Heartland Financial USA has removed Lynn Fuller as chairman after the Dubuque, Iowa, company’s retired CEO openly questioned its strategic direction and pressed for the board to find a buyer. The $19.3 billion-asset company said in a press release Wednesday that the board had appointed John Schmidt to serve as independent chairman. He joined the board in 2001. The board determined that Fuller “was no longer best positioned to serve in the

Monona Bank and State Bank of Cross Plains are planning to merge. The Wisconsin banks said in a press release Tuesday that the deal is expected to close by the end of this year. They did not disclose any financial details. The $1.2 billion-asset Monona Bank and the $1.7 billion-asset State Bank of Cross Plains would operate independently until next spring. The name of the combined bank has not yet been determined.

Trustmark in Jackson, Miss., has joined a growing list of banks that are eliminating nonsufficient funds fees. The $17.6 billion-asset company disclosed in a Tuesday regulatory filing that it plans to do away with NSF fees by the end of this year. Trustmark said the move could reduce annual revenue by about $2 million in 2023. “Trustmark intends to establish a de minimis transaction amount for consumer checking accounts to eliminate overdraft charges

Organizers of a proposed de novo bank in Phoenix have hired an investment bank to assist it with raising capital. Integro Bank said in a press release Tuesday that it had retained PNC Capital Markets as its placement agent. The organizing group said in on its website that it is looking to bring in $26.7 million to $51.7 million in initial capital. Organizers submitted an application in June 2021 with the Federal

Van Wert Federal Savings Bank in Van Wert, Ohio, which is planning to convert to a stock-owned company, disclosed that it is also looking to hire a new president and CEO. The $134 million-asset mutual said in a prospectus that it plans to sell 1.85 million to 2.51 million shares of stock in VWF Bancorp between now and the end of June at $10 a share. Net proceeds would likely range

Southern Missouri Bancorp in Poplar Bluff has promoted its chief financial officer to serve as president and CEO of its bank. The $3.2 billion-asset Southern Missouri said in a press release Friday that Matthew Funke had also been named the company’s president and chief administrative officer, effective July 1. He is expected to join the company’s board. Funke has been the bank’s CFO since 2006 and an executive officer of the company

MVB Financial in Fairmont, W.Va., plans to buy a minority stake in a mortgage company. The $2.8 billion-asset company said in a press release Monday that it will acquire a 38% interest in Warp Speed Holdings for $48 million in cash and stock. The deal is expected to close in mid-2022. Warp is the parent for a group of companies that includes CalCon Mutual Mortgage, One Trust International and Warp Speed Mortgage.

Amerant Bancorp in Coral Gables, Fla., is consolidating the roles of chairman and CEO. The $7.6 billion-asset Amerant said in a press release that Jerry Plush, its president and CEO, will succeed Frederick Copeland Jr. as chairman when Copeland retires after the company’s June 8 annual meeting. Amerant said that J. Guillermo Villar will also retire following the meeting. The company will add four new directors – Orlando Ashford, Samantha Holroyd, John