Third Coast Bancshares in Humble, Texas, has raised $100.6 million from its initial public offering. The $2 billion-asset company said in a press release Wednesday that it sold more than 4 million shares, including an overallotment of 525,000 shares, as part of the IPO. The shares were sold at $25 a share. The company said in October that net proceeds could be used to support organic growth and other purposes that

SmartFinancial in Knoxville, Tenn., has hired a team of wealth management professionals in Mobile, Ala.The $4.4 billion-asset company said in a press release Wednesday that the six-member team, hired from BBVA Compass Investment Solutions, will operate as part of SmartBank Investment Services.The team is being led by Thomas Montz, Amanda Montz and Nathan Novotny. SmartFinancial said the group has been responsible for more than $350 million in assets under management. 

Oportun in San Carlos, Calif., has agreed to buy neobank Digit. Oportun said in a press release Tuesday that it will pay $212.9 million in cash and equity for Digit in a move designed to expand its A.I. and digital capabilities. The deal is expected to close by early next year. Oportun said it had obtained a commitment to finance the cash consideration, noting that Jefferies had provided the financing commitment. The

U.S. Bancorp in Minneapolis has agreed to buy TravelBank, a San Francisco fintech that focuses on expense reporting. TravelBank also helps employees and businesses automate processes, streamline approvals and reporting, and ensure compliance with company policies. The deal is expected to close in the fourth quarter. The $567 billion-asset U.S. Bancorp did not disclose the price it will pay."We are focused on giving businesses more confidence, control and convenience in managing payments

A group in Delafield, Wis., is looking to form a bank. Organizers of the proposed Virtue Bank applied on Friday with the Federal Deposit Insurance Corp. for deposit insurance. The bank would operate as a unit of Digital First Bancorp. "The bank is being established to serve the financial needs of the local communities in which it resides," the group said in its application. "Additionally, it is expected that the bank will

BM Technologies in Radnor, Pa., has agreed to buy First Sound Bank in Seattle.BM Technologies, spun off from Customers Bancorp earlier this year, said in a press release Monday that it will pay $23 million in cash for the $150 million-asset First Sound. The deal is expected to close in the first half of 2022. The combined company will operate as BMTX Bank. BM Technologies, once known as BankMobile, said it

Norwood Financial in Honesdale, Pa., is looking for a new CEO. The $2 billion-asset company said in a press release Monday that Lewis Critelli will also retire as its president during the first half of next year. Norwood said it had hired Kaplan Partners to help it find a successor. Critelli has been Norwood’s president and CEO since 2010. Under his leadership, the company completed three acquisitions and expanded into new markets

Patriot National Bancorp in Stamford, Conn., has agreed to buy American Challenger Development in a move designed to create the nation’s biggest challenger bank. The $952 million-asset Patriot National said in a press release Monday it will pay $119 million for American Challenger. The deal will be structured as a reverse subsidiary merger, with American Challenger surviving as a wholly owned subsidiary of Patriot. Raymond Quinlan, American Challenger’s CEO, will