Old National Bancorp in Evansville, Ind., has received approval from the Federal Reserve to buy First Midwest Bancorp in Chicago. The Fed announced its approval of the $2.5 billion acquisition on Thursday. The $24.5 billion-asset Old National agreed in June to buy the $21.8 billion-asset First Midwest. The deal is expected to close by early this year. The merger has met some resistance. Several consumer advocacy groups asked regulators in July to conduct public

MVB Financial in Fairmont, W.Va., has a new president. The $2.8 billion-asset company said in a press release Thursday that Donald Robinson had transitioned into the role. He will remain MVB’s chief financial officer as the company conducts a national search for a replacement. Robinson succeeded Larry Mazza, who will remain CEO. “To fully execute our strategic plan and to move MVB forward on the financial frontier, we need to ensure that we

HarborOne Bancorp in Brockton, Mass., has lined up its next CEO. The $4.5 billion-asset company said in a press release Thursday that James Blake will retire, effective May 18. Joseph Casey, the company’s president and chief operating officer, will succeed Casey. Blake and Casey will remain on the company’s board. Blake joined HarborOne Bank – then known as Brockton Credit Union – in 1993. He has been the CEO since 1995, overseeing the

Central Pacific Financial in Honolulu provided more information on its new Banking-as-a-Service platform, which it plans to lean on for mainland expansion. The $7.4 billion-asset company said in a press release Wednesday that it will make an equity investment in Swell, a new fintech that will work with credit-constrained consumers. Central Pacific will also serve as the bank sponsor for Swell, which is scheduled to launch its first product later this

Midland States Bancorp in Effingham, Ill., has agreed to buy deposits and loans from FNBC Bank & Trust in La Grange, Ill. The $7.1 billion-asset company said in press release Wednesday that it will buy $86 million of deposits and $26 million of loans tied to branches in Mokena and Yorkville, Ill. Midland States will also buy the Mokena branch. The transaction is expected to close in the second quarter. The deposits being

Another bank merger is facing a delay tied to pending regulatory approval. Executives at Community Bank System in DeWitt, N.Y., said during a conference call to discuss quarterly earnings that they expect the acquisition of Elmira Savings Bank to close in May. The companies originally forecast a first-quarter completion. The revised guidance resulting from “the progress and the dialogue with regulators," Mark Tryniski, Community Bank System’s president and CEO, said during the

Customers Bancorp in West Reading, Pa., will let its deposit servicing agreement with BM Technologies lapse at the end of this year. The $19.6 billion-asset company said in a press release Monday that the agreement, tied to its January 2021 divestiture of BankMobile Technologies, will save it about $60 million a year.Customers expects about $1.8 billion of deposits serviced by BM Technologies to run off by Dec. 31. The company

Zions Bancorp. in Salt Lake City is close to opening a new corporate technology center. The $93 billion-asset company said in a press release Monday that it should occupy the building in mid-2022. The move allowed Zions to consolidate and sell a number of bank-owned facilities. The sales were largely responsible for $12 million in “other income” recording during the fourth quarter. Zions announced plans in May 2020 for the 400,000-square-foot facility