Strategic Insights into Banking & Fintech

ACNB in Pennsylvania to buy insurance agency

ACNB in Pennsylvania to buy insurance agency

ACNB Corp. in Gettysburg, Pa., has agreed to buy an insurance agency in Gettysburg. The $2.8 billion-asset ACNB said in a press release Tuesday that it will buy Hockley & O’Donnell Insurance Agency. The deal is expected to close in the “near future,” the company said. ACNB did not disclose the price it will pay. “We are very pleased to have entered into this agreement and look forward to promptly closing this transaction,” James

February 1, 2022
Freshly rebranded BayFirst names new bank president

Freshly rebranded BayFirst names new bank president

BayFirst Financial in St. Petersburg, Fla., has a new bank president. The $917 million-asset company said in a press release Tuesday that Tom Zernick would be responsible for coordinating First Home Bank’s various business lines and for overseeing its delivery and support functions. Zernick has been president of CreditBench, the bank’s Small Business Administration lending division, since 2016. Anthony Leo remains the bank’s CEO. BayFirst also said that Robin Oliver has been promoted to

February 1, 2022
Southern Bancorp to buy fellow Arkansas bank

Southern Bancorp to buy fellow Arkansas bank

Southern Bancorp in Arkadelphia, Ark., has agreed to buy FCB Financial Services in Jonesboro, Ark. The $2.1 billion-asset Southern said in a press release Monday that it expects to buy the parent of the $200 million-asset Premier Bank of Arkansas in the second quarter. It did not disclose the price it will pay. The agreement comes less than two months after Southern received an infusion of capital from the Treasury Department's Emergency

January 31, 2022
Heartland moving ahead with charter consolidation

Heartland moving ahead with charter consolidation

Heartland Financial USA in Dubuque, Iowa, is moving ahead with a plan to consolidate its 11 bank charters. The $19.3 billion-asset company said in a press release Monday that the banks will collapse into a single Colorado-based charter. Each bank will operate under its own brand after the consolidation. The effort is expected to begin in mid-2002 and be completed by the end of 2023. Heartland expects to incur $19 million to $20

January 31, 2022
Banner County in Nebraska to buy Wyoming bank

Banner County in Nebraska to buy Wyoming bank

Banner County Ban Corp. in Harrisburg, Neb.., has agreed to buy Bankers Capital in Lusk, Wyo. The $228 million-asset Banner County said in a press release that it expects to complete the purchase of Bankers Capital and its $68 million-asset Lusk State Bank in the second quarter. Banner County did not disclose the price it will pay. Banner County will gain a branch in Wyoming. Lusk State will operate as an independent

January 31, 2022
Midland States in Ill. to continue working with GreenSky

Midland States in Ill. to continue working with GreenSky

Midland States Bancorp in Effingham, Ill, will continue to work with GreenSky to develop a pipeline of consumer loans. The $7.4 billion-asset company said during its quarterly earnings call that the relationship will continue through at least 2023. GreenSky is being acquired by Goldman Sachs in a deal that is expected to close later this quarter. Midland States has been working with GreenSky for about a decade. Midland States has

January 31, 2022
Fed approves Old National-First Midwest merger

Fed approves Old National-First Midwest merger

Old National Bancorp in Evansville, Ind., has received approval from the Federal Reserve to buy First Midwest Bancorp in Chicago. The Fed announced its approval of the $2.5 billion acquisition on Thursday. The $24.5 billion-asset Old National agreed in June to buy the $21.8 billion-asset First Midwest. The deal is expected to close by early this year. The merger has met some resistance. Several consumer advocacy groups asked regulators in July to conduct public

January 28, 2022
MVB in W.Va. promotes CFO to serve as president

MVB in W.Va. promotes CFO to serve as president

MVB Financial in Fairmont, W.Va., has a new president. The $2.8 billion-asset company said in a press release Thursday that Donald Robinson had transitioned into the role. He will remain MVB’s chief financial officer as the company conducts a national search for a replacement. Robinson succeeded Larry Mazza, who will remain CEO. “To fully execute our strategic plan and to move MVB forward on the financial frontier, we need to ensure that we

January 28, 2022