NBKC Bank in Kansas City, Mo., has agreed to become the Banking-as-a-Service (BaaS) provider to Acorns, a fintech that helps people with savings and investments. The $1.1 billion-asset NBKC said in a press release that it will provide Acorns-branded checking accounts and debit cards to qualifying the fintech’s customer. With Acorns Checking, subscribers can invest spare change and invest a portion of each paycheck automatically. Acorns “has helped millions of

Silvergate Capital in La Jolla, Calif., said its relationship with Genesis Global Holdco was limited to deposits. The $11.4 billion-asset Silvergate said in a press release that it holds less than $2.5 million of deposits tied to Genesis, which recently filed for bankruptcy protection, or its subsidiaries. Silvergate said that Genesis is not a custodian for its bitcoin-collateralized SEN leverage loans and the bank has no outstanding loans to nor

A new fintech plans to offer speedy loan approvals and one-click loan activation for credit union members after raising $5 million in initial funding. Union Credit in Santa Rosa, Calif., said in a press release that the seed funding was led by CMFG Ventures and was supported by Marin Sonoma Impact Ventures, Array and other “fintech influencers” The fintech said it will use the funding to build out its digital

CapStar Financial Holdings in Nashville, Tenn., has a new leader for its Small Business Administration lending division.   The $3.1 billion-asset company said in a press release that Marc Gibson had been named the division’s director.   CapStar also said it had hired a team of experienced SBA professionals, increasing the division’s staff to three business development officers and 14 employees to handle processing, underwriting, approvals, closings and servicing.  

First Central Credit Union in Waco, Texas, has agreed to buy a branch from Citizens State Bank in Woodville, Texas. The $264 million-asset Citizens applied with the Federal Deposit Insurance Corp. to sell assets and liabilities tied to a branch in Marlin, Texas. “It is contemplated that this branch location will continue to be operated as an office of First Central Credit Union following the consummation of the proposed transaction,”

Metropolitan Bank Holding in New York is hopeful it can resolve an investigation by bank regulators tied to a former fintech client. The $6.3 billion-asset bank said in a press release that it reserved $35 million in the fourth quarter for the potential resolution of a probe by the Federal Reserve and the New York Department of Financial Services. The investigation focuses on matters involving a fintech that Metropolitan banked

BV Financial in Baltimore is planning to become a fully stock-owned company. BV Financial said in a press release that Bay-Vanguard, the mutual holding company, plans to undertake a second-step conversion. BV Financial is the holding company for the $841 million-asset BayVanguard Bank. Bay-Vanguard owns about 86.6% of the company’s outstanding common stock. Eligible accountholders as of the close of business on Dec. 31 will have first priority non-transferable subscription

Oregon Pacific Bank in Florence repositioned its securities portfolio during the fourth quarter. The $754 million-asset bank said in a press release that it sold $15.5 million of securities it bought in early 2021 and had a remaining weighted average life of roughly 5.4 years, at a pretax loss of $1.8 million. The securities have a 1.23% yield. Oregon Pacific replaced those securities with $13.8 million of securities with a