Lead Bank in Kansas City, Mo., has been sold to a company tied to former Square Capital leader Jacqueline Reses.The $779 million-asset Lead Bank said in a press release that it was sold on Aug. 1 to Luna Parent. Reses is co-president of Luna. The price was not disclosed. "This acquisition is the culmination of my family's decades-long investment in serving the community of Kansas City," Josh Rowland, Lead Bank’s vice chairman

A former executive at First NBC Bank has admitted to his role in a conspiracy to defraud the New Orleans bank prior to its April 2017 failure. The U.S. Attorney’s Office for the Eastern District of Louisiana said in a press release Tuesday that Robert Calloway, who had been an executive vice president, pleaded guilty to one count of conspiracy to commit bank fraud. He faces up to five years in

CF Bankshares in Columbus, Ohio, is no longer selling its mortgage originations to investors.The $1.6 billion-asset company said in a press release Wednesday that it exited the business in the second quarter in favor of portfolio lending with servicing retained. The notional amount of mortgages sold fell to $9.4 million in the second quarter from $972 million a year earlier. The company recognized $121,000 in revenue from mortgage activities during the

LendingClub in San Francisco will add two financial services professionals to its board. The digital lender said in a press release Monday that Faiz Ahmad and Kathryn Reimann will become directors on Aug. 15. The company also said that Patricia McCord would step down from the board on Sept. 30. Reimann is an adjunct professor at New York University School of Law, where she focuses on corporate compliance and enforcement. She previously

Bank of Burlington in South Burlington, Vt., has been cleared to open. Organizers said in a press release that the de novo had received its certificate of insurance from the Federal Deposit Insurance Corp. and a certificate of authority from the State of Vermont Department of Financial Regulation. “We are delighted to announce the opening of Bank of Burlington,” Geoffrey Hesslink, the bank’s chairman and CEO, said in the release. "Bank of Burlington

Grasshopper Bank in New York has raised $30.4 million of fresh capital.The $305 million-asset bank said in a press release that the investors included Carpenter & Co., Endeavour Capital Advisors, FJ Capital Management, GCP Capital Partners and Patriot Financial Partners. Most of those participants were existing investors. "Our strategic direction is set,” Mike Butler, Grasshopper's CEO, said in a press release. “The new capital will further support our growth and solidify our

Deposit inflows from Banking-as-a-Service (BaaS) and digital assets partially offset an exodus of more traditional deposits at Provident Bancorp in Amesbury, Mass. The $1.8 billion-asset company said that overall deposits at June 30 fell by 1.4% from the end of 2021, to $1.4 billion. Traditional deposits fell by 3.3%, to about $1.1 billion. Another $14 million of deposits tied to enterprise value customers left the bank over the first half of 2022. Provident

F.N.B. Corp. in Pittsburgh is looking to fill some gaps in Virginia.The $42 billion-asset company said it had hired Wes York to open a commercial lending office in Richmond. It also plans to open at least 11 offices in Northern Virginia and Washington, D.C., by 2024.F.N.B. currently has seven branches in the Washington area.York previously worked at South State, where he was a commercial team leader, according to his LinkedIn