First Merchants in Muncie, Ind., is the latest bank to disclose that customer data was exposed in the global incident involving Progress Software. The $18.2 billion-asset company said in a regulatory filing that, while the MOVEit transfer incident, did not involve its bank’s internal network or IT systems, customers that use online and mobile banking could have had personal information copied through the cyberattack. The vendor confirmed that it implemented

Totem Technologies has launched its app. The Tulsa, Okla., neobank, which is focused on Native Americans, announced the app’s launch on social media. The announcement came eight months after Totem raised $2.2 million of preseed funding. “I am feeling such a complex rush of emotions today that it’s hard to know what to say,” Totem CEO Amber Buker said in a post. “Thank you to everyone who’s played any part

Two new banks opened last month. Beach Cities Commercial Bank opened in Irvine, Calif., on June 12, according to the Federal Deposit Insurance Corp. Organizers had to raise $25 million before opening the bank. Separately, Community Unity Bank in Birmingham, Mich., opened on June 26. The organizing group behind Community Unity had to raise $23.2 million to open the de novo.

Hilltop Holdings in Dallas disclosed that an unauthorized party likely obtained customer data due to a security incident at a third-party vendor.   The $17 billion-asset company disclosed in a regulatory filing that the incident was tied to a vulnerability in the MOVEit transfer application – a managed file transfer software.   Hilltop said its bank uses the vendor’s systems as its core operating system.   Though the vendor said

Premier Financial in Defiance, Ohio, has sold an insurance business to Risk Strategies, a specialty insurance company in Boston. The $8.6 billion-asset Premier sold First Insurance Group for an undisclosed amount, according to a press release. The agency handles a wide range of insurance products. “The First Insurance Group and Risk Strategies teams share a common view on the importance of delivering superior products and services to our clients driven

Lake Shore Bancorp in Dunkirk, N.Y., has entered into a written agreement with the Federal Reserve that bars it from making a number of capital-related moves without Fed approval. The $700 million-asset company disclosed in a regulatory filing the new agreement follows a Feb. 9 consent order with the Office of the Comptroller of the Currency. The company is no longer allowed to declare or pay dividends, repurchase stock, or

Shareholders of Republic First Bancorp will vote to fill three board seats at the next annual meeting after the Philadelphia company decided to add another director slot.   The $6.2 billion-asset company said in a press release that it will increase the size of its board from seven to eight directors prior to the Oct. 3 annual meeting.   “This addition is part of the board’s ongoing refreshment process intended

Pathfinder Bancorp in Oswego, N.Y., has added an executive at a high-profile bank investor to its board. The $1.4 billion-asset company said in a press release that Anthony Scavuzzo had joined its board. He is a managing principal at Castle Creek Capital in San Diego. Castle Creek is a private equity firm that specializes in the community banking industry. Castle Creek, under a May 2019 securities purchase agreement, was allowed