Another new bank is being planned in Georgia. Seven organizers have applied with the Federal Deposit Insurance Corp. to create Private Bank & Trust in Gainesville. The application wasn't immediately available. The group’s members, based on a legal notice, are Brian Daniel, Greg Barrett, William Bagwell Jr., Ashton Lewis, Brian Rochester, Wendell Starke and Bo Weber. Barrett would serve as president and CEO; Daniel would become chairman.

The former president and CEO of First National Bank of Lindsay faces 18 charges tied to the Oklahoma bank's October 2024 failure. Danny Seibel was indicted for bank fraud, making false entries in the books and records of a financial institution, obstructing an exam, and failing to implement an anti-money laundering program. The Office of the Comptroller of the Currency closed the bank “after identifying false and deceptive bank records

ACNB Corp. in Gettysburg, Pa., repositioned its securities portfolio. The company disclosed in a press release that it sold roughly $74.6 million of lower-yielding securities at an after-tax loss of about $2.8 million. Net proceeds of $71.1 million were used to buy higher-yielding securities, including agency multifamily securities, agency collateralized mortgage obligation securities and agency mortgage-backed securities. The moves should improve the portfolio's interest income by $2.6 million over the

Denali State Bank in Fairbanks, Alaska, is set to have a new leader. Steve Lundgren is retiring as the bank's president and CEO after leading it for the past 13 years. Ryan Strong, who was the chief banking officer at First National Bank of Alaska, succeeded Lundgren.

SoFi Technologies in San Francisco plans to raise $1.5 billion through a public offering. The lending fintech said in a press release that it will let underwriters sell an additional 15% of shares if there is enough demand, which would boost the offering's proceeds by $225 million. SoFi plan to use the proceeds for general corporate purposes, such as enhancing its capital position, increasing optionality and enabling further efficiency of

Kobalt Labs has raised $11 million in a Series A funding round. The fintech, which uses AI to automate and strengthen risk and compliance workflows at financial institutions, said in an announcement that the funding round was led by Ali Rowghani at First Harmonic. Alloy Labs and Y Combinator also participated in the round.

Nuuvia, a credit union service organization (CUSO) that is building a youth banking and intelligent lifecycle banking platform, raised $4 million. VyStar Credit Union and Desert Financial Credit Union were the investors; each will appoint representatives to the CUSO's board and product technology and innovation council. “Creating meaningful partnerships with institutions like VyStar Credit Union and Desert Financial Credit Union is central to our vision of redefining the future of

Delfi, an AI-native risk management platform, and CFO Consulting Partners, a firm of former finance executives, have launched an offering to help banks and credit unions improve balance-sheet discipline. The partnership reflects a growing industry trend, where institutions are seeking faster, clearer analytics paired with experienced guidance. The partnership combines Delfi’s real-time analytics platform with up to five hours of tailored financial advice from CFOCP’s senior team. Institutions can also