Newtek Business Services in Boca Raton, Fla., which recently bought a bank, has filed to raise up to $500 million by selling securities and issuing debt. The company’s shelf registration includes common and preferred stock, depositary shares, subscription rights, warrants and debt securities. No timetable was set for any sales. Newtek said would use the net proceeds from any sale “for general corporate purposes unless otherwise indicated in the prospectus

Saint Louis Bancshares in St. Louis, Mo., has raised $27 million in capital. The parent of the $824 million-asset St. Louis Bank plans to use the funds for growth initiatives. The capital included $10 million of Series A non-cumulative perpetual preferred stock, $4 million of common stock and $13 million of debt. "We believe Saint Louis Bank’s record of performance and proven ability to execute our growth strategy are key

Fifth Third Bancorp in Cincinnati has agreed to buy Big Data Healthcare, a healthcare payments company. The $207 billion-asset Fifth Third did not disclose the price it will pay for the company, which adds more digital capabilities to the bank’s healthcare platform. “The healthcare industry is one of the largest and fastest growing segments of the U.S. economy,” Kevin Lavender, Fifth Third’s head of commercial banking, said in a press

The CEO of Lake Shore Bancorp will retire just weeks after the Dunkirk, N.Y., company’s bank was classified as being in a "troubled condition" by the Office of the Comptroller of the Currency. The $700 million-asset company disclosed in a regulatory filing that Daniel Reininga will also retire as president on March 10. Lake Shore said that Jeffrey Werdein, executive vice president of the bank’s commercial division, was appointed interim

Fifth Third Bancorp in Cincinnati will shrink the size of its board after the retirement of its executive chairman. The $207 billion-asset company disclosed in a regulatory filing that Greg Carmichael will retire at its April 18 annual meeting. Carmichael, a former Fifth Third CEO, had been chairman since February 2018. The board voted to decrease its size such that no vacancies will result from Carmichael’s retirement.

Silvergate Capital in La Jolla, Calif., has shut down its cryptocurrency payments network after months of implosions by digital assets clients. The $11.4 billion-asset company said in a brief statement on its website that it had made the “risk-based decision to discontinue the Silvergate Exchange Network (SEN). Silvergate said that all of its other deposit-related services remain operational. The network had offered round-the-clock transfers between crypto exchanges and investors. The

SouthState in Winter Haven, Fla., will eliminate the position of executive chairman, separating employment with former CEO Robert Hill Jr.   The $43.9 billion-asset SouthState disclosed in a regulatory filing that it eliminated the position “as part of a broader, ongoing effort to enhance the independence of the company's board," the filing said.   Hill’s separation will be effective after SouthState’s annual meeting on April 26. On that date, Doug

Signature Bank in New York has run off about $1.5 billion of crypto-related deposits so far this quarter. The $110.4 billion-asset bank disclosed in its mid-quarter report that it continues to reduce the size of deposit relationships tied to the crypto industry. As of March 1, overall deposits were down $826 million from the end of 2022, or roughly 0.9%. Excluding the runoff of crypto deposits, total deposits would be