An investor who tried to buy Golden Pacific Bancorp in Sacramento, Calif., has been banned from the banking industry. The Federal Reserve said it banned Karl Klessig for providing a fraudulent loan document and forged signature when he applied to buy the bank two years ago. “Klessig’s deceptive conduct in connection with his effort to acquire control of the bank exposed the institution to probable financial loss or could have prejudiced the

Blake Paulson, who briefly served as acting comptroller in 2021, is one of three members of the Office of the Comptroller of the Currency’s executive committee who are stepping down on July 1.The agency said Paulson, senior deputy comptroller for supervision risk and analysis, will fully retire on Aug. 31. Jay Gallagher, deputy comptroller for systemic risk identification support and specialty supervision, will succeed Paulson as acting senior deputy comptroller. Kathy Murphy,

Horizon Bancorp in Michigan City, Ind., has tapped a former bank executive as its lead director. The $7.4 billion-asset company said in a press release Friday that Michele Magnuson will succeed Daniel Hopp on June 30. Hopp’s three-year term as lead director is set to end; he will also reach Horizon’s mandatory retirement age be the end of this year. Magnuson was president and chief financial officer of LaPorte Bancorp. She

Burke & Herbert in Alexandria, Va., plans to form a holding company.The $3.6 billion-asset bank said in a press release Wednesday that it will seek regulatory approval to create Burke & Herbert Financial Services."We believe the new corporate structure will provide further financial and operational flexibility for the Bank and is an important part of the continued success of the Bank," E. Hunt Burke, the bank’s chairman, said in the

BankFirst Capital in Columbus, Miss., has agreed to buy Tate Financial in Senatobia, Miss. The $2 billion-asset BankFirst said in a press release Thursday that it expects to complete the purchase of the parent of the $330 million-asset Sycamore Bank in the third quarter. The price was not disclosed.The acquisition “will be another milestone in the implementation of our strategic plan to serve our customers and communities and increase shareholder value,”

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