Pacific West Bank in West Linn, Ore., has formed a holding company. The $291.3 billion-asset bank said in a press release that it is now a unit of Pacific West Bancorp. "The formation of the holding company will provide more efficient access to capital when the need arises and will put the bank in the best position to respond to future market conditions, as well as take advantage of future

Securrency, a cryptocurrency infrastructure startup, has hired the head of State Street Digital as its CEO. Nadine Chakar will take over the role on Monday, succeeding Dan Doney, who became chief technology officer. Chakar also led State Street Global Markets, where she oversaw its trading, product and operations platform. She has served on Securrency’s board since 2021. "Nadine is an exceptional leader and Securrency has been fortunate to leverage her

CIB Marine Bancshares in Champaign, Ill., plans to expand its mortgage lending operations into six states   The parent of the $755 million-asset CIBM Bank said that it plans to hire about 30 loan officers as part of an expansion into Arizona, Connecticut, Florida, New York, Massachusetts and Rhode Island.   The push is expected to more than double the bank’s mortgage originations.   Frank Binetti, who recently served as

Community bankers said cybersecurity and credit risk are their biggest challenges in 2023. About 85% of the more than 100 respondents polled by the Risk Management Association that they were concerned about cybersecurity, while 84% pointed to credit risk. The survey, conducted last summer, featured executives at banks with $10 billion or less of assets. Only half of the bankers identified regulatory compliance as their biggest challenge. Roughly 56% of

Carver State Bank in Savannah, Ga., didn’t have to look to far to find its next leader. Robert James Sr. is set to retire from the $79.5 million-asset bank. His son, Robert James II, will take over the bank’s day-to-day operations, according to Georgia Public Broadcasting News. “My son has become extremely involved in the bank,” the elder James told the website. “He was a part of our succession plan

FirstPerryton Bancorp in Perryton, Texas, has raised $37.3 million through a private placement of common stock. The parent of the $1.5 billion-asset FirstBank Southwest completed the placement on Dec. 29, according to data compiled by Performance Trust Capital Partners. Banks raised nearly $4.2 billion in 2022 from selling common stock, including $168 million in the fourth quarter, according to Performance Trust.

Silvergate Capital in La Jolla, Calif., said it will cut 40% of its workforce and table plans for a blockchain-based payment solution after losing $8.1 billion of digital asset deposits during the fourth quarter. The $15.5 billion-asset company, which is dealing with deposit outflows in its digital assets business, said in a press release that it will reduce headcount by about 200 positions “to account for the economic realities facing

Fulton Financial in Lancaster, Pa., has promoted an insider to serve as president of its private bank. The $26 billion-asset company said in a press release that Dara Bachman is now responsible for leading a team of professionals charged with developing customized wealth management and banking solutions for high-net-worth clients. Bachman, who joined Fulton in April 2021, previously served at director of family wealth. “Dara is the right candidate to