Westpac Banking in Australia and BankSouth in Greensboro, Ga., participated in the latest round of fund-raising for Kasisto, a New York company that developed a virtual assistant the banks use. Kasisto, which specializes in conversational artificial intelligence (AI), raised $15.5 million in the funding round, which was led by Westpac and FIS. Kasisto raised $15.5 million earlier this summer. "We believe the future of banking experiences will become ever more contextual and

The Independent Community Bankers of America has voiced its opposition to Ford Credit Bank becoming an industrial loan company. Ford Motor Co. applied for the ILC in late July. The ICBA, which has for years opposed the ILC, argued that approving the application would let Ford “skirt regulatory oversight and violate longstanding U.S. policy separating banking and commerce.” The association, in a letter to the Federal Deposit Insurance Corp., expressed concerns that

First Bancshares in Hattiesburg, Miss., has consolidated the titles of chairman and CEO. The $6 billion-asset company said in a press release Friday that CEO Hoppy Cole had also become its chairman. He succeeded E. Ricky Gibson, who remains on the board. Ted Parker was named lead independent director. Gibson “has been an integral part and significant contributor to the success of our company,” Cole said in the release. “Under his leadership …

Simmons First National in Pine Bluff, Ark., has hired an executive to oversee the delivery of its Community Reinvestment Act plan. The $27.2 billion-asset company said in a press release Friday that Maurice Butler was named director of community development. Butler will also be responsible for developing products and solutions designed to support the needs of low- and moderate-income communities. Butler "has a wealth of experience in the banking industry," Joe DiNicolantonio, head

Another credit union has called off a proposed bank acquisition after hitting a roadblock. The board of the $10.6 billion-asset GreenState Credit Union in North Liberty, Iowa, has decided to give up on trying to buy the $369 million-asset Premier Bank, according to the Credit Union Times. A judge decided earlier this month that the Nebraska Department of Banking and Finance could deny GreenState’s application to buy the Omaha, Neb., bank. VyStar Credit

Ponce Financial Group in Bronx, N.Y., has formed an environmental, social and governance (ESG) committee. The $1.7 billion-asset company said the committee is comprised of the executive management team that reports directly to the board. Frank Perez, who was recently named chief investor relations officer, will lead the initiative.The committee has adopted an ESG charter and policy to oversee and manage Ponce’s ESG initiatives. Ponce plans to conduct a company-wide assessment

United Community Banks in Greenville, S.C., has added a former Truist Financial executive to its board.The $24.2 billion-asset company said in a press release Thursday that George Bell had become a director. Bell recently served as software engineering group head at Truist. He also worked at Truist predecessor BB&T and Bank of America. Bell “embodies a skillset identified by our Board as essential to the growth of our company and we

Organizers of the proposed Nave Bank in San Juan, Puerto Rico, have tapped a veteran banker to serve as its chairman and CEO. The group disclosed in an amended application with the Federal Deposit Insurance Corp. that Carlos Garcia would also serve as chairman and CEO of Nave Holdings, the bank’s proposed holding company. Garcia, who is also set to become president of commercial banking, is a director at Professional Holding and