A group in Florida is looking to form a de novo bank. Organizers of Evermore Bank in Fort Lauderdale applied on Tuesday with the Federal Deposit Insurance Corp. for deposit insurance. The group plans to raise $26 million to $45 million of initial capital, according to the application. Organizers intend to open a second branch in Wellington, Fla., during the first quarter of the bank's first year of operations.The goal is for

Signature Bank in New York is set to raise about $739 million of offensive capital.The $118 billion-asset bank said in a regulatory filing Tuesday that it will sell 2.1 million shares of common stock at $352 each. The underwriters can sell another 315,000 shares if there is demand. The bank said it plans to use the proceeds for general corporate purposes. Goldman Sachs, Morgan Stanley and Jefferies were the bookrunners in the

The first chief innovation officer at the Federal Deposit Insurance Corp. is resigning. Sultan Meghji disclosed in a tweet Tuesday that he will step down on Feb. 18.  “Being the first chief innovation officer of this agency has been a tremendous honor,” he said in the tweet. “It was a dream to be able to bring my experience to help ensure the safety and soundness of the American banking system,” he added.

SoFi has received conditional approval from the Office of the Comptroller of the Currency to acquire Golden Pacific Bank in Sacramento, Calif. The regulatory agency said in a press release Tuesday that it also approved Social Finance’s application to create SoFi Bank, which will be based in Cottonwood Heights, Utah. SoFi will have $5.3 billion of assets and $718 million of capital at the end of its first year of operation. The

Texas First Bank in Texas City is planning to launch a multicurrency debit account as part of a partnership with fintech Rêv Worldwide. The $2 billion-asset bank is set to introduce X World Wallet, a product that will eventually be offered to other community banks and credit unions, according to a press release. X World Wallet will be marketed to Americans who travel to or shop in countries such as Mexico

Atlantic Union Bankshares in Richmond, Va., has given a top bank executive more responsibility. The $19.9 billion-asset company said in a press release Monday that it had appointed Maria Tedesco to serve as chief operating officer of Atlantic Union Bank. She will remain the bank’s president, a position she has held since 2018. In the expanded role, Tedesco will oversee consumer and business banking, wholesale banking, wealth management and mortgages. She will

A pair for former Talmer Bancorp bankers are part of an effort to open a de novo in a Detroit suburb.Organizers of Community Unity Bancorp in Birmingham, Mich., applied on Jan. 12 with the Federal Deposit Insurance Corp. for deposit insurance. “We will serve the banking needs of our market area through commercial lending in the small business to lower middle-market commercial segments, full-service retail, mortgage and others, including in underserved

Five banks are part of a group formed to mint and use USDF stablecoins.The initial members of the USDF Consortium include New York Community Bank, NBH Bank, FirstBank, Sterling National Bank and Synovus Bank. Figure Technologies and JAM FINTOP, which are also among the founders, will facilitate and promote the adoption of USDF. Figure has spent recent years developing the USDF, which operates on the Provenance blockchain. The consortium said in