Union County Savings Bank in Elizabeth, N.J., has hired a former state banking commissioner as its general counsel. The $1.8 billion-asset bank hired Michael Horn, who is currently a partner at McCarter & English, according to ROI-NJ.com. “Mike’s legal acumen and experience in the banking industry is second to none,” Joseph Yewaisis, the bank’s chairman and CEO, was quoted on the website. “Mike brings a wealth of knowledge and expertise to

Three community banks recently raised capital through private placements. NexBank Capital in Dallas said in a press release that it brough in $50 million after selling nearly 200,000 shares of common stock. The $13.3 billion-asset company said it plans to use the net proceeds for growth capital and other purposes. KeyStone Bancshares in Austin, Texas, raised $18 million, while RiverBank Holding in Spokane, Wash., brough in nearly $4.4 million, according

CNB Financial in Clearfield, Pa., has raised $91 million after selling common stock. The $5.3 billion-asset company disclosed in a regulatory filing that it sold about 4.3 million shares at $23.50 each. The offering included more than 550,000 shares issued under the underwriters’ overallotment option. CNB said it plans to use the net proceeds from the offering for purposes that could include funding of organic growth or acquisitions. The offering

BayFirst Financial in St. Petersburg, Fla, is shutting down its nationwide network of mortgage production offices. The $922 million-asset company said in a Wednesday press release that the decision reflects “the precipitous decline in mortgage volumes and the uncertain outlook for mortgage lending over the coming quarters.” BayFirst will continue to originate mortgages in its local Florida markets. “This decision allows the bank to focus [its] resources on building a

Southern Missouri Bancorp in Poplar Bluff has agreed to buy Citizens Bancshares in Kansas City, Mo. The $3.2 billion-asset Southern Missouri said in a press release Wednesday that it will pay $140 million in cash and stock for the $1 billion-asset parent of Citizens Bank and Trust Co. The deal, which is expected to close in the first quarter, priced Citizens at 150% of its tangible book value. Citizens has

Columbia Banking System in Tacoma, Wash., and Umpqua Holdings in Portland, Ore., will sell 10 branches under an agreement with the Department of Justice. The $20.6 billion-asset Columbia and the $30.1 billion-asset Umpqua agreed to merge in October 2021 in a deal valued at $5.2 billion. The companies will sell fives branches in Oregon, three in California and two in Washington. Columbia said it does not yet have any agreements to sell the branches.

Citizens Bank of Edmond in Oklahoma is planning to create a bank specifically designed for newly enlisted members of the military and their families. The $350 million-asset bank is working with Nymbus on the digital bank, which is expected to launch next year. “Collaborating with a partner just as passionate about this mission as myself and the entire Citizens Bank of Edmond team was top of mind,” Jill Castilla, Citizens’

Fifth Third Bancorp in Cincinnati has formed a mortgage warehouse finance business. The $207 billion-asset Fifth Third said in a press release that the business is being run by Donnie Martin, who was named group head of mortgage warehouse finance, and team of Dallas-based lenders. Martin previously served as director of warehouse lending at Texas Capital Bank, according to his LinkedIn profile. Warehouse lending is a financing arrangement between banks and