Strategic Insights into Banking & Fintech

Farmers National to buy Middlefield Banc Corp. in Ohio

Farmers National to buy Middlefield Banc Corp. in Ohio

Farmers National Banc Corp. in Canfield, Ohio, has agreed to buy Middlefield Banc Corp. in Middlefield, Ohio. The $5.4 billion-asset Farmers said in a press release that it will pay $299 million in stock for the $2 billion-asset Middlefield. The deal, which is expected to close in the first quarter, priced Middlefield at 163.5% of its tangible book value. Two Middlefield directors will join Farmers' board. The acquisition "brings together

October 22, 2025
Bank of Burlington in Vermont rebrands as The Business Bank

Bank of Burlington in Vermont rebrands as The Business Bank

Bank of Burlington in Vermont has rebranded as The Business Bank. The bank said the new name “reflects the success" of its business model and a “clear focus to serve business customers, while continuing to grow across Vermont and expanding into New Hampshire and Massachusetts.” “Change is crucial and inevitable,” Geoffrey Hesslink, the bank's chairman and CEO, said in a statement. “We started this bank to return high-service, relationship-driven banking

October 21, 2025
Allied Solutions, ABA invest in fintech PortX

Allied Solutions, ABA invest in fintech PortX

Allied Solutions and the American Bankers Association have invested in PortX, an AI-powered integration and data platform. The size of the investments wasn't disclosed. “At Allied, we are committed to equipping our clients with the most innovative and future-proofed solutions on the market,” Pete Hilger, Allied Solutions' CEO, said in a press release. “Our investment in PortX is not just about technology—it’s about delivering real-world value to financial institutions that

October 21, 2025
HBT Financial to buy CNB Bank Shares in Illinois

HBT Financial to buy CNB Bank Shares in Illinois

HBT Financial in Bloomington, Ill., has agreed to buy CNB Bank Shares in Carlinville, Ill. The $5 billion-asset HBT said in a press release that it will pay $170.2 million in cash and stock for the $1.8 billion-asset CNB. The deal is expected to close in the first quarter. CNB Bank has $1.3 billion of loans and $1.5 billion of deposits. "Both our banks have strong local roots in central

October 20, 2025
Higher provision reins in profit at Washington Trust in Rhode Island

Higher provision reins in profit at Washington Trust in Rhode Island

Washington Trust Bancorp in Westerly, R.I., reported lower quarterly profit after addressing two problematic loans. The $6.7 billion-asset company said in a press release that its third-quarter earnings fell by 1.2% from a year earlier, to $10.8 million. The quarter included a $7 million loan-loss provision that reflected $11.3 million in chargeoffs tied to a pair of commercial loan relationships. The first loan relationship is a participation in a shared national

October 20, 2025
Broadway in Calif. to record goodwill impairment charge, restate past results

Broadway in Calif. to record goodwill impairment charge, restate past results

Broadway Financial in Los Angeles warned that it will record a $25.9 million goodwill impairment charge. The company also disclosed that it will restate its financial statements for 2023, 2024 and the first quarter of 2025 due to "an error related to certain loan participation agreements." Broadway said the goodwill impairment charge, which followed its annual impairment analysis, will occur in its third quarter.

October 17, 2025
Cornerstone Capital to buy Peoples Bancorp in Texas

Cornerstone Capital to buy Peoples Bancorp in Texas

Cornerstone Capital Bancorp in Houston has agreed to buy Peoples Bancorp in Lubbock, Texas. The companies expect to close the deal in the first quarter. The price wasn't disclosed. Cornerstone would have $3.1 billion of assets after completing the acquisition. Larry Allen, Peoples' chairman and CEO, will join Cornerstone's board and serve as area chairman for the Peoples Bank division. The acquisition "reflects a strong strategic fit, bringing together two

October 17, 2025
U.S. Bancorp creates digital assets and money movement division

U.S. Bancorp creates digital assets and money movement division

U.S. Bancorp in Minneapolis has formed a digital assets and money movement division. The company, which recently returned to offering crypto custody services for institutional investment managers, said that Jamie Walker will lead the division. Walker will remain head of merchant payment services and CEO of Elevon, until a successor is named.

October 17, 2025