheyenne, Wyo., to become a member of the Federal Reserve System. The Fed said in a press release that it concluded that Custodia’s application “is inconsistent with the required factors under the law.” The regulator determined that the special purpose depository institution’s business model and proposed focus on novel and untested crypto activities “presented significant safety and soundness risks.”

Atlantic Union Bankshares in Richmond, Va., has hired the former chief technology officer at PNC Financial Services Group to fill a key executive position. The $20.5 billion-asset company said in a press release that it had hired Matt Lindeman as its chief information officer. Linderman will be responsible all areas of technology and digital strategy, development and implementation. Lindeman “is an accomplished IT executive with extensive expertise leading information technology and

Silvergate Capital in La Jolla, Calif., is preserving capital by suspending dividends on a series of preferred stock. The $11.4 billion-asset company said in a press release that dividends were paused on its 5.375% fixed-rate non-cumulative perpetual preferred stock “This decision reflects the company’s focus on maintaining a highly liquid balance sheet with a strong capital position as it navigates recent volatility in the digital asset industry,” the release said. Silvergate