Strategic Insights into Banking & Fintech
GreenState Credit Union in North Liberty, Iowa, has been blocked from buying a bank. The Nebraska Department of Banking and Finance officially denied an application by the $8 billion-asset credit union to acquire the $395 million-asset Premier Bank in Omaha, Neb. The regulator said the bank failed to provide supporting evidence backing the deal’s legality. “Premier has not carried its burden of proof in this proceeding to show that there is express
Organizers of a proposed de novo in Bloomington, Minn., have selected a new name for the bank. The group has changed the name of the planned institution from Brava Bank to EntreBank, according to an application with the Federal Reserve. The bank, as previously reported, would operate as a subsidiary of Entrepreneurs Bancshares. The principal shareholder of the company would be the Entrepreneurs Bancshares Revocable Trust of Daniel A. Boeckermann,
ACNB Corp. in Gettysburg, Pa., has changed the name of its insurance unit. The $2.8 billion-asset said in a press release Thursday that Russell Insurance Group had been rebranded as ACNB Insurance Services. ACNB bought Russell in 2005. The agency offers property, casualty, health, life and disability insurance to personal and commercial clients."The insurance agency subsidiary has grown through acquisitions to serve clients with additional office locations in” Maryland and Pennsylvania,
The Colorado Bankers Association tapped an insider as its next CEO. The association said in a press release that Jenifer Waller took over the posts on Jan. 1 as part of a two-year transition process. Waller, who has been with the association since 1999, will remain its president. Waller “has been a key part of the association’s success, and we are pleased to conclude this final step in our executive transition plan,”
KS Bancorp in Smithfield, N.C., has a new bank CEO.The $559 million-asset company said in a press release Tuesday that Earl Worley Jr. had also become KS Bank’s president. He succeeded Harold Keen, who will remain president and CEO of the company and is executive chairman of the bank. Worley was the bank’s chief operating officer. He served as the bank’s chief financial officer from 1999 until 2010. Dit Breault, KS Bank’s
Central Pacific Financial in Honolulu plans to implement a Banking-as-a-Service (BaaS) strategy. The $7.3 billion-asset Central Pacific said in a press release Monday that Kevin Dahlstrom had resigned as its chief strategy officer to lead a fintech initiative being formed in partnership with the company tied to the BaaS effort. The company plans to disclose more details when it reports fourth-quarter earnings. “We’d like to thank Kevin for his leadership in our
The CEO of 1895 Bancorp of Wisconsin in Greenfield will soon become a part-time employee. The $541 million-asset company disclosed in a regulatory filing Wednesday that Richard Hurd, who is also CEO of unit Pyramax Bank, will “reduce his day-to-day operational involvement in the operation of the bank” on Jan. 8. Hurd will remain CEO of the company and the bank “to continue to provide strategic leadership and direction,” the filing added. The
Washington Federal in Seattle plans to switch the charter for its bank from a national association to a state-chartered bank. The $19.7 billion-asset company disclosed in a regulatory filing Monday that it filed an application on Dec. 31 with the Washington State Department of Financial Institutions. If approved, the Federal Deposit Insurance Corp. would replace the Office of the Comptroller of the Currency as the bank’s primary federal regulator. The bank would
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