GrandSouth Bancorp. in Greenville, S.C., considered four bids before deciding to negotiate with First Bancorp in Southern Pines, N.C. The $10.6 billion-asset First Bancorp agreed to buy the $1.3 billion-asset GrandSouth in June for $181 million of stock. GrandSouth’s investment bank contacted 11 potential acquirers in March with the candidates selected because of “their size, capacity to pay and strategic interest in GrandSouth or banks in the South Carolina marketplace,” according to

WSFS Financial in Wilmington, Del., has formed a health care banking division after hiring a banker from Fulton Financial. The $20.6 billion-asset WSFS said in a press release Monday that Kevin McKeown had become its director of health care banking. He will report to Jim Wechsler, the company’s chief operating officer, commercial banking. The group will focus on senior living and long-term care facilities, while building out the expertise and products for

Gulf Coast Bank & Trust in New Orleans has acquired an equipment finance business. The $3 billion-asset bank bought the assets of KLC Financial and KLC Capital Partners in Minnetonka, Minn. The price wasn’t disclosed. KLC offers leases to vendors and commercial businesses across a national platform. “KLC will continue their existing leasing programs but will now have additional resources and reach that will enable them to serve even more customers across the

Provident Financial Services in Iselin, N.J., has hired an outsider to serve as its first chief digital and innovation officer. The $13.7 billion-asset company said in a press release Monday that Ravi Vakacherla had accepted the post, which is a recasting of the bank’s chief information officer role. He also joined Provident’s executive leadership team. Vakacharla is responsible for digital initiatives, including strategy, data analytics, innovation, fintech partnerships and IT. He will

First Missouri Bank in Brookfield has a new name. The $377 million-asset bank has rebranded as Verimore Bank in a move that deemphasizes location and focuses on products and services. The rebranding "is the result of time spent asking bank customers, employees and community leaders about what we do well, where we can improve, and what sets us apart,” Kristie Stuewe, Verimore’s CEO, said in a press release. “In response to our customer

Allegiance Bancshares in Houston and CBTX in Houston have pushed back the termination date of their planned merger. The companies disclosed in regulatory filings that the termination date was changed from Aug. 2 to Nov. 1. Allegiance and CBTX “remain committed to the merger and obtaining” approval from the Federal Reserve, the companies said.The Fed is the only entity that hasn’t signed off on the combination. The companies, which plan to rebrand as

The Bank Slate and the American Bankers Association have an agreement where the banking blog will share content with the ABA Banking Journal.The agreement allows the ABA to pick up select content from The Bank Slate to include in its Daily NewsBytes coverage, with a particular focus on articles about M&A, personnel moves and de novo activity. Paul Davis, The Bank Slate's founder, is now a contributor to the ABA Banking

Bank of San Antonio in Texas has a new president. The bank, which is part of the $2.1 billion-asset Texas Partners Bank, said in a press release that Brandi Vitier had taken on the role. She previously served as an executive vice president and market executive.Vitier, with two colleagues, recently launched Stride, a free entrepreneurial education program for San Antonio business owners offered through a partnership with Texas A&M University-San Antonio.“The