Burke & Herbert Financial Services in Alexandria, Va., has agreed to buy LINKBANCORP in Camp Hill, Pa. The $8 billion-asset Burke & Herbert said in a press release that it will pay $354.2 million in stock for the $3.1 billion-asset LINKBANCORP. The deal, which is expected to close in the second quarter, priced LINKBANCORP at 151% of its tangible book value. The acquisition “marks another transformative milestone in Burke &

Farm Credit Bank of Texas has a new leader lined up. The lender hired Brandon Blaut as its CEO, effective Jan. 1, based on a LinkedIn post by Chartwell Partners, which handled the search. Blaut, who was the chief operating officer, will succeed the retiring Amie Pala. “We were honored to partner with the board of directors of Farm Credit Bank of Texas on this important leadership transition,” Scott Petty

CVB Financial in Ontario, Calif., has agreed to buy Heritage Commerce in San Jose, Calif. The $15 billion-asset CVB said in a press release that it will pay $811 million in stock for the $5.6 billion-asset Heritage. The deal, which is expected to close in the second quarter, priced Heritage at 151% of its tangible book value. “This will be the most strategic and the largest acquisition by assets in

Community West Bancshares in Fresno, Calif., has agreed to buy United Security Bancshares in Fresno. The $3.6 billion-asset Community West said in a press release that it will pay $191.9 million in stock for the $1.2 billion-asset parent of United Security Bank. The deal, which is expected to close in the second quarter, priced United Security at 143.7% of its tangible book value. Dennis Woods, United Security's chairman, president and

Organizers of the proposed Erebor Bank in Columbus, Ohio, have received conditional approval from the Federal Deposit Insurance Corp. The proposed bank must have $276 million in initial capital, FDIC-compliant protocols for deposit account processing in the event of a bank failure, and maintain a 12% minimum Tier 1 leverage ratio during its first three years of operations. The bank must also ensure access to additional capital via a capital

Paducah Bank and Trust in Paducah, Ky., will start the new year with a new leader. The $997 million-asset bank said in a press release that Ashley Johnson will become its president and CEO on Jan. 2. She will also join the board. Johnson, the bank's chief banking officer, will succeed Mardie Herndon, who will retire at the end of the year.

PayPal Holdings in San Jose, Calif., has applied for an industrial loan charter. The payments giant said in a press release that it plans to form PayPal Bank in Utah. The proposed bank would enable PayPal to more efficiently provide lending solutions to U.S. small businesses while reducing reliance on third parties. "Securing capital remains a significant hurdle for small businesses striving to grow and scale," Alex Chriss, PayPal's president

West Union Bank in West Union, W.Va., will start 2026 with a new CEO. The $296 million-asset bank said in a press release that Michael Malfregeot will also become its president on Jan. 1. Malfregeot, who is a senior lender, will succeed Tom Whaling, who is retiring. "Michael has a strong vision for the future," Whaling said in the release. "He loves banking, West Virginia, and the people of West