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

Signature Bank in New York could reduce its digital assets deposits by more than $8 billion in the coming weeks. The $114.5 billion-asset bank said during a Goldman Sachs conference that it plans to reduce its exposure to digital assets deposits to 15% to 20% of total deposits, or $8 billion to $10 billion, over time. Signature had $23.5 billion of digital-asset-related deposits on Nov. 14, or roughly 23% of

Veridian Credit Union in Waterloo, Iowa, has agreed to buy American Investors Bank and Mortgage in Eden Prairie, Minn. The $6.7 billion-asset Veridian said in a press release that it expects to complete the purchase of the $113 million-asset American in July. The price wasn’t disclosed. Veridian would enter Minnesota if it buys the bank. "We're excited to welcome the employees and clients of AIBM to Veridian and eager to