The Consumer Financial Protection Bureau terminated a 2018 consent order against Wells Fargo, leaving two enforcement actions against the San Francisco company unresolved, including the Federal Reserve’s asset cap. Six orders against the bank have been resolved this year. The CFPB order was tied to the company's compliance risk management program. The CFPB "termination, along with the recent closure of other consent orders, demonstrates that we have completed much of

Regent Capital in Tulsa, Okla., has agreed to buy DLP Bancshares in Starke, Fla. The $1.8 billion-asset Regent said in a press release that it will pay all stock for the $247 million-asset DLP. The deal is expected to close in the third quarter. The price wasn't disclosed. Three DLP Bank directors will join Regent's board. DLP "brings a tremendous investor base for future growth capital, a strong core deposit

Eagle Financial Services in Berryville, Va., which recently raised capital, reported a quarterly loss after repositioning its securities portfolio. The $1.9 billion-asset company said in a press release that it lost $7 million in the first quarter after selling securities at a $9.8 million after-tax loss. The debt securities had an amortized cost balance of $99.2 million and a fair value of $86.8 million. The company invested $66 million of

Midland States Bancorp in Effingham, Ill., plans to restate multiple years of financial statements after identifying material errors tied to how it accounted for loans originated through third-party programs. The $7.5 billion-asset company, which said in a regulatory filing that some of the issues date back to 2012, acknowledged material weaknesses in its internal control over financial reporting. It plans to detail a remediation plan in its forthcoming 2024 annual

Cadence Bank in Houston has agreed to buy Industry Bancshares in Industry, Texas, which has been dealing with regulatory issues tied to its securities portfolios. The $50 billion-asset Cadence said in a press release that it will pay between $20 million and $60 million in cash, based on Industry's equity capital at closing. Cadence can also walk away from the deal if Industry's equity capital falls below a certain threshold.

The Consumer Financial Protection Bureau has dropped cases against Reliant Holdings, which operates as Horizon Card, and subprime auto lender Credit Acceptance. The bureau had alleged that Horizon Card marketed a "membership program" that charged users up to $300 a year for a credit card with a $500 limit. While advertised as a general-purpose credit card, it could only be used at the Horizon Outlet, which, the CFPB claimed, offered

Miners and Merchants Bancorp in Grundy, Va., has agreed to buy First Community in Rogersville, Tenn. The $500 million-asset parent of TruPoint Bank said in a press release that it expects to buy the $200 million-asset First Community in the third or fourth quarter. The price wasn't disclosed. First Community "has built a strong reputation by consistently delivering premier service to customers and fostering deep connections in the community," said

Eastern Bankshares in Boston has agreed to buy HarborOne Bancorp in Brockton, Mass. The $25 billion-asset Eastern said in a press release that it will pay $490 million in cash and stock for the $5.7 billion-asset HarborOne. The deal, which is expected to close in the fourth quarter, priced HarborOne at 100% of its tangible book value. HarborOne has 30 branches, $4.8 billion of loans and $4.6 billion of deposits