MainStreet Bancshares in Fairfax, Va., disclosed a data security incident that exposed information tied to less than 5% of its customers. The company disclosed in a regulatory filing that it became aware in March that an outside vendor to the core bank had been compromised. MainStreet activated its incident response process, concluding that "the incident's impact would likely not be material." MainStreet said it "swiftly" ceased all activity with the

Princeton Bancorp in Princeton, N.J., will recognize a $9.9 million impairment charge tied to two delinquent commercial real estate loans where it is a participant. The company disclosed in a regulatory filing that, at March 31, it $25.3 million of its nonperforming assets were tied to the CRE credits. Princeton said the lead lender for the participation is marketing the underlying collateral for potential sale. The decision to take the

Merchants National Bank in Hillsboro, Ohio, is ready to finalize its CEO succession. The $1.3 billion-asset bank said in a press release that Paul Pence Jr. will retire as CEO on Dec. 31. He will remain chairman. Denise Fauber, the bank's president and chief operating officer, will succeed Pence. Fauber will remain president. The board "expresses its deep appreciation for Paul’s long-tenured leadership, recognizing the steadfast commitment and vision he

First Seacoast Bancorp in Dover, N.H., didn't have to look far to find its next CEO. The $593 million-asset company said in a press release that James Brannen had stepped into the role. He was the company's president. Richard Donovan, who is the chief financial officer, became president. “I have served on the bank's board ... for more than 10 years and in my tenure have had the honor of

Wells Fargo in San Francisco has been freed from another enforcement action. The $1.9 trillion-asset company said that the Office of the Comptroller of the Currency terminated a 2015 agreement tied to previously held financial subsidiaries that were out of compliance with the Gramm-Leach-Bliley Act. Seven orders have been lifted this year, and 13 since 2019. Wells has one consent order remaining, though it is with the Federal Reserve and

Woodsboro Bank in Frederick, Md., has a new leader. The bank said in a press release that Rich Ohnmacht will become its CEO on July 1. Ohnmacht, who will remain president, will succeed Steve Heine, who will become a senior adviser and remain on the board. The board "is excited to expand the breadth of Rich’s thoughtful approach to leadership through this new role,” Gordon Cooley, Woodsboro's chairman, said in

First IC Corp. in Doraville, Ga., considered offers from two other bidders before agreeing to sell itself to MetroCity Bankshares in Doraville. The $2.9 billion-asset MetroCity Bankshares announced in March that it would buy the $1.2 billion-asset First IC for $206 million in a deal expected to close in the fourth quarter. The process began when First IC received three proposals late last year, including one from MetroCity. The unnamed

Seacoast Banking Corp. of Florida in Stuart has agreed to buy Villages Bancorp. in The Villages, Fla. The $15.7 billion-asset Seacoast said in a press release that it will pay $710.8 million in cash and stock for the $4.1 billion-asset Villages. The deal, which is expected to close in the fourth quarter, priced Villages at 161% of its tangible book value. Villages has 19 branches, $3.5 billion of deposits and