United Community Banks in Greenville, S.C., has agreed to buy First Miami Bancorp in South Miami, Fla.   The $24 billion-asset United said in a press release that it will pay about $115.9 million in stock for the $1 billion-asset First Miami. The deal, which is expected to close in the third quarter, priced First Miami at 162% of its tangible book value.   First Miami shareholders will also receive

Northpointe Bank in Grand Rapids, Mich., is exiting the correspondent lending business. The $4.4 billion-asset bank plans to focus more on retail lending, mortgage warehouse financing and specialty loan servicing, according to HousingWire. Fundings will stop on April 28. “Due to the significant contraction of the overall mortgage industry, we have made the difficult decision to exit the correspondent lending business,” Chuck Williams, the bank’s president and CEO, said in

TD Bank Group in Toronto and First Horizon in Memphis, Tenn., have extended the deadline date for their planned merger. The companies said in a press release that the date had been moved from Feb. 27 to May 27 as they finalize a community benefits plans and wait for regulatory approval. TD had already acknowledged that it hopes to close the deal in late April. “TD and First Horizon are

Ashton Ryan, former CEO of First NBC Bank, has been found guilty of bank fraud charges that contributed to the New Orleans bank’s failure in 2017. A court found Ryan guilty of all 46 counts against him, according to multiple media reports. Ryan had been accused of approving loans for borrowers that he knew couldn’t repay the debt. He was accused of hiding the financial status of the loans and

Northwest Bank in Columbus, Ohio, has formed a commercial finance group. The $14 billion-asset bank said in a press release that the group will focus on business aviation, long-haul trucking, inland and offshore marine financing and general equipment loans to large and midsize companies. The group will operate across the eastern United States. Lee Palm was named the group’s president. He previously served as president of commercial finance at TCF

Affirm Holdings in San Francisco has reduced its reliance on Cross River Bank in Teaneck, N.J., to originate loans. The fintech, which focuses on Buy Now, Pay Later products, disclosed in its quarterly filing that, as of Jan. 31, most of the loans originated through its platform are being handled by Celtic Bank in Salt Lake City. Affirm said the decision was made in January as part of a broader

Wells Fargo agreed to pay $300 million to settle a class-action lawsuit that claimed the San Francisco company did not tell investors it had knowingly charged unnecessary auto-collision protection insurance. The settlement, which needs to be approved by the U.S. District Court for the Northern District of California, was disclosed in a press release by law firm Robbins Geller Rudman & Dowd, which represented the plaintiffs. A trial in the

SVB Financial Group in Santa Clara, Calif., has promoted several executives to lead key verticals. The $213 billion-asset company said in a press release that Ashraf Hebela had become head of technology and healthcare banking. Hebala, who previously served as head of startup banking, succeeded Dave Sabow, who was named CEO of Silicon Valley Bank UK and head of EMEA, pending regulatory approval. SVB also said Lewis Hower succeeded Hebala