Strategic Insights into Banking & Fintech

Primis in Va. to partner with periodontist group

Primis in Va. to partner with periodontist group

Primis Financial in McLean, Va., has formed a partnership to provide financial services to members of the American Academy of Periodontology. The $3.2 billion-asset Primis said in a press release that Panacea Financial, a division formed to serve physicians, dentists and veterinarians, will have access to the AAP's more than 7,500 members.Periodontists specialize in the prevention, diagnosis and treatment of inflammatory diseases that affect the gums and supporting structures of the

August 31, 2022
BaaS association taps Ohio banker as first chairman

BaaS association taps Ohio banker as first chairman

The BHB BaaS Association has its first chairman.The Austin, Texas, group formed by Bankers Helping Bankers earlier this year to focus on Banking-as-a-Service providers, said in a press release Wednesday that Robert Keil had accepted the role. Keil, chief payments officer at Sutton Bank, leads the Attica, Ohio, bank’s BaaS efforts. He previously worked at Fiserv, where he focused on fintechs and emerging payments.“Community banking is experiencing a number of challenges,”

August 31, 2022
Associated to close 13 branches in Illinois, Wisconsin

Associated to close 13 branches in Illinois, Wisconsin

Associated Banc-Corp. in Green Bay, Wis., plans to close 13 branches in two states. The $37.2 billion-asset company plans to shutter six locations in Illinois and seven in northwest Wisconsin on Nov. 18, several media publications reported. Six of the offices are in-store branches, with five in Festival Foods stores and one inside a Piggly Wiggly.The branches represent about 6% of the company’s overall network, based on June 2021 data from the

August 31, 2022
Equity in Kansas to sell Oklahoma branch to High Plains

Equity in Kansas to sell Oklahoma branch to High Plains

High Plains Bank in Okeene, Okla., has agreed to buy a branch in Oklahoma from Equity Bancshares in Wichita, Kan. The $5 billion-asset Equity said in a press release that it is selling its location in Cordell to the $160 million-asset High Plains. The sale is expected to close by Dec. 31. The price wasn’t disclosed. The branch has about $20 million of deposits. “Our focus as a community bank is our customers, and

August 31, 2022
Mortgage lender gets reg approval to buy Texas bank

Mortgage lender gets reg approval to buy Texas bank

Cornerstone Home Lending has received regulatory approval to buy Roscoe State Bank in Roscoe, Texas.The mortgage lender said in a Wednesday press release that it expects to buy the $226 million-asset Roscoe on or around Oct. 1. Cornerstone Capital Bank will have more than $380 million of capital and roughly $1.5 billion of assets. The bank will have three business segments: mortgage lending and servicing, commercial and retail banking and institutional

August 31, 2022
First Commonwealth to buy Centric Financial in Pa.

First Commonwealth to buy Centric Financial in Pa.

First Commonwealth Financial in Indiana, Pa., has agreed to buy Centric Financial in Harrisburg, Pa.The $9.6 billion-asset First Commonwealth said in a press release Tuesday that it will pay $144 million in stock for the $1.1 billion-asset Centric. The deal, which is expected to close in the first quarter, priced Centric at 131% of its tangible book value. Centric has seven branches, a loan production office, $900 million of deposits and

August 31, 2022
First National Bank of Omaha debuts API-focused product

First National Bank of Omaha debuts API-focused product

First National Bank of Omaha in Nebraska has formed a business to offer credit card services to fintechs and other startups. The $27.2 billion-asset bank said in a press release that Bend by FNBO will offer customized credit card issuance to clients. The business is being marketed as a credit card-as-a-service (CaaS) platform. Bend offers an embedded model of open API services for credit cards through a network of strategic partnerships. The

August 30, 2022
Genesis Bank in Calif. forms 1031 exchange division

Genesis Bank in Calif. forms 1031 exchange division

Genesis Bank in Newport Beach, Calif., has created a division to handle 1031 exchanges. The $95.1 million-asset company said in a press release that it had launched Genesis Bank Exchange to facilitate Section 1031 exchanges of investment and business real estate. The division will hold client funds in segregated trust accounts and handle administrative, legal and tax-related compliance obligations for clients. “We have developed deep relationships … with a broad range of real

August 30, 2022