Southern First Bancshares in Greenville, S.C., said its bank recently received a “needs to improve” rating from the Federal Deposit Insurance Corp. tied to its compliance with the Community Investment Act.The $2.9 billion-asset company disclosed in a regulatory filing Friday that the notice, received on March 16, covers the period from Feb. 12, 2018, to March 29, 2021. The filing provided no other details about the rating. “We are proud of our

Republic First Bancorp in Philadelphia is planning to delay its 2022 annual meeting while it conducts an investigation into certain related-party transactions. The $5.4 billion-asset company disclosed in a regulatory filing Friday that its auditors, as part of a review of its 2021 financial statements, advised management and the chairman of the audit committee that it thought an independent investigation should be conducted. The filing said the related-party transactions are the subject

USCB Financial Holdings in Miami has added a high-profile banking consultant to its board. The $1.9 billion-asset parent if U.S. Century Bank said in a press release Friday that it had appointed Robert Kafafian as an independent director and serve on the bank’s asset and liability committee. Kafafian is the founder, chairman and CEO of The Kafafian Group. Kafafian “exemplifies the qualities we are seeking in a new director – a broad

Benchmark Bankshares in Kenbridge, Va., has agreed to buy a branch in Emporia, Va., from First Community Bankshares in Bluefield, Va.The $1 billion-asset Benchmark said in a press release that it will also buy the deposits housed at the branch. No loans are changing hands. The branch had $65.8 million of deposits in June 2021, based on the most recent data from the Federal Deposit Insurance Corp. The deal is expected to

Ponce Financial Group in Bronx, N.Y., has hired a former regulator as its chief operating officer.The $1.7 billion-asset company said in a press release Friday that Luis Gonzalez Jr. will have the same role at its bank. Gonzalez held several posts at the Office of the Comptroller of the Currency over 15 years, at one point serving as acting assistant deputy comptroller.  Gonzalez “will be an outstanding addition to our management

Patience is becoming a virtue with VyStar Credit Union’s still-pending purchase of Heritage Southeast Bank in Jonesboro, Ga. The $11.7 billion-asset Vystar said late Thursday that the $196 million acquisition is being delayed for a third time as it awaits regulatory approval. This time, the closing has been pushed back to June 30. The credit union agreed to buy the $1.7 billion-asset bank in March 2021; if it closes it would

BankGuam Holding in Hagatna said its chairman has retired as an employee of the company.The $2.8 billion-asset company disclosed in a regulatory filing Friday that William Leon Guerrero’s employment contract recently expired. He will remain BankGuam’s chairman. Guerrero was the bank's chief operating officer from its founding in 2011 until he was named chairman in 2019. The company also disclosed that it extended the contracts for Joaquin P.L.G. Cook, its president and

National Bank Holdings in Denver has agreed to buy Bancshares of Jackson Hole in Jackson Hole, Wyo.The $7.2 billion-asset National Bank said in a press release Friday that it will pay $230 million in cash and stock for the $1.6 billion-asset parent of Bank of Jackson Hole. The deal, which is expected to close in the second half of this year, priced Bancshares of Jackson Hole at 196% of its