MVB Financial in Fairmont, W.Va., plans to buy a minority stake in a mortgage company. The $2.8 billion-asset company said in a press release Monday that it will acquire a 38% interest in Warp Speed Holdings for $48 million in cash and stock. The deal is expected to close in mid-2022. Warp is the parent for a group of companies that includes CalCon Mutual Mortgage, One Trust International and Warp Speed Mortgage.

Amerant Bancorp in Coral Gables, Fla., is consolidating the roles of chairman and CEO. The $7.6 billion-asset Amerant said in a press release that Jerry Plush, its president and CEO, will succeed Frederick Copeland Jr. as chairman when Copeland retires after the company’s June 8 annual meeting. Amerant said that J. Guillermo Villar will also retire following the meeting. The company will add four new directors – Orlando Ashford, Samantha Holroyd, John

First Republic Bank in San Francisco has a new permanent CEO. The $173 billion-asset bank said in a press release Monday that Mike Roffler, who had been its interim co-CEO since January, has the role for good. He will remain the bank’s president. Jim Herbert, who founded the bank in 1985 and is set to return from medical leave next month, is now executive chairman.  Roffler “fully embodies our culture, has a

An investor group looking to oust Republic First Bancorp CEO Vernon Hill has offered to buy a majority stake in the Philadelphia company.The group, which includes George Norcross III and Gregory Braca, said in a regulatory filing that they sent a nonbinding proposal to Republic First’s investment bank. The offer includes an initial direct investment of $50 million that would involve the group buying newly issued nonvoting preferred stock followed by a

VyStar Credit Union in Jacksonville, Fla., and Heritage Southeast Bank in Jonesboro, Ga., have agreed to extend the deadline for their merger for a second time. The $11 billion-asset VyStar and the $1.6 billion-asset Heritage Southeast have pushed the deadline for their deal to March 31. The financial institutions announced in October that the deadline had moved from Dec. 31 to Feb. 28. The deal was announced in March 2021. If completed, it

Horizon Bancorp in Lake Havasu City, Ariz., has agreed to sell its bank to Arizona Federal Credit Union in Phoenix.The $2.8 billion-asset Arizona Federal plans to buy the $540 million-asset Horizon Community Bank for $91.4 million in cash. Arizona Federal also agreed to cover a portion of Horizon Community’s expected federal income tax liability tied to the sale of its assets in the transaction. The acquisition is expected to close by

Major League Soccer will borrow $25 million from a group of Black-owned banks. The league said in a press release Thursday that the lending group includes Carver Bancorp in New York and Citizens Trust Bank in Atlanta. The loan was facilitated by the National Black Bank Foundation (NBBF), a nonprofit. "Major League Soccer’s partnership with the National Black Bank Foundation is a tangible step in the efforts to close the racial economic

BOK Financial in Tulsa, Okla., has recorded $50 million of pretax losses to reduce the carrying value of certain trading securities. The $50.2 billion-asset company said in a regulatory filing Wednesday that the losses have been recorded since March 4. Most of the recorded losses are unrealized; they could fluctuate over the rest of the first quarter. BOK Financial pointed to recent events, including expected action by the Federal Reserve to combat