Provident Bancorp in Amesbury, Mass., is the latest bank to report traction in its Banking-as-a-Service (BaaS) platform. The $1.8 billion-asset company said in a press release Friday that deposits with BaaS customers increased by 58% in the first quarter from a quarter earlier, to $94.3 million. Provident said its portfolio of digital asset loans decreased by 7% from a quarter earlier after a client paid down a $35 million credit line.

Codorus Valley Bancorp in York, Pa., which recently reached a truce with an activist investor, disclosed a series of moves to revitalize its mortgage and small business lending operations. The $2.4 billion-asset company said in a press release Thursday that it created three jumbo mortgage products geared toward physicians, entrepreneurs, and private banking and private wealth clients. The company also launched an online mortgage application and hired a sales manager during the

Meta Financial in Sioux Falls, S.D., stands to profit from selling it name to a group affiliated with Facebook. The $6.9 billion-asset company said in a press release Thursday that it expects rebranding expenses to total $15 million to $20 million – far less than the $60 million it will receive for changing its name. Meta, which plans to rebrand as Pathward Financial, incurred $2.8 million in expenses during the first quarter

Blue Ridge Bankshares in Charlottesville, Va., has sold a payroll business. The $2.7 billion-asset company said in a press release Thursday that it sold a majority stake in MoneyWise Payroll Solutions in Charlottesville to the firm’s other investor during the first quarter. The company also said it has active partnerships with a number of fintechs, including Unit, Flexible Finance, Increase, Upgrade, Kashable, Jaris, Aeldra, Grow Credit, MentorWorks and Marlette.  Blue Ridge

Primis Financial in McLean, Va., has agreed to buy a mortgage lender.The $2.4 billion-asset company said in a press release Thursday that it expects to acquire SeaTrust Mortgage from Community First Bank in the second quarter. Primis said in a regulatory filing that it will pay $7 million in cash and repay about $13.8 million of SeaTrust's debt under certain warehouse lending facilities.SeaTrust, formed in 2019, originates mortgages through eight

Quaint Oak Bancorp in Southampton, Pa., disclosed that it bought a majority stake in an equipment finance company. The $568 million-asset company said in a press release Thursday that it bought a 51% stake in Oakmont Capital Holdings on Jan. 4. The company did not disclose the price it paid.Oakmont has offices in West Chester, Pa., and Albany, Minn. Oakmont conducts business in all 50 states. Quaint Oak said it has

South State in Winter Haven, Fla., is the latest regional bank to do away with nonsufficient funds fees. The $46 billion-asset company said in a press release Thursday that it will modify its consumer overdraft program to eliminate NSF fees, as well as transfer fees to cover overdrafts. South State said it will introduce a deposit product with no overdraft fees.  The changes will be start to take place in the

BayFirst Financial in St. Petersburg, Fla., has laid off more than 60 mortgage employees and added a national Small Business Administration platform. The $889 million-asset company said in a press release that it cut 65 jobs in the first quarter, including 62 within its residential mortgage division. BayFirst said the impact of the layoffs will not be realized until the second quarter and beyond. BayFirst also hired two large mortgage production teams