Professional football star Patrick Mahomes has become the second-biggest investor in American State Bank in Tyler, Texas. The $758 million-asset bank did not disclose how much Mahomes invested or his stake. American State said the investment will help it with expansion and digital transformation. “I opened my first account with American State Bank when I was just 16-years old,” Mahomes said in the release. “From my time at Texas Tech

Republic Bancorp in Louisville, Ky., has agreed to buy CBank in Cincinnati. The $6 billion-asset Republic said in a press release that it will pay $51 million in cash for the parent of Commercial Industrial Finance. CIF, based in St. Louis, provides equipment leasing and financing to businesses nationwide. The deal is expected to close in the first quarter. CBank has $271 million of assets, $214 million of loans and

Civista Bancshares in Sandusky, Ohio, has completed its purchase of an equipment finance company. The $3.3 billion-asset Civista said in a press release that the acquisition of Vision Financial Group closed earlier this month. Vision, founded in 1991, provides lending solutions to small- and midsize businesses and large corporate customers nationwide. As of June 30, the business has $89 million of loans and leases. It is expected to generate loan and

The Consumer Financial Protection Bureau has issued guidance about “junk fees,” targeting two practices that it believes are “likely unfair and unlawful under existing law.” The CFPB has its sights set on “surprise overdraft fees” such as those that occur when customers have sufficient funds to cover a debit charge at the time the bank authorized it. Regions Financial in Birmingham, Ala., recently agreed to a $191 million settlement tied

The Western Bankers Association is looking for a new leader. The association announced that Stephen Andrews will resign as its president and CEO, effective at the end of this month. Andrews, who is also stepping down as the leader of the California Bankers Association, has held his posts since May 2019. The WBA said that Kevin Gould, director of government relations, and Yvette Ernst, chief of staff and corporate secretary,

Finward Bancorp in Munster, Ind., is continuing to close branches. The $2.1 billion-asset company, which closed two branches in July, said in a press release that it will shutter three more locations by the end of this year. Finward also closed a branch in 2021. Finward said that each closure will reduce operational costs by roughly $250,000, excluding personnel expenses. The company said its remaining 26 branches are being analyzed

Collins Community Credit Union in Cedar Rapids, Iowa, is the latest credit union to announce layoffs. The $1.6 billion-asset credit union cut 38 positions on Oct. 6, according to published reports. Most of the cuts came in its mortgage operations. The announcement comes weeks after GreenState Credit Union in North Liberty, Iowa, cut 42 positions, or about 5% of its workforce. The $10.7 billion-asset GreenState said most of the cuts

Finexio, an Orlando, Fla., fintech, has raised $35 million in Series B funding round that included several banks among the investors. Finexio, a B2B accounts payables Payments-as-a-Service company, said in a press release that J.P. Morgan was the biggest investor. Patriot Financial Partners, Discover Financial Services, Valley National Bancorp and Trogg Hawley Capital also participated. National Bank Holdings and Mendon Venture Partners co-led the fundraising round. “We are thrilled to