DLP Bancshares in St. Augustine, Fla., has acquired Community State Bank in Starke, Fla.DLP, a consortium of private investors, said in a press release that it also made a “significant capital contribution” to the $225 million-asset Community State as part of the transaction. The price wasn’t disclosed. Community State "is a tremendous asset to its community, and we have plans to honor its rich history of quality and client service while

Majority, a Miami neobank that is focusing on U.S. immigrants, has raising more capital.The company said in a press release that it had raised $37.5 million in Series B funding, consisting of $30 million in equity from Valar Ventures and Heartland Capital and $7.5 million in debt financing from a U.S. bank.Majority had previously raised $19 million of seed funding in mid-2021 and $27 million of Series A funds a

Allegiance Bancshares and CBTX have received approval from the Federal Reserve three weeks after moving the deadline for the Houston companies’ merger. The companies, which plan to rebrand as Stellar Bancorp, announced their merger in November. They disclosed late last month that they had pushed the termination date back from Aug. 2 to Nov. 1. The Fed noted in its approval that the companies had agreed to create an action plan for

Republic First Bancorp in Philadelphia has begun a strategic review. The $5.7 billion-asset company said in a press release that the decision came after “inquiries by multiple parties expressing interest in one or more potential strategic transactions.”Republic First said it had set up a strategic review committee of the board to review the inquiries and to evaluate a range of potential transactions and alternative strategies. The committee will seek to enter

SVB Financial Group in Santa Clara, Calif., has appointed an investment banker to its board. The $214 billion-asset company said in a press release Wednesday that Thomas King, an operating partner of Atlas Merchant Capital, had become a director. King, who was CEO of investment banking at Barclays from 2014 to 2016, will serve on the board’s compensation and human capital committee. “Over three decades, Tom has leveraged his global banking and corporate

The Bancorp in Wilmington, Del., is set to convert to a national bank charter. The $7.1 billion-asset company disclosed in a regulatory filing Wednesday that its bank will begin operating as a national bank tomorrow. The Bancorp plans to move its bank’s headquarters from Wilmington to Sioux Falls, S.D., early next year. The company’s payments operations and other core businesses are already in South Dakota. The Office of the Comptroller of the Currency,

First Seacoast Bancorp in Dover, N.H., plans to raise up to $36.3 million from its second-step conversion from a mutual to a fully stock-owned company. The $510 million-asset company said in a regulatory filing that it expects to receive $26.5 million to $36.3 million of net proceeds as part of the conversion. First Seacoast said it plans to invest at least half of the net proceeds in its bank. A portion of

Another former executive at First NBC Bank has pleaded guilty to charges tied to the New Orleans bank’s April 2017 failure. William Burnell, the bank’s chief credit officer from 2006 until its failure, pleaded guilty to conspiracy to defraud First NBC. He was accused of misrepresenting information on monthly reports showing the quality of the bank’s assets. The U.S. Attorney’s Office for the Eastern District of Louisiana alleged in a press release