Customers Bancorp in West Reading, Pa., has given formal notice to end its deposit servicing agreement with BM Technologies. The agreement, which has been in place since January 2021, is set to end on Dec. 31. The $19.6 billion-asset Customers announced in January that it planned to end the relationship, noting that the move should save it $60 million a year. The company said at the time that it expected about $1.8

BOK Financial in Tulsa, Okla., is looking for a new leader for its Texas operations. The $46.8 billion-asset company said in a regulatory filing Friday that Norm Bagwell will step down as CEO of Bank of Texas on Dec. 31.  Bagwell “will support the organization’s talent and business development activities on a part-time basis” after he relinquishes his title. BOK Financial said it plans to appoint a new CEO for the Texas

BMO Harris Bank in Chicago is reducing its overdraft and nonsufficient funds (NSF) fees for consumer and small business banking accounts. The $167 billion-asset unit of Bank of Montreal said in a press release Thursday that it will eliminate overdraft transfer fees on July 12 and do away with NSF fees on Aug. 23. Overdraft fees will be lowered from $36 to $15 per occurrence beginning in the fall. "Our latest fee

Dorothy Savarese, who recently retired as president and CEO of Cape Cod Five Cents Savings Bank in Hyannis, Mass., has joined the board of trustees at Suffolk University in Boston.Savarese, who remains the $4.6 billion-asset bank's chairman, was its CEO for more than 17 years. She was succeeded as CEO by Matt Burke and as president by Bert Talerman.Savarese earned her MBA from Suffolk’s Sawyer Business School. The other new trustees

The Independent Community Bankers of America has reiterated its opposition to a U.S. Central Bank Digital Currency (CBDC).The trade association said in a comment letter to the Commerce Department that it wants the government to step up oversight of digital assets, including cryptocurrency. The ICBA made several arguments in the letter:Digital assets present numerous significant threats, including financial crimes and risks for financial stability.Stablecoins exist in an unregulated space with several

New Peoples Bankshares in Honaker, Va., disclosed that its recent systems issues resulted from a cyberattack.The $813 million-asset bank disclosed on its website that it first experienced aninterruption to the operability of its computer systems on June 15. An investigation by a third-party cybersecurity firm found that an unauthorized person gained access to those systems on June 9. The investigation also determined that “some personal information” of customers, shareholders and employees

Western Alliance Bancorp. in Phoenix has entered Utah after hiring a team of business bankers. The $60 billion-asset company said in a press release Wednesday that the bankers will be based in Salt Lake City. The bankers have expertise in real estate, construction and equipment loans, SBA financing, lines of credit and working capital. Seth Brinkerhoff will serve as senior director of commercial banking. He previously served as a senior vice president

NorthEast Community Bancorp in White Plains, N.Y., has brought back a familiar face to its board. The $1.3 billion-asset company disclosed in a regulatory filing Wednesday that Linda Swan had become a director on June 23. She also joined the board of unit NorthEast Community Bank. Swan was a director of NorthEast Community Bancorp, a predecessor to the company, from 1991 to 2014. Swan once was the director of the corporate activities