Sterling Bancorp in Southfield, Mich., significantly increased its fourth-quarter earnings after revising the fair value of a commercial real estate loans it sold. The $2.9 billion-asset company said in a press release Thursday that it earned $8.1 million in the quarter, compared to the $4.8 million it reported in early February. Sterling determined after reporting its quarterly results that the estimated fair value of the loans at Dec. 31 should have been

Citizens Bank of Edmond in Oklahoma has been designated a women-owned depository institution by the Federal Reserve. Jill Castilla, the $370 million-asset bank’s president and CEO, made the announcement on her Twitter feed. “The OCC lists only a dozen women-owned/women-led banks in the nation,” she tweeted. “We’re so excited … to add one more!” The designation "provides our bank resources and access to funds that will further support of commitment to sustain for

CRB Group in Fort Lee, N.J., has raised $620 million in new capital.The parent of the $9.1 billion-asset Cross River Bank said in a press release Wednesday that the funding was led by Eldridge and Andreessen Horowitz. Other investors included funds and accounts advised by T. Rowe Price Investment Management, Whale Rock and Hanaco Ventures.  Several of Cross River’s existing investors also participated, while FT Partners was the strategic and

The Federal Deposit Insurance Corp. is seeking public comments after releasing proposed steps big banks should consider to manage exposure to climate-related financial risks. The federal agency said in a press release Wednesday that it the principles are focused on banks with more than $100 billion of assets. "The proposed statement of principles represents an initial step toward the promotion of a consistent understanding of the effective management of climate-related financial risks," Martin

Nicolet Bankshares in Green Bay, Wis., has agreed to buy Charter Bankshares in Eue Claire, Wis. The $7.7 billion-asset Nicolet said in a press release Wednesday that it will pay $158 million in cash and stock for the $1.1 billion-asset Charter. The deal, which is expected to close in the third quarter, priced Charter at 167% of its tangible book value. “Charter has a history of serving its customers and a deep-rooted

Seacoast Banking Corp. of Florida in Stuart will enter Miami through its pending purchase of Apollo Bancshares in Miami. The $9.7 billion-asset Seacoast said in a press release Tuesday that it will pay $168.3 million for the $1 billion-asset Apollo. The deal is expected to close early in the fourth quarter. Apollo has five branches, $928 million of deposits and $665 million of loans. The bank attempted to sell itself to Suncoast

MetaBank in Sioux Falls, S.D., will rebrand as Pathward. The $7.6 billion-asset bank said in a press release Tuesday that the plan is to shift to the new name by the end of this year.  Meta Financial, the bank’s holding company, will become Pathward Financial."Expanding financial access is too complex and important to be a part-time activity, which is why we’ve made financial inclusion for all the heart of everything we

Rita Lowman, former president of Pilot Bank, has joined the board of a Venice, Fla., wealth manager.Caldwell Trust Co. said in a press release Tuesday that Lowman had accepted the position. “Rita’s experience with banking issues, combined with her financial expertise and passion for serving nonprofit institutions, makes her an ideal fit and very welcome addition to our board,” Kelly Caldwell Jr., Caldwell Trust’s president and CEO, said in the release. Pilot,