Central Pacific Financial in Honolulu said its first Banking-as-a-Service client is on pace to launch its first product this summer. The $7.3 billion-asset company said in a press release Wednesday that Swell Financial should debut its integrated checking and line-of-credit account in a matter of months. The fintech is working with Central Pacific and Elevate Credit. Central Pacific and Elevate also participated in a $10 million Series A capital raise for Swell. Central Pacific

Triumph Bancorp in Dallas tapped a new president for its bank as part of a broader management restructuring. The $6 billion-asset company said in a press release Tuesday that Todd Ritterbusch had been named president of TBK Bank. Ritterbusch previously oversaw the bank’s retail and treasury management teams. Ed Schreyer was named chief operating officer of Triumph Bancorp and TBK Bank. Gail Lehmann was tapped to serve as chief regulatory and

Another state has intervened to impede a credit union’s pending purchase of a bank. The Minnesota Department of Commerce has rejected the sale of Lake Area Bank in Lindstrom, Minn., to Royal Credit Union in Eau Claire, Wis. The agency determined that, in Minnesota, “a state-chartered bank is not authorized to transfer its assets and liabilities to a credit union for the purpose of consolidating or merging out of existence,” according to

Pathfinder Bancorp in Oswego, N.Y., has made an abrupt change in leadership. The $1.3 billion-asset company said in a press release Tuesday that James Dowd had been named interim president and CEO, succeeding Thomas Schneider, who resigned effectively immediately. Schneider, who also stepped down from the board, was named the company’s director of capital markets and corporate strategy. Pathfinder said Schneider wanted “a less time-consuming role due to recent health issues

MainStreet Bankshares in Fairfax, Va., is in the process of bringing on its first Banking-as-a-Service customer. The $1.8 billion-asset company said in a press release that Avenu, its BaaS division, plans to go live with the initial beta customer in the fourth quarter. “Our focus is to help fintechs manage risk and meet compliance obligations as they accept and facilitate payments, and there is no cutting corners on this important work,”

Pinnacle Financial Partners in Nashville, Tenn., has fully acquired an commercial equipment leasing company.The $39.4 billion-asset company said in a press release Tuesday that it bought the remaining equity of JB&B Capital in early March. Pinnacle paid an undisclosed cash amount for the 80% stake it did not previously own.Pinnacle bought an initial 20% stake in the Knoxville, Tenn., company in 2017.JB&B contributed 4 cents a share to Pinnacle’s first

National Bank Holdings in Denver has agreed to buy Community Bancorp. in Provo, Utah.The $7.3 billion-asset National Bank said in a press release Monday that it will pay $136 million of cash and stock for the $814 million-asset parent of Rock Canyon Bank. The deal, which is expected to close in the second half of this year, priced Rock Canyon at 180% of its tangible book value. National Bank would have

Piermont Bank in New York has created a two-year program to train employees to become commercial real estate or fintech lending analysts. The $364 million-asset bank, which opened in 2019, said in its announcement that it will sponsor formal credit training at an accredited institution. The program will include on-the-job training in reviewing and monitoring financial information, along with financial modeling and analysis. Piermont’s chief credit officer will train and mentor program