Timberland Bancorp in Hoquiam, Wash., has a new CEO. The $1.8 billion-asset company disclosed in a regulatory filing that Dean Brydon had taken over the role, succeeding Michael Sand, who retired. Brydon was also added to Timberland’s board, while Sand will remain a director. Brydon had been the company’s president and chief financial officer. Jonathan Fischer, Timberland’s chief operating officer, succeeded Brydon as president. Fischer will remain COO, a role

LevelField Financial, a Houston fintech that focuses on digital assets, has agreed to buy Burling Bank in Chicago. LevelField did not disclose the price it agreed to pay for the $191 million-asset Burling. The deal is expected to close later this year. LevelField said it plans to incorporate Burling's existing business activities. The bank’s senior management team is expected to join LevelField's leadership and focus on serving existing clients and

First Savings Financial Group in Jeffersonville, Ind., plans to restate its earnings to address several accounting matters. The $2.1 billion-asset company disclosed in a regulatory filing that the changes will lower its fiscal 2022 net income by 6.4%, to $15.4 million. First Savings highlighted several issues, including an overstatement of other assets due to a capitalized consulting fee paid to evaluate its core operating systems and negotiate a contract. The

The Consumer Financial Protection Bureau plans to cap credit card late fees at $8 as part of a series of proposals to curb what it believes to be excessive charges. The agency said in a press release that the proposal aims to adjust the safe harbor dollar amount for late fees to $8 and eliminate a higher safe harbor dollar amount for late fees for subsequent violations of the same

First Waterloo Bancshares in Waterloo, Ill., has raised nearly $8.5 million through a private placement. The $823 million-asset company raised the capital on Jan. 28, according to data compiled by Performance Trust Capital Partners. Performance Trust also reported that M&T Bank in Buffalo, N.Y., raised $1 billion by issuing senior debt.

Provident Bancorp in Amesbury, Mass., returned to profitability and slashed its exposure to the cryptocurrency industry during the fourth quarter. The $1.6 billion-asset company said in a press release that its crypto portfolio shrank by 66% in the fourth quarter from a year earlier, to $41.2 million, largely due to the sale of impaired loans backed by crypto mining rigs and payments on outstanding lines of credit. Loans backed by

New York Community Bancorp in Hicksville plans to close all of its out-of-market mortgage offices. The $90.1 billion-asset company, which recently completed its purchase of Flagstar Bancorp, said in a press release that the move will eliminate about 70% of its retail home lending offices. "While legacy Flagstar was proactive in rightsizing its mortgage business throughout the past year, we expect the mortgage market to remain challenged,” Thomas Cangemi, New

Heartland Financial USA has officially moved its corporate headquarters from Dubuque, Iowa, to Denver. The $20.2 billion-asset company said in a press release that the address was changed on Dec. 31. HTLF Bank is headquartered in Denver. Heartland also noted that it consolidated five of its charters into HTLF Bank in 2022, including Arizona Bank & Trust and Illinois Bank & Trust in the fourth quarter. Six others will be