First Federal Bank of Twin Falls in Idaho has created a wealth and investment management division. The $1.4 billion-asset bank said that the new division will offer investment advising, retirement planning, estate planning, tax optimization and wealth management strategies. “Our members will have access to products and services to further enhance their financial well-being,” Jason Meyerhoeffer, the bank’s president and CEO, said in a press release. “We are also thrilled

Add Zions Bancorp. in Salt Lake City to the growing list of banks cutting jobs. The $87.2 billion-asset company said its workforce will be 3% lower in early 2024 compared to a year earlier. That equates to roughly 300 positions. The cuts will be broad-based in terms of geography and departments, with much of the reductions involving jobs that are not client-facing. "I talk to our peers, and everybody's looking

Owners Bank, the digital bank division of Liberty Bank in Middletown, Conn., has launched a new business credit card. The Owners Bank Business Credit Card is open to businesses of all sizes, including sole proprietors. The credit limit can be allocated as needed among up to six cardholders. “We believe business credit cards are a necessity for maintaining and growing a business of any size,” David Mitchell, Owners’ CEO, said

Atlantic Union Bankshares in Richmond, Va., acted quickly to seal a deal to buy American National Bankshares in Danville, Va.. The $20.6 billion-asset Atlantic Union agreed on July 24 to buy the $3.1 billion-asset American National for $416.8 million. Talks began just three months earlier when John Asbury, Atlantic Union’s president and CEO, met with Jeffrey Haley, his counterpart at American National, according to a regulatory filing tied to the

OceanFirst Financial in Red Bank, N.J., will report higher chargeoffs in the third quarter due to a loan participation. The $13.5 billion-asset company disclosed in a regulatory filing that it has a $17 million participation in a $98 million credit to a borrower managed by a real estate fund. OceanFirst said it could end up charging off 45% to 50% of the exposure. The credit, originated in June 2019 and

GreenState Credit Union in North Liberty, Iowa, is looking for a new CEO. The $11.2 billion-asset credit union, a serial bank acquirer, said that Jeff Disterhoft had retired. Todd Fanning, GreenState’s chief financial officer, was named interim CEO. The credit union hired executive research firm Spencer Stuart to identify a permanent CEO.  Disterhoft, who joined GreenState in 1995, became CEO four years later. Fanning joined the credit union as its

Three community banks raised a total of $50 million in capital by completing private placements of common stock. Illinois National Bancorp in Springfield brought in $29.5 million on Aug. 25, according to data compiled by Performance Trust Capital Partners. Illinois National is the holding company for the $2 billion-asset INB National Association. Synergy Bancshares in Houma, La., raised $14.4 million. Its private placement closed on Aug. 28. Synergy is the

KeyCorp in Cleveland aims to reduce its risk-weighted assets by $10 billion this year. The $195 billion-asset company disclosed during the Barclays Global Financial Services Conference that it will exit non-relationship businesses and shed non-strategic assets. "We will continue to prioritize full relationships,” Christopher Gorman, Key’s chairman, president and CEO, said during his presentation. The bank also plans to return to securitizing and selling student loans. "We have literally ripped