Dime Community Bancshares in Hauppauge, N.Y., plans to close five New York branches.The $13 billion-asset company said in a press release Tuesday that it will close three branches in Brooklyn and one each in Southampton and Wading River. The closures will take place in October. “We regularly review our distribution channels and these combinations are part of our ongoing efforts to improve the efficiency of our branch network,” Kevin O’Connor, Dime’s

Chemung Financial in Elmira, N.Y., disclosed that its bank had entered into a consent order with the New York State Department of Financial Services to address alleged violations of the state’s fair lending law and federal Equal Credit Opportunity Act. The order, signed last week, addressed issues the state regulator raised with Chemung Canal Trust’s indirect automobile lending program, the company said in a Tuesday regulatory filing. While it consented

Community State Bank in Avilla, Ind., will soon have a new CEO.The $347 million-asset bank said in a press release Tuesday that Will Thatcher will also become its president on July 1. He will succeed Stuart Hood, who is retiring after leading the bank for the last 12 years.Thatcher previously served as president of the Fort Wayne region for First Merchants Bank.“CSB has been a terrific experience,” Hood said in

FineMark Holdings in Fort Myers, Fla., has raised $82.5 million from a private placement.The $2.9 billion-asset parent of FineMark National Bank & Trust said in a press release Monday that it lined up buyers for 2.5 million shares of common stock.Initial shares were sold on Friday to qualified institutional buyers and accredited investors, while roughly 818,000 shares will be sold on July 15 to a fund managed by Strategic Value

Apollo Bank in Miami, which tried unsuccessfully to sell itself to a credit union, has formed a residential lending division. The $850 million-asset bank’s new mortgage operation will focus on high-net-worth individuals in Southern Florida, according to the South Florida Business Journal. The move creates a dedicated group to build on Apollo’s existing mortgage lending capabilities. Apollo hired Agustin Goytisolo to lead the division. The bank plans to hire five

Fentura Financial in Fenton, Mich., has agreed to buy Farmers State Bank in Munith, Mich.The $1.3 billion-asset Fentura said in a press release last week that it will pay $15.5 million in cash for the $104 million-asset Farmers State. The deal, which is expected to close in the fourth quarter, priced Farmers State at 176% of its tangible book value. Fentura said the deal should be 12% to 14% accretive

JPMorgan Chase has agreed to buy OpenInvest, a San Francisco fintech that helps financial professionals customize and report on values-based investments.OpenInvest will retain its brand and be integrated into J.P. Morgan's Private Bank and Wealth Management client offerings. The $3.7 trillion-asset JPMorgan did not disclose the price it will pay. The deal is expected to close in the third quarter.OpenInvest was founded in 2015."Clients are increasingly focused on understanding the

Dime Community Bancshares in Hauppauge, N.Y., has sold a block of Paycheck Protection Program loans to The Loan Source.The $13 billion-asset company said in a press release Monday that it sold more than $585 million of 2021 PPP originations, adding that it expects to report a pretax gain of roughly $20.5 million in the second quarter.Dime said its tangible common equity ratio should increase by about 45 basis points. Its