First State Bank in Loomis, Neb, has agreed to buy Farmers and Merchants Bank in Axtel, Neb. The $191 million-asset First State expects to complete its purchase of the $11.5 million-asset Farmers and Merchants by the end of this year. “We have always had a good working relationship with Farmers and Merchants and believe that the relationships we have developed over the years will pave the way for an excellent

Provident Financial Services in Iselin, N.J., has agreed to buy Lakeland Bancorp in Oak Ridge, N.J. The $13.7 billion-asset Provident said in a press release Tuesday that it will pay $1.3 billion in stock for the $10.4 billion-asset Lakeland. The deal, which is expected to close in the second quarter, priced Lakeland at 154% of its tangible book value. “The scale and profitability of the combined organization will enable us

Provident Financial Services in Iselin, N.J., has a new chief information security officer. The $13.7 billion-asset company said in a press release Thursday that it had hired Damiano Tulipani to fill the post. He will have a role overseeing Provident’s information and cybersecurity policies, procedures and practices. Tulipani “brings with him an impressive breadth and depth of experience helping to provide exceptional protection to organizations from cyberattacks and data breaches

Union County Savings Bank in Elizabeth, N.J., has hired a former state banking commissioner as its general counsel. The $1.8 billion-asset bank hired Michael Horn, who is currently a partner at McCarter & English, according to ROI-NJ.com. “Mike’s legal acumen and experience in the banking industry is second to none,” Joseph Yewaisis, the bank’s chairman and CEO, was quoted on the website. “Mike brings a wealth of knowledge and expertise to

Three community banks recently raised capital through private placements. NexBank Capital in Dallas said in a press release that it brough in $50 million after selling nearly 200,000 shares of common stock. The $13.3 billion-asset company said it plans to use the net proceeds for growth capital and other purposes. KeyStone Bancshares in Austin, Texas, raised $18 million, while RiverBank Holding in Spokane, Wash., brough in nearly $4.4 million, according

CNB Financial in Clearfield, Pa., has raised $91 million after selling common stock. The $5.3 billion-asset company disclosed in a regulatory filing that it sold about 4.3 million shares at $23.50 each. The offering included more than 550,000 shares issued under the underwriters’ overallotment option. CNB said it plans to use the net proceeds from the offering for purposes that could include funding of organic growth or acquisitions. The offering

BayFirst Financial in St. Petersburg, Fla, is shutting down its nationwide network of mortgage production offices. The $922 million-asset company said in a Wednesday press release that the decision reflects “the precipitous decline in mortgage volumes and the uncertain outlook for mortgage lending over the coming quarters.” BayFirst will continue to originate mortgages in its local Florida markets. “This decision allows the bank to focus [its] resources on building a

Southern Missouri Bancorp in Poplar Bluff has agreed to buy Citizens Bancshares in Kansas City, Mo. The $3.2 billion-asset Southern Missouri said in a press release Wednesday that it will pay $140 million in cash and stock for the $1 billion-asset parent of Citizens Bank and Trust Co. The deal, which is expected to close in the first quarter, priced Citizens at 150% of its tangible book value. Citizens has