Alabama One Credit Union in Tuscaloosa has agreed to buy First Bank in Wadley, Ala. The $956.8 million-asset credit union plans to buy the $130 million-asset bank from Peoples Independent Bancshares in Boaz, Ala., for an undisclosed amount. Peoples Independent will retain its other bank, Peoples Independent Bank. The deal is expected to close in the second quarter. First Bank has five branches. "Over time, we've seen many banks move

VWF Bancorp in Van Wert, Ohio, will soon have a new CEO. The $145.8 million-asset company disclosed in a regulatory filing that Michael Cahill will also become its president on Jan. 1. Cahill will also join VWF’s board. Cahill will succeed Mark Schumm, who will become chief risk officer. Cahill has been serving as a consultant to the bank since September. VWF had disclosed earlier this year as part of

Wells Fargo in San Francisco entered into a new consent order and agreed to pay more than $3.7 billion to settle a range of claims by the Consumer Financial Protection Bureau. The $1.9 trillion-asset Wells will pay more than $2 billion in redress to consumers and a $1.7 billion civil penalty to address the CFPB’s concerns with auto lending, mortgages and deposit accounts. The CFPB had claimed that Wells has

Kevin Tylus, who was CEO of Royal Bancshares of Pennsylvania when it was sold to Bryn Mawr Bank, has died. “We are saddened to learn of Kevin Tylus’ passing,” Bryn Mawr Trust posted on its LinkedIn page. “His contributions to the financial services industry and the community were many, offering his skills and expertise wherever they were needed across the many businesses, boards and community organizations he supported.” Tylus was

Simmons First National in Pine Bluff, Ark., will start 2023 with a new CEO. The $27.1 billion-asset company said in a press release that Bob Feldman, its president and chief operating officer, will become CEO on Jan. 1. Feldman, who will also become CEO of Simmons Bank, will lead Simmons’ “better bank” initiatives and day-to-day operations. Feldman will succeed George Makris Jr., who will remain chairman. Jay Brogdon, Simmons' chief

Banc of California in Santa Ana will soon have a new bank president as part of a series of executive shifts. The $9.4 billion-asset company said in a press release that Hamid Hussain will take over the role on Jan. 1. Hussain, who is president of commercial and real estate banking will succeed Jared Wolff, who remains the company’s president and CEO and the bank’s CEO. Banc of California also

Sandy Spring Bancorp in Olney, Md., is the latest bank to eliminate nonsufficient funds (NSF) fees for personal accounts. The $13.9 billion-asset company said in a press release that it also made changes to its overdraft policy and fees as part of a comprehensive review process. "Individuals and families want to be in control of their banking in ways that best meet their financial goals, regardless of when, how and

Genesis Bank in Newport Beach, Calif., is making a bigger push into banking homeowners associations. The $125 million-asset bank said in a press release that it has formed a HOA banking division to provide products and services to property management companies, homeowners and condo associations and their governing bodies. Products include online and mobile banking, treasury management, lockbox services, payment processing and fraud protection. “Our veteran team of bankers is