Valley National Bancorp in New York is planning a digital payment solution that will target cannabis-related businesses. The $41.2 billion-asset company said in a Wednesday press release that Valley Pay will migrate cash usage to a secure, web application. The goal is to ease the burden on cannabis operators that rely on cash transactions. The company plans to launch a pilot program in coming months. The platform “will empower them to be

Arrow Financial in Glens Falls, N.Y., has outlined plans to close three branches at a time when it is also beefing up its online offerings. The $4.1 billion-asset company said in a press release Tuesday that it will close two locations in Fort Edward, N.Y., and one in Wilton, N.Y.  Arrow said it making improvements to its remaining Fort Edward branch. It is also renovating a new location in Wilton that

HV Bancorp in Doylestown, Pa., has a new president. The $549 million-asset company said in a press release Tuesday that Bob Marino, its vice chairman, had also become president of unit Huntingdon Valley Bank. Marino joined HV Bancorp’s board nearly four years ago. Marino recently served as a founder, director and Mid-Atlantic division president of Spring Garden Lending, a company that provides alternative lending services to investors and developers. Before joining Spring

Heartland Financial USA in Dubuque, Iowa, is evaluating a plan to consolidate its 11 bank charters. Bruce Lee, the $11.9 billion-asset company’s president and CEO, said in a press release Monday that the analysis is part of a broader effort “to explore ways to improve operational efficiency.” Heartland said its initial analysis suggests that collapsing the charters would lead to revenue synergies and expense reductions of 3% to 5% of its existing

Equity Bancshares in Wichita, Kan., has agreed to sell branches in three northern Kansas markets to UBT Bancshares in Marysville, Kan. The $4.3 billion-asset Equity said in a press release Monday that it will sell three branches, located in Concordia, Belleville and Clyde, to the parent of the $738 million-asset United Bank and Trust. The sale, which includes $60 million of deposits and $24 million of loans, is expected to close

GreenState Credit Union in North Liberty, Iowa, has agreed to buy Midwest Community Bank in Freeport, Ill.The $8.5 billion-asset GreenState will buy assets and assume liabilities of the $368 million-asset Midwest Community, according to an announcement by Hovde Group. Hovde advised Freeport Bancshares, which is selling Midwest Community. The deal is expected to close in the second quarter. Midwest Community has three branches, seven loan production offices, $308 million of loans and

Esquire Financial Holdings in Jericho, N.Y., plans to sell its portfolio of loans tied to the National Football League’s concussion settlement program.The $1.1 billion-asset company said in a press release Monday that it moved the $23.6 million portfolio to held-for-sale status during the third quarter as part of a plan to sell the loans to an unnamed fund. The loans had a fair value of $14.2 million on Sept. 30,

MainStreet Bancshares in Fairfax, Va., has created a division dedicated to serve fintechs. The $1.7 billion-asset company said in a press release Monday that Avenu will expand on its Banking-as-a-Service (Baas) platform by offering fintechs a streamlined way to accept deposits and facilitate payments while managing risk and meeting compliance obligations. “We have come to know many fintech innovators and understand their unique needs,” Jeff Dick, MainStreet’s chairman and CEO, said