Stearns Bank in St. Cloud, Minn., has introduced a small-dollar Small Business Administration loan through one of its lending divisions. The $2.3 billion-asset bank said in a press release that South End Capital is now offering an SBA Express platform that makes streamlined 7(a) loans for up to $25,000. "We have revolutionized the way small businesses access working capital,” Noah Grayson, the division’s president, said in the release. “No longer must businesses seeking

A group in Encino, Calif., is looking to form a bank that will have a focus on the Syrian American community. Organizers for the proposed United Community Bank applied with the Federal Deposit Insurance Corp. on Aug. 31 for deposit insurance. The bank plans to focus on small- and midsize businesses and their owners, business professionals, real estate owners and investors, and other individuals. While United Community will broadly serve clients in California’s

Firstrust Bank in Conshohocken, Pa., will soon have a new CEO. The $5 billion-asset bank said in a press release Thursday that Timothy Abell, its president, will become CEO on Jan. 1. He will succeed Richard Green, who will remain executive chairman. Green will continue to own the bank his grandfather founded in 1934 and will focus more on growth initiatives and the Green Family Foundation. Firstrust unit Hatch Bank focuses on fintechs. Abell

Texas Brand Bank in Dallas and Harmony Bank in Kemp, Texas, have agreed to merge. The $330 million-asset Texas Brand Bank plans to adopt the $350 million-asset Harmony Bank’s name. The price wasn’t disclosed. “Merging with Harmony … is synergistic for our teams, and we look forward to the benefits it will bring to our customers,” Bubba Tomlinson, Texas Brand’s chairman, said in a press release. “We’re committed to maintaining the great personal

StoneCastle Partners has terminated an agreement to sell its digital deposit-gathering business to Veritex Holdings in Dallas.    The $11.3 billion-asset Veritex agreed in March to buy interLINK for $91 million in cash and stock.   Veritex has already received approval from the Texas Department of Banking and was pursuing approval from the Federal Deposit Insurance Corp.    Veritex said in a regulatory filing that it “believes all the other

Pinnacle Financial Partners in Nashville, Tenn., is planning to enter Louisville, Ky., after hiring a banker to lead the effort. The $40 billion-asset company said in a press release that it had hired Tom Crockett as regional president with the responsibility of building a team. Pinnacle will open its first branch in the market next year.Crockett previously worked at Old National in Evansville, Ind., where he was responsible for developing expansion

Live Oak Banchares in Wilmington, N.C., plans to invest $25 million and create 204 jobs in North Carolina’s Hanover County as part of a campus expansion. The expansion includes the construction of a new office building to support lending and technology personnel for new products and services. “We are grateful for the support of city, county and state officials for powerful capital investments that will help grow fintech jobs in our community

Oakworth Capital Bank in Birmingham, Ala., will enter the Charlotte, N.C., market after hiring a banker from Aquesta Bank. The $1.2 billion-asset bank said in a press release Wednesday that it had hired Tim Beck to serve as its central Carolinas market leader. Beck previously served as chief credit officer at Aquesta, which was sold to Unity Community Banks in October 2021."When we consider expanding to serve more communities, we always