Strategic Insights into Banking & Fintech

Security Federal in S.C. lines up successors for retiring CEO, CFO

Security Federal in S.C. lines up successors for retiring CEO, CFO

Security Federal in Aiken, S.C., made some key C-Suite changes. The company said in a press release that J. Chris Verenes will retire as its CEO on July 10. Darrell Rains, the chief financial officer, will retire on the same date. Rains joined the company's board, while Verenes will become vice chairman. “The company and the bank will continue to benefit from the knowledge and experience that Chris and Darrell

June 5, 2026
NSTS in Illinois divests mortage ops ahead of sale to Brookfield

NSTS in Illinois divests mortage ops ahead of sale to Brookfield

NSTS Bancorp in Waukegan, Ill., sold its mortgage business to comply with the terms of its pending sale to Brookfield Bancshares in Brookfield, Ill. The $333.4 billion-asset Brookfield agreed in May to pay $73.7 million in cash for the $266.6 million-asset NSTS in a deal expected to close in the fourth quarter. NSTS transferred certain assets, including real estate leases, third-party vendor contracts, trademark rights and other IT assets to

June 5, 2026
First Federal in Florida to sell third-party mortgage ops to CUSO

First Federal in Florida to sell third-party mortgage ops to CUSO

First Federal Bank in Lake City, Fla., has agreed to sell its third-party mortgage origination division. The $4.4 billion-asset bank said in a press release that it will sell the division, including QRL Financial, to Mortgage Forward in Chicago, a credit union service organization affiliated with Great Lakes Credit Union. The price wasn't disclosed. The sale is expected to close in the third quarter. The sale “allows our talented and dedicated

June 5, 2026
Ramp raises $750 million in latest fundraising round

Ramp raises $750 million in latest fundraising round

Ramp raised $750 million in a Series F fundraising round. The fintech said the funding round valued it at $44 billion. The round included 70,000+ customers, ICONIQ, GIC, Ontario Teachers'​ Pension Plan, and several new investors. "For 2000 years, business was built on two pillars. Today, a third: intelligence," CEO Eric Glyman said in a LinkedIn post. "It’s your least governed cost. It’s also your single greatest opportunity."

June 4, 2026
CCBank in Utah creates Quill Bank to target fintech clients

CCBank in Utah creates Quill Bank to target fintech clients

CCBank in Pleasant Grove, Utah, created a bank division designed to offer services to fintechs. The bank said in a press release that Quill Bank will launch on June 30. "The fintech space is driven by innovation, but innovation without a solid banking backbone can be a liability," Andrew Cusick, CCBank's chief business development officer, said in the release. "Quill Bank exists because the fintechs we work with deserve a

June 4, 2026
Groups seek bank charters in Florida, Puerto Rico

Groups seek bank charters in Florida, Puerto Rico

Organizing groups are pursuing bank charters in Florida and Puerto Rico. A group applied to the Federal Deposit Insurance Corp. on May 27 to form Dorado Bank in San Juan, P.R. A separate group submitted an application to the FDIC on June 2 to open Glades Bank and Trust in Plantation, Fla. The applications were not immediately available.

June 4, 2026
First National of Nebraska to buy Blue Ridge Bancshares in Missouri

First National of Nebraska to buy Blue Ridge Bancshares in Missouri

First National of Nebraska in Omaha has agreed to buy Blue Ridge Bancshares in Independence, Mo. The $35 billion-asset parent of FNBO said in a press release that it expects to buy the holding company for the $850 million-asset Blue Ridge Bank and Trust by the end of this year. The price wasn't disclosed. “FNBO has been intentional about our growth in this region, and Blue Ridge Bank fits that

June 2, 2026
FD Bancorp in Washington completes last phase of CEO succession

FD Bancorp in Washington completes last phase of CEO succession

FS Bancorp in Mountlake Terrace, Wash., has a new CEO. The company said in a press release that Matthew Mullet had succeeded Joe Adams, who retired. Mullet will remain the company's president, as well as president and CEO of the bank. Adams will remain on the board.

June 2, 2026