Washington Federal in Seattle has agreed to buy Luther Burbank in Santa Rosa, Calif.   The $20.8 billion-asset Washington Federal said in a press release Monday that it will pay $654 million in stock for the $7.9 billion-asset parent of Luther Burbank Savings. The deal, which is expected to close as early as the second quarter, priced Luther Burbank at 97% of its tangible book value.   The move will

U.S. Bancorp in Minneapolis said its technology and operations leader will retire. The $601 billion-asset company said in a press release that Jeff von Gillern, vice chair of technology and operations services, will step down in late 2023. He Gillern will remain with U.S. Bancorp as it integrates MUFG Union Bank. “Jeff has helped to elevate our technology profile and reputation inside and outside the organization, and he has strengthened

PB Bankshares in Coatesville, Pa., has agreed to sell its corporate headquarters office. The $377 million-asset company disclosed in a regulatory filing that it will sell the office, which includes a branch, for $950,000. PB will lease a portion of the property, including the branch, from the buyer.

Silvergate Capital in La Jolla, Calif., highlighted its access to liquidity in light of volatility tied to digital assets. Binance earlier signed a letter of intent to buy crypto exchange FTX, with Binance CEO Changpeng Zhao tweeting about a "significant liquidity crunch” at FTX. Binance quickly backed away, with Zhao citing issues "beyond our control or ability to help." The $15.5 billion-asset Silvergate noted in a press release Wednesday that it

The president of First Foundation in Dallas has resigned. The $12.3 billion-asset company said in a press release Tuesday that David DePillo, who had been president since 2015, had stepped down. Kevin Thompson, the company’s chief financial officer, succeeded DePillo on an interim basis. The company said it plans to conduct a search process for a permanent president. “The entire executive management team appreciates the service David has given to First

FV Bank in San Juan, P.R., has launched a digital asset custody and settlement service. The bank said in a press release that it will serve U.S. and international clients. It will initially handle Bitcoin with the addition of Ethereum, USDC and USDT custody in coming weeks. More digital assets will be added over time. FV Bank said it platform has “robust” compliance and Know Your Customer (KYC), Bank Secrect

OceanFirst Financial in Red Bank, N.J., and Partners Bancorp in Salisbury, Md., have terminated their planned merger after being unable to secure all the necessary regulatory approvals.   The $12.7 billion-asset OceanFirst and the $1.7 billion-asset Partners said in a press release that both boards approved the decision. Each company will bear its own costs and no termination fee will be applied.   OceanFirst agreed to buy Partners in November

Auburn National Bancorp. in Auburn, Ala., has lined up a new CEO. The $1 billion-asset company said in a press release Tuesday that David Hedges will also succeed Bob Dumas as president on Jan. 1. Dumas will remain Auburn National’s chairman. Hedges, the company’s chief financial officer, will also join the board. James Walker, Auburn National’s chief accounting officer, will succeed Hedges as CFO. Dumas has been the president and CEO