Another director of RBB Bancorp resigned because of a disagreement over the Los Angeles company’s corporate governance and policy matters. The $4.1 billion-asset company disclosed in a press release that Paul Lin stepped down on May 8. In his letter, Lin took issue with the pace and timing of the board’s investigation into governance matters after Alan Thian resigned as chairman, president and CEO. Lin wrote in his letter that

The Federal Deposit Insurance Corp. wants to base its special assessment focused on banks’ uninsured deposit totals. The agency has proposed having U.S. banks with the highest amounts of uninsured deposits pay to replenish the Deposit Insurance Fund (DIF). There will be a 60-day window for comments on the proposed rule. The assessment rate would be 12.5 basis points, based on a bank's estimated uninsured deposits as of Dec. 31.

PacWest Bancorp in Los Angeles reported another large outflow of deposits. The $44.3 billion-asset company disclosed in its quarterly filing that deposit balances fell by 9.5% last week. While First Republic Bank in San Francisco failed on May 1, PacWest said that most of the outflows took place on May 4-5 after news reports said it was “exploring all of its options and having talks with potential investors and partners."

Organizers of a proposed bank in Bedford, N.H., plan to raise at least $25 million in initial capital. Granite First Bank would serve small and midsize businesses, professional services firms, nonprofits, and individuals, organizers said in their application with the Federal Deposit Insurance Corp. David Cassidy is expected to serve as president and CEO. He was chief lending and credit officer at Centrix Bank, which was sold to Eastern Bank.

First Citizens BancShares in Raleigh, N.C., had a mammoth quarter for profitability after booking a $9.8 billion gain from buying the failed Silicon Valley Bank. The $214.7 billion-asset company earned $9.5 billion in the first quarter, an astronomical increase from the $271 million of net income from a year earlier. First Citizens also disclosed that roughly a quarter of the deposits it gained from buying Silicon Valley Bank – about

Marqeta, a card issuing platform, plans to cut about 15% of its workforce. The fintech disclosed in a regulatory filing that it will lay off roughly 150 employees in the coming months as part of a plan to lower operating costs, prioritize high-return projects and put it on a path to profitability. The plan is expected to cut annual expenses by $40 million to $45 million. Marqeta said it expects to incur

A group in Bedford, N.H., has applied to form a bank. Organizers of Granite First Bank submitted an application on Tuesday with the Federal Deposit Insurance Corp. for deposit insurance. The application wasn’t immediately available. The organizers are H. Andrew Crews, David Cassidy and Samuel Figler, according to a public noticed filed in conjunction with the application. Crews, commissioner of the New Hampshire Lottery, was vice chairman of Primary Bank,

Cadence Bank in Tupelo, Miss., plans to close 35 branches this year, or roughly 8.5% of its network. The $48.7 billion-asset bank, formed through the merger of Cadence and BancorpSouth, had 412 branches in mid-2022, according to data compiled by the Federal Deposit Insurance Corp. “In order to best optimize and strengthen our branch network, we have made this decision,” Dan Rollins, the bank’s chairman and CEO, said in a