Bank of Marin Bancorp in Novato, Calif., decided to rip off the Band-Aid when it comes to its securities portfolio. The company, which restructured its securities book at least twice in the past two years, said in a press release that it reclassified its entire held-to-maturity portfolio as available-for-sale. The plan is to book a fourth-quarter balance sheet adjustment for the difference between the market value and the book value

Kaaj, an AI-focused fintech that builds credit intelligence platforms for lenders, has more cash on hand. Shivi Sharma, the company's co-founder and president, announced in a LinkedIn post that it completed a $3.8 million seed round led by Kindred Ventures with participation from Better Tomorrow Ventures, Karman Ventures, Pythia Ventures, Coughdrop Capital, and angel investors. "The real validation is our customer trust and love," Sharma wrote. "The momentum is undeniable.

CBS Banc-Corp. in Russellville, Ala., has agreed to buy TAG Bancshares in Trenton, Ga. CBS, the parent of the $2.8 billion-asset CB&S Bank, will pay a cash consideration for the holding company of the $129 million-asset Citizens Bank & Trust, according to an announcement by Olsen Palmer, which advised the seller. The deal is expected to close in the first quarter. The price wasn't disclosed.

A group of U.S. Bancorp veterans is seeking approval to form a fully digital de novo bank. Organizers applied to the Federal Deposit Insurance Corp. on Nov. 17 to form VALT Bank in Eagle, Idaho. The goal is to create a digital business banking platform that includes loans, deposits, cash management and advisory services. Founders said in their application that the proposed VALT will be dedicated to “digitally demanding small

University Bancorp in Ann Arbor, Mich., raised $25 million from a private placement of common stock. The company said in a press release that it sold preferred stock to an affiliate of Castle Creek Partners that can be converted to common stock at any time. University Bancorp also said it secured a $12.5 million line of credit.

Community First Credit Union in Jacksonville, Fla., has agreed to buy First Southern Bank in Waycross, Ga. The $2.9 billion-asset credit union said in a press release that it reached a deal with FSBH Corp. to buy substantially all of the assets and assume most of the liabilities of the $400 million-asset First Southern. FSBH shareholders will receive about $17.14 in cash for each share of their common stock. The

BancFirst in Oklahoma City has agreed to buy American Bank of Oklahoma in Collinsville. The $14 billion-asset BancFirst said in a press release that it expects to buy the $385 million-asset American Bank in the third quarter. The price wasn't disclosed. "Collinsville and Skiatook are thriving communities that continue to experience dynamic growth in northeastern Oklahoma," David Harlow, BancFirst's CEO, said in the release. "This acquisition aligns with our continued commitment to serving communities here in

Fintech Ramp raised $300 million in the latest funding round. Eric Glyman, the SaaS company's co-founder and CEO, disclosed the effort in a LinkedIn post. Bloomberg reported that the round was led by Lightspeed. "We're growing 10x faster than the median publicly traded SaaS company," Glyman said in his post. "Revenue, customers, and feature velocity doubling in the past year."