St. Landry Homestead Federal Savings Bank in Opelousas, La., has rebranded. The $287 million-asset bank said in a press release Thursday that it had officially changed its name to Catalyst Bank. The change follows the bank’s mutual-to-stock conversion in October that created Catalyst Bancorp. “Our customers played a key role in helping us raise over $50 million in completing our” Joe Zanco, Catalyst’s president and CEO, said in the release. “Their investment has

The Consumer Financial Protection Bureau plans to step up its examination of certain financial institutions’ overdraft policies. The bureau said in a blog Friday that it has been piloting a supervision effort to collect key metrics from 20 institutions regarding the consumer impact of their overdraft and nonsufficient fund (NSF) practices. It did not name the institutions. The information includes the total annual dollar amount consumers receive in overdraft coverage compared

New Peoples Bank in Honaker, Va., has made “significant progress” getting its computer systems back online.The $813 million-asset bank said in a tweetthat all transactions, aside from ATM and debit card transactions from June 15 to June 17, have been processed and should be posted today. The bank said online and mobile banking services should also resume today. The bank said in a post on its website last week that it was “working

First Bancorp in Southern Pines, N.C., has agreed to buy GrandSouth Bancorp. in Greenville, S.C. The $10.5 billion-asset First Bancorp said in a press release Tuesday that it will pay $181.1 million in stock for the $1.3 billion-asset GrandSouth. The deal, which is expected to close late this year or in early 2023, priced GrandSouth at 180% of its tangible book value. GrandSouth has eight branches, $900 million of loans, and

Washington Business Bank in Olympia, Wash., has agreed to sell itself to Stripe co-founder Darragh Buckley. The $106 million-asset bank said in a press release that an unnamed investor planned to buy all of its outstanding stock for $30 a share in cash. The transaction is expected to close in the second half of this year. An offer to purchase document disclosed the Buckley is the investor. Washington Business Bank said it would keep

Let's talk about overdraft fees.Citigroup just announced that it had removed overdraft, overdraft protection transfer and returned item fees from its Citi Retail Banking consumer accounts, among other changes. It is the largest U.S. bank to make such dramatic changes to its policies. But many other banks are reducing or eliminating overdraft and nonsufficient funds (NSF) fees. While some of this is likely tied to the Consumer Financial Protection Bureau's heightened

ECB Bancorp in Everett, Mass., is letting investors buy more shares of its stock as part of its mutual-to-stock conversion. The $733 million-asset ECB said in a press release Tuesday that the maximum purchase limitation for individual investors was increased from 35,000 shares to 55,000 shares.  The limit for a collective of purchasers was raised from 50,000 shares to 70,000 shares. Completion of the conversion of Everett Co-operative Bank, and the stock

Digital Federal Credit Union in Marlborough, Mass., will soon have a new CEO. The $9.8 billion-asset credit union said in a press release that Shruti Miyashiro will also succeed the retiring Jim Regan as president on Aug. 1.  Miyashiro has been the CEO of the $2.3 billion-asset Orange County’s Credit Union in California since 2007. Regan has been in his current positions at DCU for the past 13 years. Regan’s “leadership, commitment and