Palmetto Citizens Federal Credit Union in Columbia, S.C., has hired a former bank executive as its next CEO. The$1.3 billion-asset credit union said that Robert Dozier will also become its president. He will succeed Nick Wodogaza, who is retiring on Jan. 31. Dozier recently stepped down as chief operating officer at First Reliance Bancshares in Florence, S.C. First Reliance did not disclose where he was going when it announced his

Silvergate Capital in La Jolla, Calif., said it "conducted extensive due diligence” before agreeing to work with FTX and Alameda Research. “We take risk management and compliance extremely seriously,” CEO Alan Lane wrote in a public letter defending how the $15.5 billion-asset company vets and banks digital asset firms. Silvergate is required by law to identify a potential client’s beneficial owner, funding sources and the purpose and expected use of

Comerica in Dallas has opened its first offices in Georgia and South Carolina. The $84 billion-asset company said in a press release that the move is part of its 2021 initiative to form a Southeast market. The effort includes commercial banking offices in the South Carolina cities of Columbia and Greenville and a private banking office in Atlanta. "We are excited to introduce Comerica's relationship banking approach and long history

Texas Regional Bank in Harlingen, Texas, has entered into insurance brokerage after buying an agency. The $2.5 billion-asset bank said in a press release that it bought Mission Duncan Insurance in Mission, Texas, on Dec. 2. The price wasn’t disclosed. "We place a heavy emphasis on relationships," Michael Scaif, Texas Regional’s chairman and CEO, said in the release. "Our goal is to guide our customers on their financial journeys, and

NBT Bancorp in Norwich, N.Y., has agreed to buy Salisbury Bancorp in Lakeville, Conn. The $11.6 billion-asset NBT said in a press release that it will pay $204 million in stock for the $1.5 billion-asset Salibury. The deal is expected to close in the second quarter. Salisbury has 14 branches, $1.3 billion of deposits and $1.2 billion of loans. “The organizational values upheld by the Salisbury team align very well

Grand River Commerce in Grandville, Mich., has formed a mortgage company. The $527 million-asset company said that Grand River Mortgage has a national platform. Bob Bilotti, the company’s chairman, president and CEO, told MiBiz that the mortgage company should secure licensing in about 46 states by early 2023. About 60 people work for the mortgage company, which was backed by more than $8 million of capital. The mortgage industry “has

SVB Financial Group in Santa Clara, Calif., has filled two key executive posts. The $212.9 billion-asset SVB said in a press release that Erin Platts had been named president of SVB Private and David Sabow will become CEO of Silicon Valley Bank UK and Head of EMEA. Sabow’s appointment requires U.K. regulatory approval. Platts and Sabow will move into their new roles in the second quarter. Platts will also join SVB's executive committee.

Webster Financial in Stamford, Conn., has agreed to buy StoneCastle Insured Sweep from StoneCastle Partners. The $65 billion-asset Webster said the business, which operates as interLINK, is a deposit management platform that administers more than $9 billion of deposits from FDIC-insured cash sweep programs between banks and broker/dealers and clearing firms. InterLINK administers about 520,000 retail brokerage accounts on behalf of broker/dealers and clearing platforms. The deal is expected to