Strategic Insights into Banking & Fintech
Gesa Credit Union in Richland, Wash., has agreed to buy Willamette Valley Bank in Salem, Ore. Gesa said in a press release that it will pay $43 to $45 a share in cash for the $465 million-asset Willamette Valley. The deal is expected to close in the first half of 2027. Following the sale, Willamette Valley's holding company will dissolve, and any remaining assets will be distributed to its stockholders.
Cordant emerged from stealth after raising $8 million in a seed round. The company, which monitors money-moving systems for financial institutions, said in a press release that the seed round was co-led by Oak HC/FT and Motive Partners. "Money moves in real time, but understanding where a transaction went, which systems and partner acted, who authorized it and whether the records agree still depends on weekly and monthly reporting," co-founder
Amador Bancshares in Las Cruces, N.M., has agreed to buy BBS Corp. in Socorro, N.M. Amador, the holding company of the $1.2 billion-asset Citizens Bank, did not disclose the price it will pay for the parent of the $186 million-asset First State Bank. The deal is expected to close in the fourth quarter. First State has four branches. “We are delighted to welcome the customers and employees of First State
First Financial Bancorp. in Cincinnati has agreed to buy Finward Bancorp in Munster, Ind. The $22.4 billion-asset First Financial said in a press release that it will pay $208 million in stock for the $2 billion-asset Finward. The deal, which is expected to close in the fourth quarter, priced Finward at 140% of its tangible book value. The acquisition "is expected to strategically expand First Financial’s ability to serve the
FinWise Bancorp in Murray, Utah, has acquired the technology platform and related assets of Tallied Technologies. FinWise did not disclose how much it paid for the credit card issuance and processing platform behind its co-branded credit card programs. FinWise now owns its card technology stack from application through issuing, processing and servicing, retaining the fees, interchange and interest economics for programs running on the Tallied platform. Tallied's engineering and operations
Future Financial Bankshares has agreed to buy Palmer Bancshares in Palmer, Texas. Future Financial, an entity formed to buy a bank, did not disclose what it will pay for the parent of the $120.4 million-asset Commercial State Bank. "What began as conversations, relationships, and an unwavering belief that a community bank could be built around a shared vision is one step closer to becoming reality through this announcement," Jeff Kesler,
Lumin Digital in San Ramon, Calif., raised $70 million. The digital platform said in a press release that the new funding round will support advancements in AI, payments, CRM, and lending. The capital raise follows a recent $45 million growth equity financing led by Light Street Capital. “We’ve built Lumin around a simple idea: the financial institutions that depend on our platform should have a stake in it,” Jeff Chambers,
Down Range Capital Opportunity Fund is pushing the board of Cashmere Valley Bancorp in Cashmere, Wash., to sell the bank. Down Range's letter leans on four main points: No credible succession plan. CSHX has had only two CEOs since 1993 — Ken Martin and Greg Oakes — with a smooth internal handoff between them. Oakes's retirement breaks that pattern, and Down Range argues a national CEO search is historically tied
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