Lynn Fuller, who made a number of acquisitions as CEO of Heartland Financial USA, now wants the Dubuque, Iowa, company to consider finding a buyer.Fuller, who retired as CEO in 2018, is part of group that sent a letter to the $19.3 billion-asset company’s board on March 8 “expressing concerns” about management’s decisions tied to “performance, growth and prospects,” according to a regulatory filing. "I would be remiss if I did

Lake Shore Bancorp in Dunkirk, N.Y., disclosed that someone gained unauthorized access to data in its internal systems. The $714 million-asset company said in a regulatory filing that its bank experienced a data security incident in November that barred employees from accessing internal systems and data for “a limited period of time.” The bank immediately launched an investigation and hired a digital forensics firm to help determine the scope of the incident

First Republic Bank in San Francisco expects its founder to return from medical leave next month. The $173 billion-asset bank disclosed in a regulatory filing the co-CEO Jim Herbert will be back on April 4. He has also been reappointed to the board. The leave of absence began on Jan. 1 and was expected to last six months. First Republic also announced in January that it had begun a search for a new

OceanFirst Financial in Red Bank, N.J., is the latest bank to delay the closing date of a planned acquisition. Partners Bancorp in Salisbury, Md., disclosed in a regulatory filing Tuesday that it no longer expects to complete its $186 million sale to the $11.7 billion-asset OceanFirst by the end of the second quarter. The disclosure came after the OceanFirst advised the $1.6 billion-asset Partners that it had “received notice that certain of

Banc of California in Santa Ana is set to receive a large payment that partially addressed a chargeoff it recorded in 2019. The $9.4 billion-asset company said in a regulatory filing Monday that it should receive $31.3 million tied to a settlement with Chicago Title Insurance and Chicago Title. The bank agreed to release the entities from all claims tied to the loan.The bank was one of several companies that accused

Texas National Bank in Sweetwater is planning to introduce a digital bank for bankers. The $170 million-asset bank plans to pilot Bankers Lender in April, according to an articlein Bankers Digest.The initial offerings will include secured and unsecured revolving lines of credit, secured and unsecured closed-end loans and demand deposit accounts. “Bankers are no different from anyone else when it comes to consumer preferences,” Mike Fernandez, Texas National’s president and CEO, said

The Federal Reserve has approved M&T Bank’s pending purchase of People’s United Financial in Bridgeport, Conn. – nearly 380 days after the $7.6 billion deal was announced. The Fed said in a press release late Friday that it will use next year’s stress test to recalculate M&T’s stress test buffer to include the impact of the acquisition. M&T typically runs on a two-year stress test cycle that includes this year. The

A group is looking to form an industrial loan company in Nevada.Capital Card Services, a credit card portfolio manager in Sioux Falls, S.D., is looking to form Capital Preferred Savings Bank in Las Vegas. The company filed an application on Thursday with the Federal Deposit Insurance Corp.The ILC would operate with a Nevada thrift charter.A thrift charter "will provide a channel for unused segments of the credit card universe to obtain and build