First County Bank in Stamford, Conn., has hired Nitin Mhatre as its CEO. The $2.2 billion-asset bank said in a press release that Mhatre will succeed Robert Granata. Mhatre will become CEO on April 15, while Granata will remain chairman until July. Mhatre had been the CEO of Berkshire Bancorp in Boston since January 2021. Berkshire recently rebranded as Beacon Financial after buying Brookline Bancorp. Paul Perrault, Brookline’s chairman and

Organizers of the proposed Echelon Bank in Clearwater, Fla., have received conditional approval from the Federal Deposit Insurance Corp. The group, which applied in July, must raise $23 million before opening the bank. Their plans include three branches and a loan production office in the first three years of operation. Echelon “will be a full-service, relationship driven, community bank, offering both commercial and retail banking services to its customers, which

Greenfield Savings Bank in Greenfield, Mass., has a new CEO. The bank said in a press release that Peter Albero had also become its president. Albero, who was chief financial officer and treasurer, succeeded Thomas Meshako, who retired. “Peter’s leadership and financial acumen make him the ideal choice to guide Greenfield Savings Bank into the future,” Meshako said in the release. “His dedication to our values and his vision for

Onsetto, a Minneapolis fintech that helps financial institutions activate and establish primary operating relationships, raised $2.2 million in funding. The AI-focused fintech said in a press release that the funding round was led by EJF Ventures, with participation from Idea Fund of La Crosse, The Perch Fund, and angel investors Daren Cotter and Bobby Astrup. The funding will support investment in product development, including AI-driven capabilities for switching, activation, and treasury

Coastal Financial in Everett, Wash., bought the GreenFi brand of climate-friendly consumer financial services products from Mission Financial Partners. The $4.6 billion-asset Coastal said in a press release that, as part of the deal, Mission Financial will continue to partner with the bank to operate and market the GreenFi program through its existing technology platform. The price wasn't disclosed. Coastal will remain the banking partner for GreenFi's consumer financial services

Zeal Credit Union in Livonia, Mich., has agreed to buy Miners State Bank in Iron River, Mich. The $1 billion-asset credit union said in a press release that it expects to buy the $100 million-asset Miners State in the fourth quarter. The price Zeal plans to pay MSB Bankshares in the all-cash transaction wasn't disclosed. Following completion of the deal, Miners State will liquidate and distribute its remaining assets to stockholders.

World Liberty Financial in New York has applied with the Office of the Comptroller of the Currency to form a national trust bank. WLTC Holdings applied to create World Liberty Trust Co. The proposed trust bank would issue and redeem stablecoin, offer on-ramp and off-ramp services, and allow for custody and conversion. “This application marks a further evolution of the World Liberty Financial ecosystem. USD1 grew faster in its first

European neobank bunq has reapplied for a national bank charter. The company, which withdrew a similar application in early 2024, is looking to form bunq US Bank through a charter with the Office of the Comptroller of the Currency. Bunq said in a press release that it plans to use the charter to offer services in major U.S. markets with big expat communities. “Our users are building their lives across