A group of banking and legal professionals is seeking to open a national bank in Columbus, Ohio, that would weave stablecoins into its business plan. The proposed Erebor Bank aims to offer traditional banking products, along with virtual currency-related products and services, to businesses and individuals. The target market includes technology companies focused on virtual currencies, AI, defense, and manufacturing. Other potential clients are payment service providers, investment funds, and

Nissan Motor Acceptance Co., the financial services arm of Nissan North America, applied for an industrial loan charter. The Franklin, Tenn., company said in a press release that it submitted its application with the Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions to form Nissan Bank U.S. The industrial bank would be based in Salt Lake City, Utah. The proposed bank will focus on commercial financing for

The Federal Reserve approved an application by the founder of Increase, a customer-facing API company, to buy Twin City Bancorp in Longview, Wash. Darragh Buckley is also listed on his LinkedIn account as a director of Washington Business Bank. Twin City is the holding company for the $70 million-asset Twin City Bank. Buckley filed to personally buy Twin City; it is unclear if his strategy involves pairing the bank with

When Eastern Bankshares in Boston first approached HarborOne Bancorp in Brockton, Mass., last fall, it was just one of many conversations that HarborOne had fielded over the years. But what began as an informal interest quickly turned into a carefully choreographed courtship — one that would test both companies’ resolve over months of talks, market volatility, and multiple revised bids. The $25 billion-asset Eastern agreed in April to buy the

First Guaranty Bancshares in Hammond, La., swapped common stock for a subordinated note. The $3.8 billion-asset company disclosed in a regulatory filing that it struck a deal with Edgar Ray Smith III to provide the director and shareholder with nearly 2 billion shares of common stock for $15 million of subordinated debt. The note was due on June 21. First Guaranty, which hired Michael Mineer as CEO in May 2024,

An investor group led by one of Martin Luther King Jr.’s children and a former Trump Administration official has bought and rebranded Holladay Bank and Trust in Salt Lake City. Redemption Bank was created when the group acquired the $65 million-asset Holladay. The $68 bank is now a minority depository institution (MDI). Ashley Bell, a former White House policy advisor and Small Business Administration regional administrator, is the executive chairman

Hoyne Bancorp in Oak Park, Ill., plans to raise up to $77 million by converting Hoyne Savings MHC from a mutual to a stock holding company. The $467 million-asset company said in a regulatory filing that it plans to sell 5.1 million to 6.9 million shares of common stock. The offering could go up to 7.9 million shares if there is enough demand. Hoyne plans to invest half of the

Hope Bancorp in Los Angeles sold underwater securities at a $40 million pretax net loss. The company disclosed in a regulatory filing that it sold securities with a fair value of $422 million. Net proceeds from the sale were used to buy higher-yielding securities and collateralized loan obligations. The repositioning should increase Hope’s interest income by about $12 million annually. It should take the company about three years to earn