Cambridge Bancorp in Massachusetts has agreed to buy Northmark Bank in North Andover, Mass.The $5 billion-asset Cambridge said in a press release Monday that it will pay $63 million in stock for the $442 million-asset Northmark. The deal, which is expected to close in the fourth quarter, priced Northmark at 118% of its tangible book value. The deal is expected to be 5.8% accretive to Cambridge’s 2023 earnings per share, excluding

Ohio Valley Banc Corp. in Gallipolis has a new CEO. The parent of the $1.2 billion-asset Ohio Valley Bank said in a press release Monday that Larry Miller II had also become CEO of its bank. Miller, who was the company’s chief operating officer, succeeded Thomas Wiseman, who remains chairman. Ryan Jones was named Ohio Valley’s chief operating officer. He will remain the company’s chief risk officer. “We are committed to remaining

Moultrie Bank & Trust, a recently approved de novo bank, has opened. The bank opened on May 9, the Federal Deposit Insurance Corp. noted on its website. Organizers were required in a Dec. 13 order from the FDIC to raise $20 million before opening. The group behind the de novo applied for deposit insurance last July. A consultant for the group said last summer that Donna Lott would serve as the bank’s CEO, while Collin

FirstBanc of Alabama in Talladega has agreed to buy two branches from Southern States Bancshares in Anniston, Ala.    The $850 million-asset FirstBanc said in a press release Monday that it will buy locations in the Alabama communities of Heflin and Ranburne. Most of the loans and deposits will also transfer to FirstBanc.    The branches had $62.5 million of deposits in mid-2021, based on data from the Federal Deposit

Organizers of the proposed Walden Mutual Bank have received conditional approval from the New Hampshire Banking Department. Walden Mutual, which is seeking to become the first new mutual in years, has already made a few loans. The bank would be based in Concord. The group behind the effort is looking to raise at least $25 million of initial capital, Charley Cummings, the proposed bank’s founder, told the Concord Monitor. He said the

Friendly Hills Bancorp in Whittier, Calif., has created a specialty lending group focused on financing commercial trucks and vehicles. The parent of the $292 million-asset Friendly Hills Bank said in a press release Monday that its truck lending group will provide capital for buying or refinancing on-road medium duty and heavy duty vehicles. The division will provide direct funding, including grants from the California Air Resources Board and support under the California

Cape Cod Five Cents Savings Bank in Hyannis, Mass., has new leadership. The $4.6 billion-asset bank said last week that Matt Burke had become its CEO, while Bert Talerman was named its president. They each succeeded Dorothy Savarese, who will remain executive chairman for one more year. “Cape Cod 5 is an organization whose purpose and mission I have believed in since joining the bank 10 years ago, and I look forward

First Northern Community Bancorp in Dixon, Calif., is preparing for its next leader. The $1.9 billion-asset company said in a press release Friday that Louise Walker will retire as president and CEO on Dec. 31. Jeremiah Smith, First Northern’s chief operating officer, will succeed Walker on Jan. 1. Walker will remain the company’s board, while Smith will become a director when he is promoted. “After 12 years as CEO, navigating some of the most challenging