Pipe, a fintech that offers embedded payments services, has a new leader a month after disclosing a large number of layoffs. The company said that Claurelle Rakipovic had replaced Luke Voiles as CEO. Rakipovic was the company's chief product officer. Voiles had served as CEO since early 2023.

USCB Financial Holdings in Miami is the latest bank to unload underperforming securities. The company said in a press release that it sold $44.6 million in lower-yielding securities, representing 12.6% of its portfolio, at an after-tax loss of $5.6 million. The plan is to reinvest the proceeds in higher-yielding securities. It should take the company more than three years to earn back the upfront loss. “Our strong capital position gives

HoldCo Asset Management, which is pressuring several regional banks, is now urging KeyCorp in Cleveland to oust Chairman and CEO Chris Gorman. The activist investor, which owns about 0.7% of Key's stock, said in a board presentation made publicly available that it also wants the company to adopt a “no acquisitions” policy and direct all excess capital toward share repurchases, among other things. HoldCo indicated it is evaluating other avenues,

Webster Financial in Stamford, Conn., has acquired a provider of employer-sponsored emergency savings accounts. The $80 billion-asset company said in a press release that its HSA Bank division bought SecureSave. The price wasn't disclosed. The acquisition "continues our commitment to deepening our expertise and capabilities in our Healthcare Financial Services segment,” Luis Massiani, Webster Bank's president and chief operating officer, said in the release. “Adding SecureSave to our portfolio reinforces

Another new bank is being planned in Georgia. Seven organizers have applied with the Federal Deposit Insurance Corp. to create Private Bank & Trust in Gainesville. The application wasn't immediately available. The group’s members, based on a legal notice, are Brian Daniel, Greg Barrett, William Bagwell Jr., Ashton Lewis, Brian Rochester, Wendell Starke and Bo Weber. Barrett would serve as president and CEO; Daniel would become chairman.

The former president and CEO of First National Bank of Lindsay faces 18 charges tied to the Oklahoma bank's October 2024 failure. Danny Seibel was indicted for bank fraud, making false entries in the books and records of a financial institution, obstructing an exam, and failing to implement an anti-money laundering program. The Office of the Comptroller of the Currency closed the bank “after identifying false and deceptive bank records

ACNB Corp. in Gettysburg, Pa., repositioned its securities portfolio. The company disclosed in a press release that it sold roughly $74.6 million of lower-yielding securities at an after-tax loss of about $2.8 million. Net proceeds of $71.1 million were used to buy higher-yielding securities, including agency multifamily securities, agency collateralized mortgage obligation securities and agency mortgage-backed securities. The moves should improve the portfolio's interest income by $2.6 million over the

Denali State Bank in Fairbanks, Alaska, is set to have a new leader. Steve Lundgren is retiring as the bank's president and CEO after leading it for the past 13 years. Ryan Strong, who was the chief banking officer at First National Bank of Alaska, succeeded Lundgren.