David Zalman is back in the M&A game with two acquisitions. Prosperity Bancshares in Houston has agreed to buy Lone Star State Bancshares in Lubbock, Texas, and First Bancshares of Texas in Midland, marking Prosperity’s first bank deals since it bought LegacyTexas Financial Group in 2019.  The $37.4 billion-asset Prosperity will pay $228.7 million in cash and stock for the $1.3 billion-asset Lone Star. The deal, which is expected to

Affinity Bancshares in Covington, Ga., will consolidate two roles following the expected resignation of its president. The $767 million-asset company disclosed in a regulatory filing that Gregory Proffitt, who is also president of its bank, plans to resign by Nov. 18. Affinity said its board, at its next meeting, will likely appoint CEO Edward Cooney to serve as president.

Sterling Bancorp in Southfield, Mich., has filed a lawsuit against its founder and controlling shareholder. The $2.5 billion-asset company disclosed in a regulatory filing that it filed a lawsuit in U.S. District Court for the Eastern District of Michigan against former CEO Scott Seligman and “other nominal defendants.” The lawsuit, which seeks to claw back roughly $25 million of dividends and other payments to Seligman, alleges that he breached his

Rhinebeck Bank in Rhinebeck, N.Y., agreed to pay a $950,000 fine to address claims by the New York State Department of Financial Services that it violated the state’s fair lending law. The $1.3 billion-asset bank also agreed to provide restitution to affected customers, the regulator said in a press release. Rhinebeck's "specific policies and practices allowed automobile dealers to markup a consumer's interest rate above the bank’s established buy rate,

Bank of America in Charlotte, N.C., agreed to pay about $1.8 billion to resolve claims that go back to the 2008 financial crisis.  The $2.2 trillion-asset Bank of America disclosed in a regulatory filing that it will pay the settlement to Ambac Assurance to address pending Ambac lawsuits against the company and its subsidiaries. Pending lawsuits against Bank of America had aggregate damages claims totaling more than $3 billion. The

Bankers Helping Bankers, a program associated with the Independent Bankers Association of Texas, has created a platform to let participants pilot fintech products. Participating banks will help vetted fintechs by beta testing products, providing feedback, influencing product development and assisting with rollout strategies. Banks that pilot products “have potential fintech partnerships at low to no cost for an agreed upon timeline,” Bankers Helping Bankers said in a press release. Banks

Home Federal Bancorp in Shreveport, La., has agreed to buy Northwest Bancshares in Benton, La. The $590.5 million-asset Home said in a press release that it will pay $10.1 million in cash for the $81.7 million-asset parent of First National Bank of Benton. The deal is expected to close in the first quarter. A portion of the purchase price will be based on Northwest’s assets at the end of the

Republic First Bancorp in Philadelphia has reached a truce with a large shareholder. The $5.7 billion-asset company said in a press release that it has secured a cooperation agreement with Driver Management. As part of the agreement, Republic First appointed Peter Bartholow, former chief financial officer and chief operations officer at Texas Capital Bancshares, to its board. Driver agreed to withdraw its notice of intent to nominate director candidates for