Daylight, a challenger bank focused on the LGBTQ+ community, plans to offer a family planning subscription service after raising $15 million in new capital. Daylight said in a press release that the funding was led by Anthemis Group. Vinay Singh, managing director at Anthemis Group, will join Daylight's board. "Family creation is a major life event for queer people and the challenges we face are increasingly more complex than those

First Community Bankshares in Bluefield, Va., has agreed to buy Surrey Bancorp in Mount Airy, N.C. The $3.6 billion-asset First Community said in a press release that it will pay $113.2 million in stock for the $500 million-asset Surrey. The deal, which is expected to close in the second quarter, priced Surrey at 194% of its tangible book value. Surrey has seven branches, $244 million of loans and $436 million of

Visa will soon have a new CEO. The company said in a press release that Ryan McInerney, its president, will succeed Alfred Kelly on Feb. 1. Kelly, who has been CEO since 2016, will remain chairman. “I cannot think of a finer leader to continue to position Visa at the center of money movement in increasingly innovative ways,” Kelly said in the release. “Ryan has boundless energy and passion for this business and

Commerce Bancshares in Kansas City, Mo., has agreed to buy municipal bond underwriter and adviser L.J. Hart & Co. The $32.6 billion-asset Commerce didn’t disclose the price it paid for the St. Louis, Mo., company. L.J. Hart has advised more than 300 Missouri public school districts and nearly a quarter of the 114 Missouri county governments. It has underwritten more than 2,600 municipal financings for a par value of more

Ergo Bank in Markesan, Wis., has agreed to buy Farmers & Merchants Bank of Kendall in Wisconsin. The $138 million-asset Ergo submitted its application to buy the $79 million-asset Farmers & Merchants on Wednesday. Farmers & Merchants, formed in 1913, has three branches, $60 million of loans and $64.8 million of deposits. The application wasn’t immediately available.

First United in Oakland, Md., has acquired First Mortgage Services in Cumberland, Md. The $1.8 billion-asset First United said in a press release that First Mortgage has originated nearly $900 million of consumer mortgages since 1997. The price wasn’t disclosed. The acquisition “will enhance our ability to assist our customers and market areas,” Carissa Rodeheaver, First United’s chairman, president and CEO, said in the release. “The acquisition is expected to

Northstar Bank in Bad Axe, Mich., has acquired Cypress Capital Wealth Management in Ann Arbor, Mich. The $901 million Northstar, a unit of Northstar Financial Group, retained James Housler, Cypress Capital’s founder and president, according to DBusiness Magazine. The price wasn't disclosed. “Personalization is the future of financial services, so the acquisition of Cypress Capital Wealth Management makes good business sense,” said Kevin Nelson, Northstar Financial’s CEO. “I have followed

Citizens State Bank in Cadott, Wis., has agreed to buy Community Financial Bank in Prentice, Wis. The $169 million-asset Citizens State said in a press release that it expects to complete the purchase of the $49 million-asset Community Financial early next year. The price wasn't disclosed. Community Financial has two branches. “We are very excited about our expansion into these new markets,” Tim Cruciani, Citizens State’s president and CEO, said