Bank on Women has formed a partnership with the Nasdaq to give exchange-listed community banks access to more board recruiting services.The nonprofit, which looks to increase female representation in the banking industry, said on its LinkedIn page that the arrangement will give smaller banks access to its database of potential director candidates. “We are committed to educating the community banking industry on the competitive advantages of gender diversity in the

First Independence Bank, a black-owned bank in Detroit, has expanded into Minneapolis. The $412 million-asset bank officially debuted the office this week, according to KARE11.com. The office quietly opened in late February. The Federal Deposit Insurance Corp. approved the expansion in January. First Independence has been supported – with capital, research and marketing services – by Bank of America, Bremer Bank, Huntington Bancshares, U.S. Bancorp and Wells Fargo. First Independence customers have fee-free ATM

Finward Bancorp in Munster, Ind., has promoted an insider to become its chief revenue officer. The $2 billion-asset company said in a press release Thursday that Todd Scheub had also become president of its bank. Scheub, who joined Finward in 1996, previously served as the company’s chief banking officer. In the new role, Scheub will focus on strengthening existing relationships, building new business and community relationships. He will continue to provide oversight

CoVantage Credit Union in Antigo, Wis., has agreed to buy LincolnWay Community Bank in New Lenox, Ill. The $2.7 billion-asset CoVantage said in a release that it expects to complete the purchase of the $277 million-asset LWCBancorp unit in the fourth quarter. The credit union did not disclose the price it will pay. LincolnWay has two branches, $243 million of deposits and $197 million of loans. Six credit unions have agreed to buy

Univest Financial in Souderton, Pa., has entered two new markets and is improving its digital banking platform.The $7.1 billion-asset company said in a press release Wednesday that it entered western Pennsylvania and Maryland. Univest hired Chris Trombetta to serve as market president for the western Pennsylvania region and Matthew Cohen to serve as market president for the Maryland region. Trombetta and Cohen will work to identify site in their regions to

Coastal Financial in Everett, Wash., is gaining momentum with its Banking-as-a-Service platform.The $2.8 billion-asset company said total loans in its BaaS division increased by 49% in the first quarter from a quarter earlier, to roughly $515 million. Deposits rose by 26% to $900 million. Coastal gained seven new relationships over the 12-month period that ended on March 31. The business “continues to grow, providing additional fee and interest income,” Eric Sprink, Coastal’s

B.S.D. Capital in Los Angeles has received a license to participate in the Small Business Administration’s 7(a) program. The company, which operates as Lendistry, said in a press release that it can now originate 7(a) loans of up to $5 million. Only 14 nondepository lenders have a small business lending company (SBLC) license, and Lendistry said it is the only black-led lender in the group. “There are millions of new small businesses

Finward Bancorp in Munster, Ind., is evaluating the size of its branch network.The $2 billion-asset company said in a press release Wednesday that it plans to close two locations and is looking at four others for potential closure. If those branches are closed, it would reduce the size of Finward’s network by 20%, to 24 locations. “The redeployment of occupancy expenses into building a digital-forward foundation to meet customer expectations will