AvidXchange Holdings in Charlotte, N.C., which provides accounts payable automation software and payment solutions for middle-market businesses, is being acquired. The company said in a press release that it agreed to sell to TPG and Corpay for $2.2 billion in cash. TPG will buy a majority interest through TPG Capital, while Corpay will have a minority stake. The deal is expected to close in the fourth quarter. “We are pleased

OceanFirst Financial in Toms River, N.J., is absorbing upfront expenses in anticipation of long-term gains from a premier banking push. The $13.3 billion-asset company said the concierge-heavy model is designed to attract low-cost deposits and complement its commercial and industrial lending operations—particularly in the New York metro market. As part of this initiative, OceanFirst onboarded nine premier banking teams in April, bringing in nearly 40 experienced bankers with proven track

Avidia Bank in Hudson, Mass., is planning to convert from a mutual to a stock holding company. The $2.7 billion-asset bank said in a regulatory filing that Avidia Bancorp, a newly formed holding company, plans to sell 12.3 million to 16.7 million shares of common stock. The offering could go up to 19.2 million shares if there is enough demand. Net proceeds could range from $118.3 million to $186 million.

Heritage Financial in Olympia, Wash., has a new leader. The company said in a press release that Bryan McDonald had become its CEO and joined its board. McDonald, who remains president, succeeded Jeffrey Deuel, who retired. Deuel will remain a part-time employee as an adviser until March 31, 2027. “I want to thank the Heritage team for their valuable partnership these past 15 years, and I look forward to seeing

Gulf Capital Bank in Houston has formed a small business lending group. The $539 million-asset bank said in a press release that it created the group after hiring Saman Noorani and Sebastian Aguirre. Noorani, who was SBA regional director at Southwestern National Bank, was named director of SBA lending. Aguirre, previously an SBA underwriter at Southwestern, has the same role at Gulf Capital. "Saman will further complement our established focus

Central Plains Bancshares in Grand Island, Neb., will soon have a new CEO. The company disclosed in a regulatory filing that Danny Garness will also become its president on May 20. Garness, who was chief lending officer at Field & Main Bank in Henderson, Ky., will succeed Steven Kunzman, who is retiring but will remain chairman.

Upstart Holdings in San Mateo, Calif., entered into a one-year strategic partnership with OnePay to focus on marketing consumer lending products to Walmart customers. Upstart disclosed in a regulatory filing that its agreement with OnePay, which is majority-owned by Walmart, will include co-branded direct mail campaigns and other collaborative offerings. Upstart said it does not expect the deal to have a material impact on its financial condition or 2025 results.

The Independent Community Bankers of America announced the participants in its ninth ICBA ThinkTECH Accelerator program, with artificial intelligence serving as a major focus. The program is set to run from May 19 to July 25 and will include: Beta Financial Services, which offers an AI-powered credit scoring platform Clockout, a white-labeled Earned Wage Access (EWA) infrastructure provider. DeepSee, which offers a flexible AI operating system that streamlines operations. Overwatch