Rising interest rates led Seacoast Banking Corp. of Florida in Stuart to reduce its offer for Drummond Banking Co. in Chiefland, Fla., by more than 10%. The $10.9 billion-asset Seacoast agreed in early May to buy the $985 million-asset Drummond for $173.2 million in stock.  Seacoast proposed paying $194.4 million in cash and stock when it sent its first pitch to Drummond on March 12, according to a regulatory filing tied

Pinnacle Bancorp in Lincoln, Neb., has agreed to buy Crockett National Bank in San Antonio, Texas. The $7.6 billion-asset Pinnacle said that its purchase of the $630 million-asset Crockett National should close in the second half of this year. The price wasn’t disclosed. Crockett National has five branches and two loan-production offices. Todd Huckabee, Crockett National’s CEO, will become a regional president at Pinnacle.

First Bank of Highland Park in Illinois has changed its name to First Bank Chicago.The $1.9 billion-asset bank said the change reflects a brand that it has been using with its commercial clients. The new brand “allows us to reach more clients and continue our growth throughout the Chicago metro area,” Eric Ephraim, the bank’s president and chief operating officer, said in a press release. First Bank Chicago has been expanding beyond

Customers Bancorp in West Reading, Pa., has given formal notice to end its deposit servicing agreement with BM Technologies. The agreement, which has been in place since January 2021, is set to end on Dec. 31. The $19.6 billion-asset Customers announced in January that it planned to end the relationship, noting that the move should save it $60 million a year. The company said at the time that it expected about $1.8

BOK Financial in Tulsa, Okla., is looking for a new leader for its Texas operations. The $46.8 billion-asset company said in a regulatory filing Friday that Norm Bagwell will step down as CEO of Bank of Texas on Dec. 31.  Bagwell “will support the organization’s talent and business development activities on a part-time basis” after he relinquishes his title. BOK Financial said it plans to appoint a new CEO for the Texas

BMO Harris Bank in Chicago is reducing its overdraft and nonsufficient funds (NSF) fees for consumer and small business banking accounts. The $167 billion-asset unit of Bank of Montreal said in a press release Thursday that it will eliminate overdraft transfer fees on July 12 and do away with NSF fees on Aug. 23. Overdraft fees will be lowered from $36 to $15 per occurrence beginning in the fall. "Our latest fee

Dorothy Savarese, who recently retired as president and CEO of Cape Cod Five Cents Savings Bank in Hyannis, Mass., has joined the board of trustees at Suffolk University in Boston.Savarese, who remains the $4.6 billion-asset bank's chairman, was its CEO for more than 17 years. She was succeeded as CEO by Matt Burke and as president by Bert Talerman.Savarese earned her MBA from Suffolk’s Sawyer Business School. The other new trustees

The Independent Community Bankers of America has reiterated its opposition to a U.S. Central Bank Digital Currency (CBDC).The trade association said in a comment letter to the Commerce Department that it wants the government to step up oversight of digital assets, including cryptocurrency. The ICBA made several arguments in the letter:Digital assets present numerous significant threats, including financial crimes and risks for financial stability.Stablecoins exist in an unregulated space with several