First Internet Bancorp in Fishers, Ind., and MainStreet Bancshares in Fairfax, Va., remain committed to their Banking-as-a-Service platforms. BaaS has gained more scrutiny from regulators, with the Office of the Comptroller of the Currency hitting Blue Ridge Bank with an enforcement order and the Consumer Financial Protection Bureau expressing an interest in banks’ dealings with fintech. “We remain focused on our fintech and Banking-as-a-Service initiatives as a way to grow

Silvergate Capital in La Jolla, Calif., is no longer on pace to create its own stablecoin in 2022. Alan Lane, the $15.5 billion-asset company’s CEO, made the disclosure during a conference call to discuss quarterly earnings. He said Silvergate is continuing to work with its regulators while also working on building compliance and operational “muscle.” “We're certainly disappointed that it looks like we're gonna miss our goal of launching it

U.S. Bancorp in Minneapolis is on pace to buy MUFG Union Bank in San Francisco on Dec. 1. The $601 billion-asset company said in a press release that it received a green light from the Japanese Financial Services Agency, completing all the approvals needed to complete the $8 billion acquisition. The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. all recently approved the deal. “We

MidWestOne Financial Group in Iowa City has its next CEO lined up. The $6.4 billion-asset company said in a press release that Chip Reeves will take over the role on Nov. 1. Reeves previously served as president and CEO of Beach Bancorp in Fort Walton Beach, Fla., which was recently sold to First Bancshares in Hattiesburg, Miss. Reeves will succeed Charlie Funk, who is retiring. Len Devaisher, MidWestOne’s president and

Citizens Financial Services in Mansfield, Pa., has agreed to buy HV Bancorp in Doylestown, Pa. The $2.2 billion-asset Citizens said in a press release that it will pay $67.4 million in cash and stock for the $571 million-asset HV Bancorp. The deal is expected to close in the first half of 2023. HV Bancorp has $388 million of loans and $482 million of deposits. Travis Thompson, HV Bancorp’s CEO, and

City Holding in Charleston, W.Va., has agreed to buy Citizens Commerce Bancshares in Versailles, Ky. The $5.9 billion-asset City said in a press release that it will pay $61 million in stock for the $354 million-asset Citizens. The deal is expected to close in the first quarter. Citizens has five branches, $319 million of deposits and $262 million of loans. “Our leadership recognized this strategic partnership to enhance our market

TrustCo Bank Corp NY in Glenville has appointed the president and CEO of the Florida Bankers Association to its board. The $6.2 billion-asset company said in a press release that Alex Sanchez had also joined the board of its bank. Sanchez was appointed to the company’s audit, compensation, compliance, fiduciary, nominating and corporate governance, and risk committees. “We are very pleased to have … Sanchez join our board,” Robert McCormick,

Liberty Bank in Middletown, Conn., is the latest bank to eliminate nonsufficient fund (NSF) and other fees. The $7.4 billion-asset bank said in a press release that it also ended uncollected funds and certain transfer fees tied to consumer and business deposit accounts. “We continuously identify and implement strategies to more effectively serve our personal and business banking customers,” David Glidden, Liberty’s president and CEO, said in the release. Liberty