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

First Republic Bank in San Francisco is looking for a new CEO after one of its leaders abruptly stepped down. The $173 billion-asset bank said in a press release Monday that Hafize Gaye Erkan resigned as co-CEO to pursue other opportunities. Erkan, who joined the bank in 2014 from Goldman Sachs, was named co-CEO in July. That move positioned her to eventually succeed James Herbert, the bank’s founder, chairman and co-CEO. Herbert

Jelena McWilliams will resign as chairman of the Federal Deposit Insurance Corp.McWilliams, who has chaired the agency since June 2018, said in an open letter to President Biden on Friday that she will step down on Feb. 4. “Serving the American people alongside the dedicated career professionals of the FDIC has been the highlight of my professional life,” she said in the letter. “Throughout my tenure, the agency has focused on its

A pair of banks has formed charitable foundations before the end of 2021. Mercantile Bank in Grand Rapids, Mich., said in a press release Thursday that it had created the Mercantile Bank Foundation to fund and administer its charitable giving activities. The bank made a $4 million initial capital contribution that will be recorded as noninterest expense in the fourth quarter. More contributions are expected in future periods, depending on the bank’s

RBB Bancorp in Los Angeles will enter the San Francisco market after it buys Gateway Bank in Oakland. The $3.8 billion-asset RBB said in a press release Tuesday that it will pay $22.9 million in cash for the $172 million-asset Gateway. The deal is expected to close in the second quarter. Gateway has on branch, $123 million of loans and $148 million of deposits. The bank primarily serves Asian-American communities around

An activist investor is pressing the board of Codorus Valley Bancorp to explain several bylaw changes that were not highlighted in a recent announcement about the York, Pa., company’s corporate governance changes. The $2.3 billion-asset Codorus issued a press release on Dec. 20 touting several changes to its board and the decision to adopt majority voting in uncontested director elections. While the company said other changes were made, it did not

Organizers behind Bank of Burlington in Vermont plan to raise $24 million to $30 million of initial capital. The group said in its application with the Federal Deposit Insurance Corp. that the bank would focus largely on small businesses. There are no plans to offer retail loans, and most of the deposits would come from small business owners, professionals and municipalities. “The bank intends to become the leading small business lender in