Live Oak Bancshares in Wilmington, N.C., has added a banking veteran to its board. The $9.1 billion-asset company said in a press release Monday that Yousef Valine became a director on Sept. 15. Valine recently served as chief operating officer, chief risk officer and merger executive at First Horizon in Memphis, Tenn. First Horizon is in the process of selling itself to TD Bank. Valine has also held leadership posts at

A large investor in Republic First Bancorp wants the Philadelphia company to avoid selling right now. A group including George Norcross and Gregory Braca wrote in a Sept. 16 letter to the $5.7 billion-asset Republic First’s board that it believes “a financially attractive proposal … is unlikely” due to the company’s financial position. The group in the past has proposed appointing Braca as CEO and focusing more on lending in urban markets.

Peapack-Gladstone Financial in Bedminster, N.J., has a new president for its equipment finance unit. The $6.2 billion-asset company said in a press release Monday that Dennis Smith had accepted the post. He previously served as the unit’s chief operating officer. Peapack-Gladstone also said that Richard Johnston had been named national director of sales. Johnston previously served as the unit’s senior vice president of capital markets. Smith and Johnston, who joined

First National Bank of Syracuse in Kansas has rebranded as Dream First Bank. The $444 million-asset bank said in a press release Monday that the family ownership, management and values remain unchanged. “We remain the same people our customers have come to depend on with a smile, a handshake and a way to help people reach their next goal,” Chris Floyd, Dream First’s president and CEO, said in the release.

GreenState Credit Union in North Liberty, Iowa, has cut about 5% of its workforce. The $10.7 billion-asset credit union eliminated 42 positions, citing lower loan demand. Most of the cuts came in GreenState’s mortgage lending and commercial banking operations.  “This action was necessary due to the market corrections currently taking place that have a direct impact on GreenState’s operations,” Jim Kelly, the credit union’s chief marketing officer, wrote in an

BCB Bancorp in Bayonne, N.J., is facing claims of wrongfully removing a director. The $3.1 billion-asset company disclosed in a regulatory filing Friday that it had received a letter from a lawyer representing August Pellegrini claiming Pelligrini was removed after objecting to improper board practices. The letter claimed that, since April 2019, Pellegrini had observed “numerous irregularities in the manner in which the board carried out its audit oversight.” He also claimed

Capital One Financial in McLean, Va., has been freed from a 2020 consent order from the Office of the Comptroller of the Currency. The $435 billion-asset company was hit with the order after a 2019 data breach. The order, terminated on Aug. 31, required Capital One to form a compliance committee and pay an $80 million fine.Capital One also had to provide progress reports detailing efforts to improve its risk management,

U.S. Bancorp in Minneapolis and Japan’s Mitsubishi UFJ Financial Group have pushed back the termination date for U.S. Bancorp’s proposed purchase of MUFG Union Bank. The companies said in a press release Friday that the date was moved from Sept. 30 to Dec 31. Both parties said they remain committed to completing the transaction, which still needs regulatory approval.The announcement comes days after the $558 billion-asset U.S. Bancorp said it was