Texas Regional Bank in Harlingen, Texas, has entered into insurance brokerage after buying an agency. The $2.5 billion-asset bank said in a press release that it bought Mission Duncan Insurance in Mission, Texas, on Dec. 2. The price wasn’t disclosed. "We place a heavy emphasis on relationships," Michael Scaif, Texas Regional’s chairman and CEO, said in the release. "Our goal is to guide our customers on their financial journeys, and

NBT Bancorp in Norwich, N.Y., has agreed to buy Salisbury Bancorp in Lakeville, Conn. The $11.6 billion-asset NBT said in a press release that it will pay $204 million in stock for the $1.5 billion-asset Salibury. The deal is expected to close in the second quarter. Salisbury has 14 branches, $1.3 billion of deposits and $1.2 billion of loans. “The organizational values upheld by the Salisbury team align very well

Grand River Commerce in Grandville, Mich., has formed a mortgage company. The $527 million-asset company said that Grand River Mortgage has a national platform. Bob Bilotti, the company’s chairman, president and CEO, told MiBiz that the mortgage company should secure licensing in about 46 states by early 2023. About 60 people work for the mortgage company, which was backed by more than $8 million of capital. The mortgage industry “has

SVB Financial Group in Santa Clara, Calif., has filled two key executive posts. The $212.9 billion-asset SVB said in a press release that Erin Platts had been named president of SVB Private and David Sabow will become CEO of Silicon Valley Bank UK and Head of EMEA. Sabow’s appointment requires U.K. regulatory approval. Platts and Sabow will move into their new roles in the second quarter. Platts will also join SVB's executive committee.

Webster Financial in Stamford, Conn., has agreed to buy StoneCastle Insured Sweep from StoneCastle Partners. The $65 billion-asset Webster said the business, which operates as interLINK, is a deposit management platform that administers more than $9 billion of deposits from FDIC-insured cash sweep programs between banks and broker/dealers and clearing firms. InterLINK administers about 520,000 retail brokerage accounts on behalf of broker/dealers and clearing platforms. The deal is expected to

TD Bank Group and Bank of Montreal have pushed back the projected closing dates for their purchase of U.S. banks. TD said on Thursday that it expects to complete the acquisition of First Horizon in Memphis, Tenn., by April 30. The $13.4 billion deal was originally expected to close last fall. The delay will trigger a financial incentive for First Horizon shareholders. First Horizon investors will receive an additional 65

LendingClub in San Francisco has agreed to buy a roughly $1.1 billion portfolio of personal loans from the parent company of MUFG Union Bank. The loans, originated through LendingClub’s marketplace, were acquired by MUFG Union Bank. U.S. Bancorp recently bought MUFG Union from Mitsubishi UFJ Financial in Tokyo. LendingClub is servicing the loans, which have an outstanding principal weighted average FICO score of 729. The price wasn’t disclosed. “LendingClub utilized

Triumph Bancorp in Dallas has rebranded as Triumph Financial. The $5.6 billion-asset company said in a press release that it had also replaced its “TBK” stock symbol with “TFIN.” Triumph Business Capital, Triumph Insurance Group and Triumph Commercial Finance were rebranded as Triumph. The changes “reflect our evolution from a bank holding company to a financial and technology company focused on payments, factoring and banking,” Aaron Graft, Triumph’s vice chairman