Middlefield Banc Corp. in Middlefield, Ohio, has agreed to buy Liberty Bancshares in Ada, Ohio. The $1.3 billion-asset Middlefield said in a press release Thursday that it will pay $64.4 million in stock for the $437 million-asset Liberty. The deal, which is expected to close in the fourth quarter, priced Liberty at 115% of its tangible book value. Liberty has six branches, $297 million of loans and $379 million of deposits. Liberty “complements

M&T Bank in Buffalo, N.Y., has created a $25 million philanthropic fund tied to its recent acquisition of People's United Financial in Bridgeport, Conn. The $63 billion-asset M&T, which completed the purchase in April, said in a press release that the Amplify Fund will support People's United communities in New England and New York. Amplify is a one-time supplemental charitable program that will be deployed over three years to benefit low- and moderate-income

Collins Community Credit Union in Cedar Rapids, Iowa, has acquired the digital insurance business of Coverage Direct in Des Moines, Iowa. The $1.5 billion-asset credit union said in a press release that it folded the business into its family of Credit Union Service Organizations (CUSOs). The price was not disclosed. Coverage Direct, founded in 2016, is led by Zach Mefferd and Ryan Swalve. "We … pride ourselves with being able to offer cutting-edge

The Federal Deposit Insurance Corp. has eliminated a short-lived appeals process that had the backing of bankers. The Office of Supervisory Appeals, formed before President Biden took office, had become fully staffed on Dec. 6. The standalone office was intended to act as an internal court where banks could appeal supervisory findings by examiners. The agency’s board recently disbanded the office and restored the preexisting Supervision Appeals Review Committee. The board also

IC Federal Credit Union in Fitchburg, Mass., has hired a veteran banker as its chief operating officer.CarrieAnne Cormier announced on her LinkedIn account that she is joining the $574 million-asset credit union. Cormier had spent the previous 17 years at Avidia Bank in Hudson, Mass. She had been the $2.4 billion-asset bank's senior vice president of retail operations and strategy since 2014, where she oversaw a 10-branch network."It's an honor to

Esther George is set to retire as president and CEO of the Federal Reserve Bank of Kansas City.The Kansas City Fed announced that George will retire in January. George, who has been in the post for 11 years, is set to reach the central bank’s mandatory retirement age of 65.Egon Zehnder, an executive recruitment firm, was hired to asset the Kansas City Fed in its search for a successor. A

Denver Community Credit Union in Colorado has rebranded as Zing Credit Union.The $457 million-asset credit union said in a press release that it had considered rebranding since 2017 when it began to include more communities and members beyond Denver. “Interviews and focus groups guided the decision,” the credit union, which was formed in 1934, said in the release. “This is a decision that was not taken lightly and was evaluated

Heartland BanCorp in Whitehall, Ohio, has added the state’s lieutenant governor to its board. The company said in a press release that Jon Husted became a director on May 17. He joined the $1.4 billion-asset bank’s board in March. Husted “brings an enormous amount of knowledge, relationships and experience that will be beneficial to the board as we continue to grow our franchise throughout Ohio,” Scott McComb, Heartland’s chairman, president and CEO,