Capitol Federal Financial in Topeka, Kan., is set up upgrade its core back-office system aa it nears $10 billion of assets. The $9.6 billion-asset company plans to complete the conversion in September 2023, Andrew Liesch, an analyst at Piper Sandler, wrote in a note to clients following meetings with top executives. “This new core should allow [Capitol] to introduce more products and services – and at a faster pace –

Middlefield Banc in Middlefield, Ohio, will have a new CEO in a few weeks. The $1.3 billion-asset company said in a press release Thursday that James Heslop II, its chief operating officer, will also become its president on April 1. He will succeed Thomas Caldwell, who is retiring. Caldwell will also retire from Middlefield’s board. The company said it will reduce the size of its board from 10 to nine directors

Truist Financial in Charlotte, N.C., has agreed to buy Kensington Vanguard National Land Services, a title insurance company in New York.The $517 billion-asset Truist said in a press release that it will integrate its existing unit, BridgeTrust Title, into the Kensington Vanguard platform. Truist did not disclose the price it will pay. The acquisition is expected to close by late March. "Kensington Vanguard has grown considerably over the past 15 years through a

Zions Bancorp. in Salt Lake City has agreed to buy three branches in northern Nevada from Royal Bank of Canada.The $65 billion-asset Zions said in a press release that its Nevada State Bank division will gain locations in Reno, Carson City and Minden. Royal Bank of Canada inherited the branches from its 2015 acquisition of City National Bank.The deal is expected to close in the third quarter. Zions did not

The turnaround story at Sterling Bancorp in Southfield, Mich., continues. The $3.1 billion-asset company said in a press release Thursday that it has agreed to sell a pool of commercial real estate loans to an unnamed buyer. The pool includes 21 loans with an aggregate outstanding balance of $56.8 million. The loans, which are primarily secured by single-room occupancy hotel properties, were reclassified as held for sale and written down to fair value

Peoples Bancorp in Marietta, Ohio, has agreed to buy Vantage Financial, a nationwide provider of equipment financing. The $7.1 billion-asset Peoples said in a press release Wednesday that it will pay $54 million in cash for the Excelsior, Minn., lender. Peoples will also repay about $21 million of recourse debt on behalf of Vantage.The deal is expected to close next month.Vantage, which was founded in 2011, offers mid-ticket equipment leases mostly

Webster Financial in Stamford, Conn., has agreed to buy Bend Financial, a cloud-based platform tied to health savings accounts. The $65 billion-asset Webster said in a press release Wednesday that it plans to complete the acquisition by the end of March. Webster did not disclose the price it will pay for the Boston company, which helps employers and individuals manage and track their HSAs. "This acquisition demonstrates Webster's commitment to enhance HSA

Live Oak Bancshares in Wilmington, N.C., has hired an executive to oversee its embedded banking efforts. The $8.2 billion-asset company said in a press release Tuesday that Jake Tupa, as head of embedded banking, will report to Stephanie Mann, its executive vice president of corporate development and strategy. Tupa previously worked at Choice Financial and Citigroup, where he managed fintech partnerships, technology innovation and digitization efforts.“We are very pleased to have Jake