Another credit union has called off a proposed bank acquisition after hitting a roadblock. The board of the $10.6 billion-asset GreenState Credit Union in North Liberty, Iowa, has decided to give up on trying to buy the $369 million-asset Premier Bank, according to the Credit Union Times. A judge decided earlier this month that the Nebraska Department of Banking and Finance could deny GreenState’s application to buy the Omaha, Neb., bank. VyStar Credit

Ponce Financial Group in Bronx, N.Y., has formed an environmental, social and governance (ESG) committee. The $1.7 billion-asset company said the committee is comprised of the executive management team that reports directly to the board. Frank Perez, who was recently named chief investor relations officer, will lead the initiative.The committee has adopted an ESG charter and policy to oversee and manage Ponce’s ESG initiatives. Ponce plans to conduct a company-wide assessment

United Community Banks in Greenville, S.C., has added a former Truist Financial executive to its board.The $24.2 billion-asset company said in a press release Thursday that George Bell had become a director. Bell recently served as software engineering group head at Truist. He also worked at Truist predecessor BB&T and Bank of America. Bell “embodies a skillset identified by our Board as essential to the growth of our company and we

Organizers of the proposed Nave Bank in San Juan, Puerto Rico, have tapped a veteran banker to serve as its chairman and CEO. The group disclosed in an amended application with the Federal Deposit Insurance Corp. that Carlos Garcia would also serve as chairman and CEO of Nave Holdings, the bank’s proposed holding company. Garcia, who is also set to become president of commercial banking, is a director at Professional Holding and

TowneBank in Suffolk, Va., has agreed to buy Farmers Bankshares in Windsor, Va.The $16.9 billion-asset TowneBank said in a press release Thursday that it will pay $56 million in stock for the $609 million-asset Farmers. The deal, which is expected to close in the first quarter, priced Farmers at 196% of its tangible book value.TowneBank will enter Isle of Wight and Southampton counties when the deal is completed. Farmers has

Northwest Bancshares in Columbus, Ohio, has a new CEO.The $14 billion-asset company said in a press release Thursday that Louis Torchio will also serve as its president. Torchio, who joined the company in 2018, recently served as senior executive vice president of retail lending and business banking. Before he joined Northwest, Torchio held senior leadership and executive committee posts at Charter One Bank, Bank One and Mellon Bank. At Northwest, Torchio supervised

Bank of America in Charlotte, N.C., said its overdraft-service fees in June and July fell by 90% from a year earlier, reflecting policies designed to back off of such charges. The $2.2 trillion-asset BofA said in a Wednesday press release that consumer client overdraft fees made up less than 0.4% of its total revenue in the second quarter. For consumer accounts, the company eliminated nonsufficient funds (NSF) fees and reduced overdraft fees

Live Oak Bancshares in Wilmington, N.C., is set to benefit from the pending sale of Payrailz to Jack Henry & Associates. The $9.1 billion-asset Live Oak disclosed in a regulatory filing that it expects to report a $29 million pretax gain tied to its investment in Payrailz. The gain would be recorded when the acquisition closes. The announcement comes months after Live Oak said it would likely realize a $115 million pretax