Origin Bancorp in Ruston, La., reported significantly lower quarterly earnings due to its exposure to TriColor Holdings. The $9.8 billion-asset company said in a press release that its third-quarter profit fell 54% from a year earlier, to $8.6 milli0n. The quarter included a $36.8 million loan-loss provision that "was primarily related to the suspected borrower fraud impacting" the loan relationship with Tricolor. The quarter included $28.4 million net chargeoffs tied

Nicolet Bankshares in Green Bay, Wis., has agreed to buy MidWestOne Financial Group in Iowa City. The $9.5 billion-asset Nicolet said in a press release that it will pay $864 million in stock for the $6.2 billion-asset MidWestOne. The deal, which is expected to close in the first half of next year, priced MidWestOne at 166% of its tangible book value. "We view the people at MidWestOne as true kindred

Community First Credit Union of Florida in Jacksonville has invested in Digital Assets Service Organization,  Frement, Calif., credit union service organization. The $2.8 billion-asset credit union did not disclose the size of its investment. The CUSO plans to use the proceeds to enhance its credit union automation platform to an agentic platform. "By partnering with DASO, we’re empowering our credit union to leverage automation intelligence agents to streamline operations, reduce

BankIn Minnesota in Bloomington, Minn., has a new leader. The association said in a press release that Rich Jones had become its president and CEO. Jones, who was president and CEO of Randall State Bank, succeeded Jim Amundson, who become president and CEO of United Bankers' Bank. Randall State is selling to Security State Agency in Aitkin, Minn. Jones has been the association's vice chair. “Rich is a proven leader with

Third Coast Bancshares in Houston has agreed to buy Keystone Bancshares in Austin, Texas. The $5.2 billion-asset Third Coast said in a press release that it will pay $123 million in cash and stock for the $1.1 billion-asset Keystone. The deal, which is expected to close in the first quarter, priced Keystone at 123% of its tangible book value. Keystone has three branches and a loan-production office. The acquisition "aligns

Jane Fraser is now the chair of CItigroup in New York. The company said in a press release that Fraser, who has been CEO since 2021, had succeeded John Dugan, who had been chair since 2019. Dugan is now the lead independent director. The board granted Fraser a one-time equity award, consisting of restricted stock units with a grant date value of $25 million and 1.055 million Citi stock options.

SmartFinancial in Knoxville, Tenn., reported higher quarterly profit after selling its insurance business and purging underwater securities. The $5.8 billion-asset company said in a press release that its third-quarter earnings rose by 51% from a year earlier, to $13.7 million. SmartFinancial recorded a $4 million pretax gain tied to selling SBK Insurance. That gain offset a $3.9 million pretax loss from selling about $85 million of available-for-sale securities.

Farmers National Banc Corp. in Canfield, Ohio, has agreed to buy Middlefield Banc Corp. in Middlefield, Ohio. The $5.4 billion-asset Farmers said in a press release that it will pay $299 million in stock for the $2 billion-asset Middlefield. The deal, which is expected to close in the first quarter, priced Middlefield at 163.5% of its tangible book value. Two Middlefield directors will join Farmers' board. The acquisition "brings together