A legal tussle will prevent Republic First Bancorp in Philadelphia from holding director elections at tomorrow’s annual meeting. The $5.6 billion-asset Republic First disclosed in a regulatory filing that the Court of Common Pleas issued an order barring it from conducting a shareholder vote on director seats until a hearing is held on April 25. The order came in response to a lawsuit that a shareholder group that includes George

Spring Bank in Brookfield, Wis., has a new president. The $375 million-asset bank said in a press release that Heather Nelson had succeeded David Schuelke, who will remain CEO. “Expanding our leadership team and splitting the responsibilities of the CEO and president reflect Spring Bank’s 15 years of success and positions us for future growth,” Schuelke said in the release. “It also demonstrates our continued commitment to providing the personalized

Salisbury Bancorp in Lakeville, Conn., is looking to retrieve funds that were erroneously sent to a trust client. The $1.5 billion-asset company said in a press release that about $1 million was mistakenly distributed when a trust account was terminated in May 2020. The company’s management discovered the mishap in July 2022. Salisbury said it filed a complaint last December against the beneficiaries to recover the proceeds and reinstate the

Popular in San Juan, Puerto Rico, plans to spend $50 million this year on technology initiatives. The $70.7 billion-asset company said in a press release that the investments are intended to expand its digital capabilities, modernize its technology platform and implement “agile and efficient business processes.” Popular said the effort is expected to continue through 2025 as it eyes a 14% return on tangible common equity by the end of

Merchants Bancorp. in Hillsboro, Ohio, will combine the roles of president and CEO. The $1.2 billion-asset company said in a press release that Paul Pence Jr., its chairman and CEO, will also become president of Merchants National Bank, effective Jan. 31. Pence, who served as president from 1981 to 2014, will succeed Jim Evans. The company said that Denise Fauber, vice president of branch administration and director of human resources,

Premier Financial in Defiance, Ohio, has acquired an insurance agency. The $8.5 billion-asset company said in a press release that its insurance unit bought Benham Insurance Associates on Dec. 30. The price wasn’t disclosed. Benham is a property and casualty insurance agency based in Holland, Ohio. It has annual revenues of about $200,000. Premier said the agency will be added to its FIG platform.

First Busey in Champaign, Ill., disclosed that it has a new leader for its payments unit. The $12.3 billion-asset company said in a press release that Robin Elliott replaced Farhan Yasin as president and CEO of FirsTech late in the fourth quarter. Elliott is also president and CEO of Busey Bank. First Busey said the leadership change reflects a “continued commitment to scaling and growing the business.” The company incurred

Coastal Financial in Everett, Wash., has hired an outsider to oversee tech initiatives. The $3.1 billion-asset company said in a press release that it hired Barb MacLean as its head of technology operations and implementation. She previously served as vice president of integration and analytics at Celero Solutions. “The capabilities and experience that Barb brings to our organization will be instrumental as Coastal continues to advance into a more complex organization,”