Raj Date, the former deputy director of the Consumer Financial Protection Bureau, has joined the board of Customers Bancorp in West Reading, Pa. The $20.3 billion-asset company said in a press release that Date, a managing partner of investment and advisory firm Fenway Summer, will serve on its board compliance and risk committees. Date is also the co-founder of FS Vector, an advisory firm that counsels fintechs on regulatory strategy, compliance and

The Bancorp in Wilmington, Del., agreed to pay a nearly $1.8 million penalty to resolve alleged violations tied to commercial mortgage-backed securities (CMBS).The $7.1 billion-asset company said the settlement was tied to an Aug. 24 order by the Securities and Exchange Commission. The company did not admit or deny wrongdoing.The SEC, in a July 6 Wells Notice, had alleged that the company had committed violations the Securities Exchange Act, in

Sumitomo Mitsui Financial Group in Tokyo plans to introduce a digital bank through its U.S. subsidiary.SMFG said in a press release Wednesday that Jenius Bank will operate as a new division of its $4.3 billion-asset Manufacturers Bank in Los Angeles. Jenius will launch in “coming months,” initially offering personal loans before adding savings and checking products. “We have the rare opportunity to build exceptional products from scratch that uniquely meet the needs

Sullivan Bank in Sullivan, Mo., will let customers buy, sell and hold bitcoin and Ethereum through a partnership with Bakkt Holdings. Bakkt said in a press release that the $836 million-asset Sullivan decided to offer the service to better serve customers’ needs and to increase engagement. “We are pleased to work with Sullivan Bank to offer their customers the option to buy bitcoin and ether in their trusted digital banking app,” Mark

F&M Bank in Timberville, Va., should have a $3.8 million windfall from the sale of one of its investments.The $1.2 billion-asset company disclosed in a regulatory filing Tuesday that it will benefit from the sale of broker-dealer Infinex Financial Holdings to Advisor Group. F&M said it could also receive up to $750,000 from post-closing incentives. The company said it expects the transaction to close in the third or fourth quarter.

HBT Financial in Bloomington, Ill., has agreed to buy Town and Country Financial in Springfield, Ill.The $4.2 billion-asset HBT said in a press release that it will pay $101.4 million in cash and stock for the $875 million-asset Town and Country. The deal, which is expected to close in the first quarter, priced Town and Country at 139% of its tangible book value. Town and Country has $624 million of loans

Umpqua Holdings in Portland, Ore., has opened a commercial real estate lending office in Denver. The $30.1 billion-asset company said in a press release Tuesday that it had opened the office after hiring Todd Grover as its Colorado market leader. “Todd is a tremendous CRE professional with a strong reputation for his leadership, customer-focused service and experience as a trusted adviser to his clients," Neil Hodge, Umpqua’s head of commercial real estate,

Highland Bank in St. Paul, Minn., has agreed to buy Boundary Waters Bank in Ely, Minn.The $630 million-asset Highland said in a press release that it expects to buy the $115 million-asset Boundary Waters by the end of this year. The price wasn’t disclosed. “This merger presented an ideal opportunity to expand our organization, blending our individual strengths to provide even greater value to our communities and shareholders alike,” Rick Wall,