Bank of Princeton in New Jersey is looking to form a holding company. The $1.7 billion-asset bank is asking shareholders to approve forming Princeton Bancorp at the 2022 annual meeting set for April 29. Bank of Princeton said in a regulatory filing that the reorganization would give it “a greater ability” to raise Tier 1 capital, which would help it “to continue to grow at the rate we desire, including through acquisitions,

Thirteen minority depository institutions will soon pilot a program designed to boost the financial wellness of minority communities. The pilot – led by the National Bankers Community Alliance, the HBCU Community Development Action Coalition and iGrad – will help the MDIs create a customized financial wellness website, issue calls to action and reward consumers for improved financial behaviors. The MDIs, which were not identified, will be able to provide in-person counseling, online

Origin Bancorp in Ruston, La., first approached BT Holdings in Quitman, Texas, about an acquisition two years before they agreed to a deal. The $7.9 billion-asset Origin agreed to buy the $2 billion-asset BT Holdings in February for $313.5 million in stock. Drake Mills, president and CEO of the $7.9 billion-asset Origin, originally reached out to Bob Dyer, who was BT’s chairman and CEO, in early 2019 to seek a meeting, according

U.S. Bancorp in Minneapolis highlighted partnerships with Microsoft, Morningstar and a fintech firm as part of its quarterly results. The $587 billion-asset company said in its earnings press release that it selected Microsoft Azure as its primary cloud provider. U.S. Bancorp said cloud computing will handle the majority of its infrastructure and application portfolio with cloud computing, allowing it rapidly access and analyze data. The company also touted its collaboration with Driveway

A group in Austin, Texas, has formed an association to advocate for financial institutions that offer Banking-as-a-Service (BaaS) products. Bankers Helping Bankers, a bankers-only platform, said in a press release that it had formed the BHB Banking-as-a-Service Association. The association plans to coordinate legislative and regulatory advocacy efforts for BaaS providers and promote best practices and standards for delivering services to nonbanks. The plan is to encourage bankers to share experiences, insights, successes

A pair of community banks is facing proxy challenges from activist investors. Middlefield Banc Corp. in Beachwood, Ohio, is dealing with pressure from Ancora Advisors to find a buyer. The investor included a proposal for consideration at the $1.3 billion-asset Middlefield’s annual meeting that would recommend that the board “take the necessary steps to achieve a sale, merger, or other disposition of the company on terms that will maximize shareholder value as

Hovde Group has hired a former banker to bolster its coverage of the financial services sector. Brian Urness said in a LinkedIn post that he had been hired as a bank equity research associate. He joined the firm’s Nashville, Tenn., team. Urness previously worked at FirstBank in Nashville, where he most recently served as a senior Treasury analyst, according to his LinkedIn profile. Before joining FirstBank, he was an asset and liability management

Codorus Valley Bancorp in York, Pa., which has faced pressure from an activist investor, will appoint three independent directors and review its compensation and risk policies under a new governance effort. The $2.3 billion-asset company said the decision reflected input from shareholders, including Driver Management. Driver, which owns about 6.7% of Codorus Valley's common stock, has spent recent months pushing for reforms and encouraging the bank to find a buyer. Codorus Valley