FV Bank in San Juan, P.R., has launched a digital asset custody and settlement service. The bank said in a press release that it will serve U.S. and international clients. It will initially handle Bitcoin with the addition of Ethereum, USDC and USDT custody in coming weeks. More digital assets will be added over time. FV Bank said it platform has “robust” compliance and Know Your Customer (KYC), Bank Secrect

OceanFirst Financial in Red Bank, N.J., and Partners Bancorp in Salisbury, Md., have terminated their planned merger after being unable to secure all the necessary regulatory approvals.   The $12.7 billion-asset OceanFirst and the $1.7 billion-asset Partners said in a press release that both boards approved the decision. Each company will bear its own costs and no termination fee will be applied.   OceanFirst agreed to buy Partners in November

Auburn National Bancorp. in Auburn, Ala., has lined up a new CEO. The $1 billion-asset company said in a press release Tuesday that David Hedges will also succeed Bob Dumas as president on Jan. 1. Dumas will remain Auburn National’s chairman. Hedges, the company’s chief financial officer, will also join the board. James Walker, Auburn National’s chief accounting officer, will succeed Hedges as CFO. Dumas has been the president and CEO

Binance has agreed to buy cryptocurrency rival FTX. Binance CEO Changpeng Zhao tweeted on Tuesday that his company had signed a letter of intent to acquire FTX, with due diligence to occur “in coming days.” Zhao said “there is a significant liquidity crunch,” adding that the deal was necessary to “protect users.” "Things have come full circle, and FTX.com’s first, and last, investors are the same,” FTX CEO Sam Bankman-Fried

Orrstown Financial in Shippensburg, Pa., has revised its third-quarter earnings downward to reflect the settlement of a class-action lawsuit. The $2.8 billion-asset company on Monday agreed to pay $13 million to a group led by the Southeastern Pennsylvania Transit Authority. The lawsuit, filed in 2012, took issues with statements the company made in association with a 2010 public offering. The payout reduced Orrstown’s third-quarter net income by $10.3 million. The

Sterling Bancorp in Southfield, Mich., is dealing with a mortgage partner’s decision to shut down. The $2.5 billion-asset Sterling said in a press release that a recent decision by Promontory MortgagePath to end operations will impact the banking company’s current mortgage program. Sterling earlier this year began to outsource its mortgage loan production services to Promontory MortgagePath in a deal that let the bank continue to actively participate in residential

Silvergate Capital in La Jolla, Calif., has a new president. The $15.5 billion-asset company said in a press release that Ben Reynolds had taken on the role. He succeeded Alan Lane, who remains CEO. Reynolds joined Silvergate in 2016 to lead the growth of its digital asset initiative. He has held various roles, including business development, operations, product and strategy functions. Silvergate also named Kate Fraher as its chief risk

Bank of Commerce in Ammon, Idaho, has a new president. The $.19 billion-asset bank tapped Mike Morrison to fill the post. He previously served as the bank’s chief credit officer. “I am certain that Mike will do an outstanding job in his new role and will lead the bank to continued success,” Tom Romrell, the bank’s CEO, said in a press release. Morrison joined the bank in 1997, according to