An investor group no longer plans to buy Eureka Homestead Bancorp in Metairie, La. Eureka Investor Group agreed to pay the $96.8 million-asset bank $325,000 in fees tied to the termination. About $200,000 of the fees were paid in April through the release of funds from an existing escrow account. The termination occurred because the investor group was unable to raise the funds needed to close the deal on time.

Elemi Bank, a proposed bank in California that received conditional approval from the Federal Deposit Insurance Corp. last fall, will not open. The FDIC updated the proposed de novo's status with no explanation why organizers scrapped their plans for the bank. The agency had required organizers to raise $25 million before opening Elemi. The group behind the bank applied with the FDIC in late 2023. The proposed bank would have

Choice Bank in Fargo, N.D., added three banking veterans, including a former CEO, to its board. The $5.6 billion-asset unit of Choice Financial said in LinkedIn post that Cathy Nash, Randy Bryan, and Andrew Jackson had become directors. Nash is a former CEO of Citizens Republic Bancorp and Woodforest National Bank. Bryan is a former executive at First Horizon and Iberiabank, while Jackson was at Huntington National Bank and TCF

Union Bankshares in Morrisville, Vt., could raise up to $40 million in the coming months by selling common stock. The company disclosed in a regulatory filing that it had entered into an equity distribution agreement with an investment bank to sell stock "from time to time." Union will set parameters for the offering, including the number of shares to be issued, the time period for selling stock, and any minimum

Steven Sugarman is moving quickly to reshape the future of Patriot National Bancorp as he works to turn around the Stamford, Conn., company. Sugarman, who is leading a group that will infuse $50 million into the $974 million-asset company and recently became president and CEO, has begun rebuilding the leadership team with several familiar faces from his time at Banc of California. Patriot added three new members to its bank

First National Bank in Fort Pierre, S.D., has agreed to buy Wyoming Bank & Trust in Cheyenne. The $1.7 billion-asset First National plans to buy the $342 million-asset Wyoming Bank in the third quarter. The price wasn't disclosed. “By joining our two well-established community banks, we will be able to better serve the growing market in the Rocky Mountain region," Craig Davis, First National's president, said in a statement. Wyoming

Finastra has agreed to sell its treasury and capital markets unit to an affiliate of private equity firm Apax Partners. The U.K. company did not disclose the price to be paid by Apax. The deal is expected to close in the first half of next year, when the business will be rebranded and operate as a standalone entity. The deal will allow Finastra to focus more on its core banking

Community Bank Delaware in Lewes raised capital by selling common stock. The bank raised $1.8 million on May 14 with a private placement, based on data compiled by Performance Trust Capital Partners. The shares sold, pricing and investors were not readily available.