A shareholder group interested in replacing the CEO of Republic First Bancorp has increased its stake in the Philadelphia company. George Norcross III, Gregory Braca and Philip Norcross, who raised their stake from 6.6% to 8.8%, reiterated in the Feb. 7 regulatory filing their desire to meet with the $5.4 billion-asset company’s board. The investors said they had a “brief and unproductive conversation” with Vernon Hill, who “indicated no interest on his

The Federal Reserve and the Office of the Comptroller of the Currency will hold a public meeting to discuss U.S. Bancorp’s pending purchase of MUFG Union Bank. The Fed and OCC said in a press release Monday that they will host a virtual meeting on March 8 at 11 am EST. Members of the public seeking to present oral comments must register by noon on March 1 through the online registration webpage. Public

MidWestOne Financial Group in Iowa City is looking for its next CEO. The $6 billion-asset company said in a regulatory filing Monday that Charles Funk will retire later this year. He will remain a director. MidWestOne said it had hired an executive search firm to identify and evaluate potential successors. The company said internal and external candidates will be considered, and that Funk will work with the search firm “to ensure the successful

The acting chairman of the Federal Deposit Insurance Corp. wasted no time indicating a new direction for the agency following the resignation of his predecessor. Martin Gruenberg made it clear in a Monday release that the FDIC’s priorities include taking a closer look at cryptocurrency and climate change, reviewing how it vets large bank mergers and finalizing a series of capital rules. Gruenberg, who stepped in after the Feb. 4 departure of

CF Bankshares in Columbus, Ohio, is taking a regional approach to equipment finance. The $1.5 billion-asset company recently hired Chad Owens at head of equipment finance to oversee an effort to expand into Indiana, Michigan, Pennsylvania, West Virginia and Kentucky. CF said it plans to add and enhance its commercial lending products and capabilities as part of the initiative. Owens was previously a vice president at Key Equipment Finance. Before that, he was

A group has filed a request to form a new bank in Houston. Organizers of Houston Bank of Commerce & Trust applied with the Federal Deposit Insurance Corp. on Jan. 31 for deposit insurance.Mark Jacobs is set to become the bank's president and CEO, according to the application. He recently served as the Houston area president for Regions Bank.Ryan Edone, chief financial officer of Petroleum Wholesale, would serve as the

Robert Klingler, a veteran banking attorney, has a new law firm. Klinger announced in a tweetMonday that he had joined Nelson Mullins Riley & Scarborough as a partner in its financial institution corporate and regulatory group. The move was also reflected in his LinkedIn profile. Klinger previously worked at Bryan Cave Leighton Paisner, where he was a banking attorney in the firm’s financial services corporate and regulatory team from 2009 to 2022. In

Live Oak Bancshares in Wilmington, N.C., will record a large one-time gain when Fiserv buys cloud-based core system Finxact. Fiserv said in a press release Monday that it will buy the remaining ownership stake in Finxact for about $650 million. “We’re accelerating the delivery of innovative digital banking experiences for our clients and elevating their ability to compete in a rapidly changing market,” Frank Bisignano, Fiserv’s president and CEO, said in the