Strategic Insights into Banking & Fintech

Kentucky First freed from OCC written agreement

Kentucky First freed from OCC written agreement

Kentucky First Federal Bancorp in Frankfort has been freed from an enforcement action. The company said in a press release that the Office of the Comptroller of the Currency released its bank from a August 2024 formal written agreement. With the termination of the agreement, the bank is no longer considered in “troubled condition.” “We are very pleased to have the agreement terminated in less than 20 months," R. Clay Hulette,

February 20, 2026
Hanover Bancorp in N.Y. discloses president’s departure

Hanover Bancorp in N.Y. discloses president’s departure

Hanover Bancorp in Mineola, N.Y., is restructuring its management. The company disclosed in a regulatory filing that Mac Wilcox will step down as president on March 31. He is entitled to a roughly $2.2 million severance benefit. Michael Puorro, the company's chairman and CEO, will become president.

February 20, 2026
OCC frees Touchmark from 2024 formal agreement

OCC frees Touchmark from 2024 formal agreement

Touchmark Bancshares in Alpharetta, Ga., has been freed from a formal agreement with the Office of the Comptroller of the Currency. The $418 million-asset company entered into the agreement in April 2024. "We are excited to announce the termination of the formal agreement ... after 22 months," Bobby Krimmel, Touchmark's president and CEO, said in the release. "On behalf of the board, I would like to thank the OCC for

February 19, 2026
Alabama ONE Credit Union to buy Peoples Independent Bank in Alabama

Alabama ONE Credit Union to buy Peoples Independent Bank in Alabama

Alabama ONE Credit Union in Tuscaloosa has agreed to buy Peoples Independent Bank in Boaz, Ala. The $1.5 billion-asset credit union will pay an undisclosed amount of cash to the holding company of the $477 million-asset Peoples Independent, according to an announcement by Olsen Palmer, which advised the seller. The deal is expected to close in the second half of this year. Peoples Independent has nine branches and $420 million

February 19, 2026
Pioneer Federal in Montana plans mutual-to-stock conversion

Pioneer Federal in Montana plans mutual-to-stock conversion

Pioneer Federal Savings and Loan Association in Deer Lodge, Mont., is planning to convert from a mutual to a stock holding company. The $120 million-asset bank said in a regulatory filing that PSB Financial, a newly formed holding company, plans to sell 1.1 million to 1.7 million shares of common stock for net proceeds of $9.5 million to $15.6 million. Proceeds would be used to strengthen PSB Financial’s capital base

February 19, 2026
Remitly hires Santander exec as its next CEO

Remitly hires Santander exec as its next CEO

Remitly Global in Seattle has hired a former Santander executive as its CEO. The company said in a press release that Sebastian Gunningham also joined its board on Feb. 19. He succeeded co-founder Matt Oppenheimer, who remains chairman. Gunningham previously served as chair of Santander Consumer Finance and vice chair of digital platform, Openbank. “It has been the privilege of a lifetime to work alongside the outstanding team that built

February 19, 2026
Stripe subsidiary Bridge closes in on national trust bank charter

Stripe subsidiary Bridge closes in on national trust bank charter

Stripe, through its Bridge subsidiary, has received conditional approval from the Office of the Comptroller of the Currency for a national trust bank charter. The application, filed in October, was approved on Feb. 12. The license will allow Bridge to issue stablecoins, custody digital assets and offer stablecoin reserve management. The charter “positions Bridge to help enterprises, fintechs, crypto businesses, and financial institutions build with digital dollars inside a clear

February 18, 2026
Organizers of planned Portrait Bank in Fla. gain FDIC approval

Organizers of planned Portrait Bank in Fla. gain FDIC approval

A group in Florida has received conditional approval to open a bank. Organizers of the proposed Portrait Bank in Winter Park were approved by the Federal Deposit Insurance Corp. on Feb. 5. The group, which applied in August, must raise nearly $28 million before opening the bank.

February 18, 2026