Several credit unions have named new CEOs heading into 2023. The $628 million-asset Dover Federal Credit Union in Dover, Del., appointed Janell Upton as its president and CEO, effective Jan. 23. Upton, formerly an executive vice president at Education Federal Credit Union, will replace Chaz Rzewnicki, who left last summer to become president and CEO of Vibe Credit Union in Miami. Donna Kiscaden, who has been serving as Dover’s interim

Juniata Valley Financial in Mifflintown, Pa., has agreed to buy a branch from Orrstown Financial in Shippensburg, Pa. The $815 million-asset Juniata said in a press release that it will buy a location in Path Valley, Pa., along with $31.7 million of deposits. No loans will be included in the sale. The deal is expected to close in the second quarter. The price wasn’t disclosed. The $2.8 billion-asset Orrstown announced

A shareholder group has updated an offer to significantly increase its investment in Republic First Bancorp in Philadelphia. A group that includes George Norcross III, Philip Norcross and Gregory Braca sent the $5.6 billion-asset company’s investment bank a term sheet that proposes making a direct investment of $75 million. The group would invest by buying newly issues nonvoting common stock. The move would require shareholder approval. The Norcross-Braca group has

The CEO of Citizens National Bank at Brownwood in Texas is retiring. John Guest will step down on Dec. 31, according to the Brownwood News. Guest, who joined the $288 million-asset bank in 1982, became its president in 2010. He has been CEO since 2014. Guest will remain on the bank’s board.

Richmond Mutual Bancorp. in Richmond, Ind., will soon have a new bank president. The $1.3 billion-asset company disclosed in a regulatory filing that Paul Witte will also become chief operating officer of First Bank Richmond on Jan. 1. Witte, the bank’s chief lending officer, will succeed Garry Kleer, who will remain the company’s chairman, president and CEO and the bank’s chairman and CEO. Witte manages First Bank Richmond's commercial lending

Currency Bank in Baton Rouge, La., has raised more capital. The $124 million-asset bank said in a press release that it brought in $4 million. Axxess Partners, the bank’s holding company, raised roughly $26 million in May 2021, around the time that it acquired Commerce Community Bank and rebranded it as Currency. Currency said in a LinkedIn post that the capital will “further bolster” its “strong capital position.” “We decided

State Bankshares in Fargo, N.D., raised roughly $37.3 million in capital. The parent of the $11.7 billion-asset Bell Bank brought in the funds through a Dec. 16 private placement of common stock, according to data compiled by Performance Trust Capital Partners. It is unclear what the company’s plans are for the capital.

De novo activity, while far off levels seen before the 2008 financial crisis, had notable momentum in 2022. Fifteen new banks opened this year, raising at least $362 million in total capital, based on date from the Federal Deposit Insurance Corp. That compares to 10 de novos the year before and eight in 2020. It was the highest single-year total since 2009. Three banks debuted in Arizona: Scottsdale Community Bank