RBB Bancorp in Los Angeles has hired a former bank president to serve as its chief administrative officer. The $3.9 billion-asset company said in a press release that Gary Fan will oversee marketing and wealth management. He is also expected to manage operations in the New York and Chicago markets. Fan will also focus initiatives including mergers and acquisitions, digital banking, new products and services, fintech and specialty banking. "With

Summit Financial Group in Moorefield, W.Va., has agreed to buy PSB Holding in Preston, Md. The $3.9 billion-asset Summit said in a press release that it will pay $53.9 million in stock for the $594 million-asset parent of Provident State Bank. The deal is expected to close in the second quarter. “This transaction represents an exceptional opportunity for Summit to combine with a financially strong and exceptionally well-managed bank possessing

Northeast Bank in Portland, Maine, could sell up to $50 million of common stock as part of an at-the-market offering. The $1.7 billion-asset bank said in a press release that it had entered into an equity distribution agreement with Piper Sandler to offer and sell the stock. Northeast said any proceeds from the sale would be used for a variety of purposes, including the support of additional growth. Any sales

A special purpose acquisition company affiliated with Figure Technologies said it has a nonbinding letter of intent to buy a bank holding company with national mortgage lending and servicing operations. Figure Acquisition Corp. I, a San Francisco blank check company founded by Figure's management team, did not disclose the name of the bank, though it said the lender has $3 billion to $5 billion of assets. Michael Cagney, Figure Acquisition’s

Western Alliance Bancorp. in Phoenix has added a former executive from Huntington Bancshares to its board. The $65 billion-asset company said in a press release that Kevin Blakely will stand for election at next year’s annual meeting. Blakely is a senior adviser to Oliver Wyman. Blakely’s career includes being chief risk officer at Huntington and president and CEO of the Risk Management Association. Western Alliance also named Paul Galant, a

Partners Bancorp in Salisbury, Md., which recently terminated an agreement to sell to OceanFirst Financial, has a new CEO. The $1.7 billion-asset Partners said in a press release that John Breda succeeded Lloyd Harrison, who remains at the company as a senior executive vice president. Breda remains president and CEO of Bank of Delmarva, while Harrison is still CEO of Virginia Partners Bank. “I want to thank Lloyd for his

Kearny Financial in Fairfield, N.J., plans to reduce annual operating expenses by 5% to 10%. The $7.9 billion-asset company said in a press release that it will cut costs by reducing vendor expenses, automating or outsourcing “routine activities” and realigning its workforce. Kearny also restructured its balance sheet, selling $121.4 million of lower-yielding available-for-sale debt securities for an estimated after-tax loss of about $11 million. The company reinvested proceeds from

Northeast Bank in Portland, Maine, disclosed that it has lined up the purchase of nearly $1.2 billion of commercial real estate loans. The $1.7 billion-asset bank said in a press release that, since Sept. 30, it has bought, or has agreed to buy, the loans through a series of agreements. The bank did not disclose the identities of the sellers. Northeast said its CRE portfolio totaled $996.8 million at the