Former Rep. Barney Frank, the Massachusetts Democrat who helped create the rules that reshaped modern banking regulation after the 2008 financial crisis, had died. Frank, who was 86, served in Congress for 32 years. As chairman of the House Financial Services Committee during the financial crisis and its aftermath, he worked with former Sen. Chris Dodd to author the 2010 Dodd-Frank Act. The law introduced sweeping reforms that expanded oversight

Community Heritage Financial in Middletown, Md., has sold underperforming securities. The company said in a press release that it sold lower-yielding securities with a $73.3 million book value at a $3.9 million after-tax loss. The company plans to use the net proceeds to buy higher-yielding securities, with a projected earnback period between three and four years. The bank's regulatory capital will decline by about $3.9 million as a result of

Bank First in Manitowoc, Wis., has agreed to buy PSB Holdings in Wausau, Wis. The $6.1 billion-asset Bank First said in a press release that it will pay $202.9 million in stock for the parent of the $1.5 billion-asset Peoples State Bank. The deal is expected to close in the fourth quarter. The acquisition "brings together two organizations that believe deeply in relationship-based banking and the role community banks play

Houston Bank & Trust has opened after receiving full regulatory approval. The organizers said in a LinkedIn post that they have opened a temporary office. The group had to raise $35 million in capital to satisfy the Federal Deposit Insurance Corp. The group first applied with the FDIC in February 2022 to form Houston Bank of Commerce & Trust, reapplying in May 2023. In March 2024, the group shortened the proposed

Preferred Bank in Los Angeles delivered some early positive news for its second quarter. The bank said in a press release that it entered into a settlement agreement on a previously charged-off C&I loan. The agreement calls for the bank to receive a total of $5.7 million over an 11-month period. The chargeoff was recorded two years ago.

Alerus Financial in Minneapolis sold three nonperforming loans. The company said the loans were tied to a construction, land and development relationship with a total net book balance of $33.6 million on March 31. The loans were on nonaccrual and represented the largest nonperforming relationship in the company's portfolio, representing 62.3% of total nonperforming loans. As of March 31, the loans carried specific reserves totaling $3.1 million. Nonaccrual interest of $1.6

Amerant Bancorp in Coral Gables, Fla., has a permanent leader. The company said in a press release that Carlos Iafigliola had become president and CEO. He had been interim CEO since November. “Following a comprehensive search process, the board determined that Carlos is the right executive to lead Amerant into its next phase of value creation," Odilon Almeida, Amerant's chairman, said in the release. "Carlos has consistently demonstrated deep knowledge of

GBank Financial Holdings in Las Vegas has a new bank CEO. The company said in a press release that Jeffrey Newgard will also become president of GBank on June 8. Newgard, who was chairman, president and CEO of Bank of Idaho from 2015 to 2025, will succeed Ed Nigro, who will remain executive chairman. Bank of Idaho was sold to Glacier Bancorp. "Jeff Newgard’s demonstrated knowledge in banking, capital markets,