Organizers of the proposed Private Bank & Trust in Gainesville, Ga., have received conditional approval from the Federal Deposit Insurance Corp. The group must raise $19 million of capital before the bank can open. Organizers said in the application to form the bank that they were targeting at least $27 million in initial capital. Private Bank is being positioned as a high-touch, relationship-driven institution focused on small businesses, professionals and

Synctera, a banking and payments platform, has acquired Cable, a compliance automation and control-testing company for banks and fintechs. Natasha Vernier, Cable's co-founder and CEO, announced the sale on her company's website. The price wasn't disclosed, "I am incredibly proud of the changes we have kicked off in the banking industry," Vernier wrote. "We’ve built the leading compliance testing platform for banks to test their own controls, and the controls of

The Federal Deposit Insurance Corp. hired an innovative banker as its chief innovation officer. The agency said in a press release that Trey Maust had taken on the role. Maust recently served as executive chairman of Lewis & Clark Bank and as president and CEO of Bankevo. Benjamin Olson was named director of the FDIC’s division of depositor and consumer protection, while Shawn Khani was named director of the agency's

Points West Community Bank in Windsor, Colo., has agreed to buy State Bank of Downs in Downs, Kan. The $833.8 million-asset Points West applied with the Federal Deposit Insurance Corp. on April 13 to buy the $140.3 million-asset State Bank. The price wasn't disclosed. "We want you to know that the things that matter most aren’t changing. The people you know, the service you trust, and your day-to-day banking will

Nir Zuk, founder of Palo Alto Networks, has applied with the Federal Reserve to buy a majority stake in Liberty Bank in Irvine, Calif. Zuk would become the $442 million-asset bank's largest shareholder if the purchase is approved, according to published reports. The plan is to buy shares held by private equity firms Stone Point Capital and Reverence Capital Partners. Pricing hasn't been disclosed. Betsy and Daniel Cohen are expected

Coastal Bend Bancshares in Corpus Christi, Texas, has agreed to buy First National Bank in Port Lavaca, Texas. The parent of the $661.7 million-asset First Community Bank said in a press release that it expects to buy the $381.3 million-asset First National in the second quarter. The price wasn't disclosed. First National has four branches. The acquisition "brings together two like-minded community banks that share the same values: local decision-making

BayCom in Walnut Creek, Calif., has shaken up its C-Suite. The company said in a press release that Christopher Baron had become its president and CEO and will join the board. Baron, who recently served as president of commercial and community banking at Banc of California, succeeded George Guarini, who founded the bank. William Black Jr. was named executive vice chairman and will join the board. He was executive vice

The proposed Alba Bank in Houston would aim to be a minority depository institution. Organizers also plan to raise $30 million to $40 million in initial capital, according to their application to the Federal Deposit Insurance Corp. Alba's founding philosophy centers on "local ownership, local management, and local decision-making," the application said, intending to deliver sophisticated financial products paired with highly personalized customer service. The primary target market is small