Primis Financial in McLean, Va., has agreed to sell its minority stake in Southern Trust Mortgage. The $3.4 billion-asset Primis said in a press release Thursday that it expects to record a pretax charge of $2.9 million in the third quarter tied to the sale. Primis also said it will not longer accrue earnings tied to the bank’s common membership interest in the mortgage lender. Southern Trust will buy the stake

HarborOne Bancorp in Brockton, Mass., has agreed to buy four branches in Massachusetts from Independent Bank in Rockland, Mass. The $4.6 billion-asset HarborOne said in a press release Thursday that it will buy the leases to branches that had belonged to East Boston Savings Bank, which Independent is set to buy later this year. HarborOne opened its first Boston-area office in 2018. It now has more than $370 million of loans and

Valley National Bancorp in New York has agreed to buy Bank Leumi USA in New York. The $41 billion-asset Valley said in a press release Thursday that it will pay Bank Leumi Le-Israel B.M. about $1.2 billion in cash and stock for the $8.4 billion-asset Bank Leumi. The deal, which is expected to close in the first quarter or early in the second quarter, priced Bank Leumi at 130% of its tangible book

Waterfall Bank, a de novo proposed for Clearwater, Fla., has secured conditional approval from the Federal Deposit Insurance Corp.Organizers still need to raise $45 million before opening the bank, according to the FDIC’s Sept. 8 order. The group behind Waterfall Bank applied with the FDIC in December. The bank would be based in the Waterfall Building, which is operated by Waterfall Capital Investments. The company “directs the deployment of capital for

Amalgamated Financial in New York will enter Chicago with an agreement to buy Amalgamated Bank.The $6.6 billion-asset Amalgamated Financial said in a press release Wednesday that it will pay $98.1 million in cash, including an earnout of up to $1.1 million, for the $950 million-asset Amalgamated Bank. The deal is expected to close by the end of this year. The Chicago bank was formed in 1922. It has $836 million of

Veritex Holdings in Dallas has agreed to buy North Avenue Capital in Ponte Vedra, Fla. The $9.3 billion-asset Veritex said in a press release Tuesday that it will pay $57.5 million in cash for the government-guaranteed lender. Three years after the deal closes, North Avenue has the right, subject to adjustment, to receive another $5 million in cash, subject to certain performance measures. The deal is expected to close in

JPMorgan Chase in New York has acquired Frank, a college financial-planning platform. The $3.7 trillion-asset company said in a press release Tuesday that Frank serves more than five million students at more than 6,000 higher education institutions. It did not disclose the price it paid. “We want to build lifelong relationships with our customers,” Jennifer Piepszak, Chase’s co-head of consumer and community banking, said in the release. “Frank offers a unique opportunity for

Natalie Bartholomew has been named chief impact officer at Citizens Bank of Edmond in Oklahoma. Bartholomew recently served as chief administrative officer at Grand Savings Bank in Grove, Okla. She is well-known in banking circles for creating The Girl Banker, a blog that promotes women leaders in the industry. "Over the last 20 years of my banking career, I have found that I’m most passionate about my job when I