Renasant in Tupelo, Miss., has acquired commercial finance company Republic Business Credit. The $16.5 billion-asset company said in a press release that it bought the New Orleans finance company, formerly known as Continental Republic Capital, on Dec. 30. The price wasn’t disclosed. Republic Business Credit, founded in 2011, is a national platform focused on factoring and asset-based lending. It has made more than $8 billion of factoring originations since its

Brent Beardall, president and CEO of Washington Federal in Seattle, is in stable condition after a private plane he was on crashed in Provo, Utah. The $20.8 billion-asset company said in a press release that Beardall was taken by ambulance to the hospital for surgery with multiple injuries, including broken bones and lacerations. He is expected to make a full recovery. Beardall has taken a temporary leave of absence while

A state bank regulator has been appointed to oversee fintech developments for the National Credit Union Administration. The NCUA said in a press release that Charles Vice had become its director of financial technology and access. He will serve as the principal adviser to the agency’s board in areas such as fintech, cryptocurrency, blockchain and distributed ledger technology. “Charles is not only a forward thinker, but he’s also a dedicated

An investor group is looking to form a holding company to buy First National Bank of Brookfield in Illinois. Brookfield HoldCo includes five individuals, including Phil Richard, the $316 million-asset bank’s president. Michael Ryan, the bank’s chairman, and two other directors are a part of the group, which applied with the Fed in mid-December for BHC status. Edward Fitzpatrick, a retired lawyer, is Brookfield HoldCo’s chairman. “At the bank level,

Banks dealing with digital assets must be mindful of potential fraud, legal uncertainties, volatility and inaccurate or misleading disclosures, federal regulators said in a joint statement. The Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency said the statement reflected “the significant volatility and vulnerabilities” witnessed in the cryptocurrency space over the past year. The statement also warned about potential contagion risk in the

Blue Ridge Bankshares in Charlottesville, Va., which was ordered last year to improve its oversight of fintech partnerships, has hired an outsider to serve as president of its fintech division. The $2.9 billion-asset company said in a press release that Kirsten Muetzel is responsible for managing a portfolio of partners, strengthening regulatory compliance and overseeing its Banking-as-a-Service (BaaS) platform. Muetzel worked at the Federal Reserve for nearly 11 years, most

First Merchants in Muncie, Ind., has been freed from a 2019 order from the Department of Justice tied to its fair lending practices. The $17.7 billion-asset company disclosed in a regulatory filing that the U.S. District Court for the Southern District of Indiana approved a joint request from its bank and the DoJ to terminated the order. The order, which was intended to have a four-year term and went into

Trustmark in Jackson, Miss., will recognize a $100 million litigation settlement expense in the fourth quarter after settling longstanding litigation involving Stanford Financial Group. The $17.2 billion-asset Trustmark said the settlement is tied to a lawsuit that was initially filed in August 2009 in the District Court of Harris County, Texas. Trustmark did not admit or deny wrongdoing in connection with the settlement. Trustmark said it determined that it is