First Sound Bank in Seattle has agreed to sell to Harborstone Credit Union in Lakewood, Wash. The $1.9 billion-asset credit union said in a press release that it will pay $6.90 to $7.10 a share for the $154 million-asset First Sound. The deal is expected to close in the first quarter. First Sound would be the first bank acquisition for Harborstone. "We're excited to grow Harborstone Credit Union and owe

Wells Fargo in San Francisco is bracing for a $1.8 billion invoice from the Federal Deposit Insurance Corp. The FDIC is planning to collect a special assessment to replenish the Deposit Insurance Fund. The amounts would be based on a bank’s uninsured deposits. The $1.9 trillion-asset Wells Fargo said in a quarterly filing that its special assessment could total up to $1.8 billion, adding that it plans to expense the

EverBank in Jacksonville, Fla. – now under new ownership – also has a new CEO. The investor group that bought and rebranded TIAA Bank said in a press release that Greg Seibly had taken on the role. Siebly recently served as president and head of regional banking at Umpqua Bank. David DePillo, who recently served as president of First Foundation Bank, is EverBank’s new president. Siebly and DePillo succeeded Steve Fischer,

The nation’s leading credit union associations are planning to merge. The National Association of Federally-Insured Credit Unions and the Credit Union National Association plan to combine and form America’s Credit Unions next year. Jim Nussle, CUNA’s president and CEO, would lead the combined association. Dan Berger, who earlier this year announced plans to step down as NAFCU’s president and CEO, would remain at the association through the end of this

Blue Ridge Bankshares in Charlottesville, Va., reported a quarterly loss that reflected issues with a group of specialty finance loans. The $3.2 billion-asset company said in a press release that it lost $19.5 million in the second quarter. The results reflected a higher loan-loss provision and reversal of interest income tied to $58.1 million of loans placed on nonaccrual status during the quarter. The loans, sourced by a former lender,

Heartland Financial USA in Denver is close to completing a large-scale charter consolidation. The $20.2 billion-asset company said in a press release that it consolidated Bank of Blue Valley and First Bank & Trust into its HTLF Bank during the second quarter. Rocky Mountain Bank was recently rolled up. Nine banks have been consolidated, with the last two set for October. Heartland said it will cost $19 million to $20

NBT Bancorp in Norwich, N.Y., has acquired a retirement plan administrator. The $11.9 billion-asset company said in a press release that its EPIC Retirement Plan Services unit bought Retirement Direct in Charlotte, N.C. The price wasn't disclosed. Retirement Direct serves more than 500 plans and has over $2 billion of assets under management. EPIC RPS supports over 5,000 retirement plans with more than 300,000 participants. Separately, the company said it

West Potomac Capital in Arlington, Va., plans to raise $250 million for a social impact fund that would invest in minority depository institutions (MDIs) and women-owned banks. The WPC Financials Impact Fund I, set to launch in the second half of this year, would also invest in community development financial institutions (CDFIs) and low-income designated credit unions. The fund will be led by Trevor Montano, West Potomac’s founder and managing