A group of legislators led by Sen. Elizabeth Warren, D-Mass., wants the Office of the Comptroller of the Currency to reject TD Bank Group’s planned purchase of First Horizon in Memphis, Tenn. The lawmakers, which include Reps. Katie Porter, D-Calif., Al Green, D-Texas, and Jesus Garcia, D-Ill., are citing a May 4 report that claimed the Canadian bank had similar incentives to those tied to the fake-accounts scandal at Wells Fargo. “As

M&T Bank in Buffalo, N.Y., announced that its president will retire. The $149.9 billion-asset company said in a press release Thursday that Rich Gold will also step down as chief operating officer, effective after the first quarter of 2023. He will remain on the board. “It’s difficult to overstate Rich’s impact on our company, said René Jones, M&T’s chairman and CEO, said in the release.  “It has been his life’s work

VyStar Credit Union in Jacksonville, Fla., and Heritage Southeast Bancorp. have terminated VyStar’s planned acquisition of Heritage Southeast Bank in Jonesboro, Ga., after failing to secure regulatory approval. The $12 billion-asset VyStar and the $1.7 billion-asset Heritage Southeast were nearing a June 30 closing deadline. The parties had repeatedly extended the deadline. “After much contemplation and discussion, the [boards] of both institutions concluded the best path forward would be to discontinue the

Farmers & Merchants Bancorp in Archbold, Ohio, has agreed to buy Peoples-Sidney Financial in Sidney, Ohio. The $2.6 billion-asset F&M said in a press release Tuesday that it will pay $27 million in cash and stock for the $133 million-asset parent of Peoples Federal Savings and Loan Association. The deal, which is expected to close in the third or fourth quarter, priced Peoples-Sidney at 175% of its tangible book value.Peoples has

Codorus Valley Bancorp in York, Pa., has added a veteran banker to its board. The $2.3 billion-asset company said in a press release Tuesday that Scott Fainor had also joined its risk management committee.  Fainor was president and CEO of National Penn Bancshares when it was sold to BB&T in April 2016. He was a group executive at BB&T about until 2019; he is now chairman of Fainor Holdings. The company also

Buckeye State Bank in Powell, Ohio, has agreed to buy First City Bank in Columbus, Ohio.The $263 million-asset Buckeye said in a press release that it expects to buy the $73 million-asset First City in the fourth quarter. It did not disclose the price it will pay. First City has one branch and $64 million of deposits. Buckeye was acquired by a group of local investors led by CEO Shawn Keller

CrossFirst Bankshares in Leawood, Kan., will enter Colorado and New Mexico as part of an agreement to buy Farmers & Stockmens Bank in Clayton, N.M.The $5.6 billion-asset CrossFirst said in a press release Tuesday that it will pay $75 million in cash to Central Bancorp for the $567 million-asset F&S Bank. The deal, which is expected to close in the second half of this year, priced F&S Bank at 163%

Coinbase Global in Wilmington, Del., will cut nearly a fifth of its employees. The crypto exchange said in a Tuesday regulatory filing that it will lay off about 1,100 employees by the end of this month.  The cuts are part of a restructuring plan to manage operating expenses “in response to current market conditions and ongoing business prioritization efforts,” the filing said. Coinbase said it expects to incur $40 million to