Eagle Rock Bank in Rochester, Minn., will soon have streamlined leadership. The $275 million-asset bank said in a press release that Brad Becker will retire as president and co-CEO at the end of this year. He will remain on the board. Larry Schminski, a former Federal Deposit Insurance Corp. examiner and the bank's co-CEO, will become the sole CEO. Kelly Nelson, the bank's chief operating officer and director of human

Enova in Chicago has agreed to buy Grasshopper Bank in New York. The fintech said in a press release that it plans to pay $369 million in cash and stock for the $1.4 billion-asset Grasshopper. The deal, which is expected to close in the second half of next year, priced Grasshopper at 254% of its tangible book value. Through its direct and Banking-as-a-Service (BaaS) product offerings, Grasshopper holds about $3

Solutions Plus Bank has opened in Albertville, Ala. The bank debuted on Dec. 4, according to the Federal Deposit Insurance Corp. Organizers had to raise $27 million after they secured conditional FDIC approval in November 2024. The group applied with the FDIC  the previous August.

Organizers of the proposed Georgia Skyline Bank in Roswell have received conditional approval from the Federal Deposit Insurance Corp. The group, which submitted its application in June, needs to raise at least $25 million in initial capital prior to opening. Ryan Floyd would be the proposed bank’s president and CEO. He was a senior vice president at The Piedmont Bank. Floyd said in a past interview that his group aims to

FirstBanc of Alabama in Talladega has agreed to buy FBDC Financial in Fort Payne, Ala. The $1.1 billion-asset FirstBanc will pay $20.5 million in cash and stock for the parent of the $162 million-asset First Fidelity Bank. The deal is expected to close in the second quarter. One FBDC director will join FirstBanc's board. Olsen Palmer advised FirstBanc. Performance Trust Capital Partners advised FBDC.

Mechanics Bancorp in Walnut Creek, Calif., agreed to sell its Fannie Mae Delegated Underwriting and Servicing business line to Fifth Third Bancorp in Cincinnati. The $22.7 billion-asset Mechanics, which inherited the business through its purchase of HomeStreet, said that Fifth Third will pay an undisclosed cash amount for the line. The deal is expected to close in the first quarter. The business is a specialized division focused on multifamily lending

KeyCorp in Cleveland is taking itself off the board when it comes to buying banks. The company made it clear during its presentation at a conference hosted by Goldman Sachs, stating in a slide that it is "not pursuing depository acquisitions." Key also noted in a slide that it expects to repurchase about $200 million of its stock in the fourth quarter. The updates come shortly after HoldCo Asset Management

Home BancShares in Conway, Ark., has agreed to buy Mountain Commerce Bancorp in Knoxville, Tenn. Home said in a press release that it will pay $150.1 million in stock for the parent of the $1.8 billion-asset Mountain Commerce Bank. The merger, which is expected to close early in the first half of 2026, priced Mountain Commerce at 105% of its tangible book value. The transaction should be 1.4% accretive to 2026