Colony Bankcorp in Fitzgerald, Ga., announced an efficiency initiative designed to lower annual expenses by $3 million starting in the third quarter. The $2.7 billion-asset company said in a press release Thursday that it plans to close two branches and eliminate 25 positions in its banking division. Colony said it is targeting a 60% efficiency ratio within three years. That ratio was 77% on March 31.

Amerant Bancorp in Coral Gables, Fla., has sold $57.3 million of loans in New York City.The $7.8 billion-asset company said in a press release Wednesday that had $68.6 million of New York City loans available for sale on March 31. Amerant said its portfolio of New York City loans fell by 24% during the first quarter, to $373 million.

Fidelity Bank in Scranton, Pa., is moving its corporate headquarters. The $1.8 billion-asset bank said in a press release Thursday that it bought the Scranton Electric Building in downtown Scranton for the new office. Fidelity said the entire project is expected to cost $20 million, though it received about $4 million from Pennsylvania’s Redevelopment Assistance Capital Program. The building “was originally home to the Board of Trade, the center of commerce for northeastern

Triumph Bancorp in Dallas has designated 15 branches in rural markets, along with some factored receivables, for eventual sale. The $6.1 billion-asset company said in a press release that the branches are located in eastern Colorado and western Kansas. Triumph said $159.2 million of loans and $367.3 million of deposits were also designated as held-for-sale on its balance sheet. About $80.8 million of non-transportation factored receivables, along with $10.4 million of related

Central Pacific Financial in Honolulu said its first Banking-as-a-Service client is on pace to launch its first product this summer. The $7.3 billion-asset company said in a press release Wednesday that Swell Financial should debut its integrated checking and line-of-credit account in a matter of months. The fintech is working with Central Pacific and Elevate Credit. Central Pacific and Elevate also participated in a $10 million Series A capital raise for Swell. Central Pacific

Triumph Bancorp in Dallas tapped a new president for its bank as part of a broader management restructuring. The $6 billion-asset company said in a press release Tuesday that Todd Ritterbusch had been named president of TBK Bank. Ritterbusch previously oversaw the bank’s retail and treasury management teams. Ed Schreyer was named chief operating officer of Triumph Bancorp and TBK Bank. Gail Lehmann was tapped to serve as chief regulatory and

Another state has intervened to impede a credit union’s pending purchase of a bank. The Minnesota Department of Commerce has rejected the sale of Lake Area Bank in Lindstrom, Minn., to Royal Credit Union in Eau Claire, Wis. The agency determined that, in Minnesota, “a state-chartered bank is not authorized to transfer its assets and liabilities to a credit union for the purpose of consolidating or merging out of existence,” according to

Pathfinder Bancorp in Oswego, N.Y., has made an abrupt change in leadership. The $1.3 billion-asset company said in a press release Tuesday that James Dowd had been named interim president and CEO, succeeding Thomas Schneider, who resigned effectively immediately. Schneider, who also stepped down from the board, was named the company’s director of capital markets and corporate strategy. Pathfinder said Schneider wanted “a less time-consuming role due to recent health issues