Community bankers said cybersecurity and credit risk are their biggest challenges in 2023. About 85% of the more than 100 respondents polled by the Risk Management Association that they were concerned about cybersecurity, while 84% pointed to credit risk. The survey, conducted last summer, featured executives at banks with $10 billion or less of assets. Only half of the bankers identified regulatory compliance as their biggest challenge. Roughly 56% of

Carver State Bank in Savannah, Ga., didn’t have to look to far to find its next leader. Robert James Sr. is set to retire from the $79.5 million-asset bank. His son, Robert James II, will take over the bank’s day-to-day operations, according to Georgia Public Broadcasting News. “My son has become extremely involved in the bank,” the elder James told the website. “He was a part of our succession plan

FirstPerryton Bancorp in Perryton, Texas, has raised $37.3 million through a private placement of common stock. The parent of the $1.5 billion-asset FirstBank Southwest completed the placement on Dec. 29, according to data compiled by Performance Trust Capital Partners. Banks raised nearly $4.2 billion in 2022 from selling common stock, including $168 million in the fourth quarter, according to Performance Trust.

Silvergate Capital in La Jolla, Calif., said it will cut 40% of its workforce and table plans for a blockchain-based payment solution after losing $8.1 billion of digital asset deposits during the fourth quarter. The $15.5 billion-asset company, which is dealing with deposit outflows in its digital assets business, said in a press release that it will reduce headcount by about 200 positions “to account for the economic realities facing

Fulton Financial in Lancaster, Pa., has promoted an insider to serve as president of its private bank. The $26 billion-asset company said in a press release that Dara Bachman is now responsible for leading a team of professionals charged with developing customized wealth management and banking solutions for high-net-worth clients. Bachman, who joined Fulton in April 2021, previously served at director of family wealth. “Dara is the right candidate to

First Financial Bancorp in Cincinnati has acquired financial advisory firm Brady Ware Capital. The $16.6 billion-asset company said in a press release that it bought the Dayton, Ohio, firm’s assets. The price wasn’t disclosed. Brady Ware Capital advises owners of small and midsize businesses on M&A and other financial moves. “With the addition of investment banking capabilities from Brady Ware Capital, First Financial … further expands the products and services

First State Bank and Trust in Tonganoxie, Kan., has a new president and CEO. The $437 million-asset bank named Jilinda White as its CEO and Chuck Kirmse as president, according to the Kansas City Business Journal. They succeeded Bill White, who retired. White also serves as the bank’s vice chairman and president of Tonganoxie Bankshares, First State’s holding company. Kirmse was appointed to the bank’s board. First State also promoted

Regent Bank in Tulsa, Okla., has hired a veteran tech executive to oversee a push into venture banking. The $1.1 billion-asset bank said in a press release that Peter Mullen had become its director of venture and tech banking, where he will lead relationship development for tech communities in Oklahoma and Missouri. "Tech and innovation are the future of our economy," Sean Kouplen, Regent’s chairman and CEO, said in the release. "We are