Forbright Bank in Potomac, Md., has hired a veteran banker to oversee the creation of a digital bank. The $6.4 billion-asset bank said in a press release that hired Matthew Quale as its president of digital banking. Quale previously served as executive vice president of consumer banking and marketing at Texas Capital Bank. Quale was also president of Bask Bank, Texas Capital’s direct-to-consumer digital bank. Bask focuses on frequent flyers.

Wells Fargo in San Francisco plans to exit correspondent lending and reduce the size of its servicing portfolio. The $1.9 trillion-asset company said in a press release that it will shift its focus, including plans to broaden its Special Purpose Credit Program, a $150 million investment to refinance loans to minority homeowners, to include purchase loans. Wells also plans to invest another $100 million to “advance racial equity in homeownership,”

Sturdy Savings Bank in Stone Harbor, NJ, has a new CEO. The $1.3 billion-asset bank said in a press release that Gregory Matuson has also become its president. Matuson succeeded Gerald Reeves, who had held the top posts for 15 years. Matuson previously served as Study’s chief operating officer. He will also join the bank’s board. “During his tenure with Sturdy Savings Bank, Greg has proven himself to be an

Old Mission Bank in Sault Sainte Marie, Mich., has agreed to be sold to 4Front Credit Union in Traverse City, Mich. The $1 billion-asset 4Front said in a press release that it expects to buy the $130 million-asset bank from Old Mission Bancorp by the end of this year. The price wasn’t disclosed. "We believe in making banking smart and simple," Andy Kempf, the credit union’s CEO, said in a

Heritage Financial in Olympia, Wash., has entered the Boise, Idaho, market after hiring a lending team. The $7.2 billion-asset company said in a press release that it hired Mike Trueba to serve as commercial team leader and Kara Aburusa as a credit analyst senior. Heritage plans to hire more commercial relationship managers, deposit relationship managers and support staff. Boise is "a new market we have wanted to be in for

The CEO of Integrated Financial Holdings in Raleigh, N.C., has died in a plane crash in southern Virginia. Eric John Bergevin was also Integrated’s president. The crash occurred on Saturday, the $390 million-asset company said in a press release. Another passenger on the plane, Christian Rask Fauchild, also died, according to multiple media outlets. “This is an unfathomable loss to comprehend,” Marc McConnell, the company’s chairman, said in the release.

Citizens Bank of Philadelphia in Mississippi said that its CEO is retiring. The $1.4 billion-asset unit of Citizens Holding said in a press release that Greg Mckee will also step down as its president on Jan. 31. He will remain on the bank’s board and still serve as president and CEO of the parent company. Citizens Bank said it will make an announcement about Mckee’s successor in the next two

Columbia Banking System in Tacoma, Wash., and Umpqua Holdings in Portland, Ore., expect to complete their merger in February after receiving approval from the Federal Deposit Insurance Corp. The $20.4 billion-asset Columbia and the $31.5 billion-asset Umpqua said in a press release that the FDIC was the final regulator to sign off on the transaction. The companies extended the termination deadline to March 11 to accommodate the new closing timeline.