Wings Financial Credit Union in Apple Valley, Minn., has agreed to buy Settlers Bank in DeForest, Wis. The $8 billion-asset Wings said in a press release that it expects to complete the purchase of the $390 million-asset Settlers by the middle of 2023. The price wasn’t disclosed. Wings plans to rebrand Settlers’ branches as Settlers Best Credit Union, a division of Wings Financial Credit Union. Settlers “was started 15 years

Home Bancorp Wisconsin in Madison will pay a distribution to its shareholders as part of its planned dissolution. The former holding company of the Home Savings Bank said in a press release that it will pay $28.15 a share to investors around Nov. 21. Around that time, the company’s shares will be removed from the OTC Pink marketplace. Home said it expects the final winding up process to take up

Credit union associations in Kansas and Texas are set to merge on Dec. 31. The Cornerstone League and Heartland Credit Union Association said in a press release that their members approved the merger. About 93% of the members that voted backed the combination. Seventeen of the 20 objections came from the Heartland Credit Union Association. “In merging … we’re building upon our experience as a three-state league to chart the

Three Minnesota credit unions have filed a lawsuit against the state’s banking regulator in an attempt to override the agency’s refusal to approve credit union-bank deals. The lawsuit, filed in Ramsey County District Court on Sept. 20 by Magnifi Financial Credit Union, Royal Credit Union and Wings Financial Credit Union, claims that the Minnesota Department of Commerce and Commissioner Grace Arnold, erred when they rejected an application by Lake Area

Two credit unions bid to buy the banking unit of Citizens Bancshares, but tax considerations and potential challenges in securing regulatory approval led the Kansas City, Mo., company to negotiate with Southern Missouri Bancorp in Poplar Bluff. The $3.2 billion-asset Southern Missouri agreed on Sept. 20 to buy the $1 billion-asset Citizens for $140 million. Citizens initially tried to find a buyer in the fall of 2020, according to a

Signature Bank of Georgia in Sandy Springs has a new CEO. The $187 million-asset bank said in a press release that Charlie Brown had taken on the role. Brown previously served as president and CEO of Loyal Trust Bank, according to his LinkedIn profile. “Charlie’s significant experience in banking combined with his leadership skills and high personal energy level will help fuel Signature’s mission of future growth and being the

Financial institutions processed nearly $1.2 billion of suspected ransomware payments last year. The Financial Crimes Enforcement Network (FinCEN) said there were 1,489 ransomware attacks in 2021, based on data from Bank Secrecy Act filings. Financial institutions reported $416 million of damages a year earlier. FinCEN determined that “a substantial number of ransomware attacks appear to be connected to actors in Russia.” Ransomware remains “a serious threat to our national and

Wells Fargo in San Francisco is holding discussions with the Consumer Financial Protection Bureau to address a number of investigations. The $1.9 billion-asset company, which set aside $2 billion in the third quarter to deal with legal matters, made the disclosure in its quarterly filing with the Securities and Exchange Commission. “The company is in resolution discussions with the CFPB regarding a number of … investigations, inquiries and other matters,