Silvergate Capital in La Jolla, Calif., said it will cut 40% of its workforce and table plans for a blockchain-based payment solution after losing $8.1 billion of digital asset deposits during the fourth quarter. The $15.5 billion-asset company, which is dealing with deposit outflows in its digital assets business, said in a press release that it will reduce headcount by about 200 positions “to account for the economic realities facing

Fulton Financial in Lancaster, Pa., has promoted an insider to serve as president of its private bank. The $26 billion-asset company said in a press release that Dara Bachman is now responsible for leading a team of professionals charged with developing customized wealth management and banking solutions for high-net-worth clients. Bachman, who joined Fulton in April 2021, previously served at director of family wealth. “Dara is the right candidate to

First Financial Bancorp in Cincinnati has acquired financial advisory firm Brady Ware Capital. The $16.6 billion-asset company said in a press release that it bought the Dayton, Ohio, firm’s assets. The price wasn’t disclosed. Brady Ware Capital advises owners of small and midsize businesses on M&A and other financial moves. “With the addition of investment banking capabilities from Brady Ware Capital, First Financial … further expands the products and services

First State Bank and Trust in Tonganoxie, Kan., has a new president and CEO. The $437 million-asset bank named Jilinda White as its CEO and Chuck Kirmse as president, according to the Kansas City Business Journal. They succeeded Bill White, who retired. White also serves as the bank’s vice chairman and president of Tonganoxie Bankshares, First State’s holding company. Kirmse was appointed to the bank’s board. First State also promoted

Regent Bank in Tulsa, Okla., has hired a veteran tech executive to oversee a push into venture banking. The $1.1 billion-asset bank said in a press release that Peter Mullen had become its director of venture and tech banking, where he will lead relationship development for tech communities in Oklahoma and Missouri. "Tech and innovation are the future of our economy," Sean Kouplen, Regent’s chairman and CEO, said in the release. "We are

Renasant in Tupelo, Miss., has acquired commercial finance company Republic Business Credit. The $16.5 billion-asset company said in a press release that it bought the New Orleans finance company, formerly known as Continental Republic Capital, on Dec. 30. The price wasn’t disclosed. Republic Business Credit, founded in 2011, is a national platform focused on factoring and asset-based lending. It has made more than $8 billion of factoring originations since its

Brent Beardall, president and CEO of Washington Federal in Seattle, is in stable condition after a private plane he was on crashed in Provo, Utah. The $20.8 billion-asset company said in a press release that Beardall was taken by ambulance to the hospital for surgery with multiple injuries, including broken bones and lacerations. He is expected to make a full recovery. Beardall has taken a temporary leave of absence while

A state bank regulator has been appointed to oversee fintech developments for the National Credit Union Administration. The NCUA said in a press release that Charles Vice had become its director of financial technology and access. He will serve as the principal adviser to the agency’s board in areas such as fintech, cryptocurrency, blockchain and distributed ledger technology. “Charles is not only a forward thinker, but he’s also a dedicated