Hanmi Financial in Los Angeles disclosed that its bank recently received a “needs to improve” rating tied to the Community Reinvestment Act.The $6.4 billion-asset company said in a Friday regulatory filing that the rating, issued by the Federal Deposit Insurance Corp., covers the period between March 29, 2018 and May 3, 2021. The rating results in restrictions on certain types of expansion, including some acquisitions and the establishment and relocation of

Heritage Financial in Olympia, Wash., is continuing to close branches.The $7.1 billion-asset company said in a press release Friday that it will shutter four locations on Oct. 29.The move will lower Heritage’s branch count to 49 locations, or a 21% decline from last fall.Heritage’s noninterest expenses fell 1.8% in the second quarter from a year earlier, to $36.4 million. Occupancy and equipment expenses decreased by 5.6%, to $4.1 million.Heritage’s net

South State in Winter Haven, Fla., has agreed to buy Atlantic Capital Bancshares in Atlanta. The $40.4 billion-asset South State said in a press release Friday that it will pay $542 million in stock for the $3.8 billion-asset Atlantic Capital. The deal, which is expected to close in early 2022, priced Atlantic Capital at 161% of its tangible book value.Atlantic Capital has two branches, $3.3 billion of deposits and $2.3

A trio of banks has disclosed recent sales of Paycheck Protection Program loans.Amerant Bancorp in Coral Gables, Fla.; Eagle Bancorp in Bethesda, Md.; and BancorpSouth Bank in Tupelo, Miss., said in separate press releases that they had sold a total of $990 million of PPP loans. They did not disclose the buyers.The $7.5 billion-asset Amerant said it sold $95.1 million of PPP loans in May. An additional $59.9 million of

Simmons First National in Pine Bluff, Ark., and Landmark Community Bank in Collierville, Tenn., tried on three occasions to work out a deal before announcing a $146.3 million merger in early June. The $23.3 billion-asset Simmons walked away twice, according to a regulatory filing associated the with its proposed acquisition. We’ll look at the details after reviewing the key aspects of the planned merger. The deal priced the $1 billion-asset

CNB Financial in Clearfield, Penn., is set to enter Virginia.The $5.1 billion-asset company said in a press release Tuesday that it will open a loan-production office in Roanoke, Va. CNB said the office, which will offer commercial loans, cash management services and private banking, will operate as Ridge View Bank.The company operates under a variety of bank brands depending on the market. CNB Bank is in central and north central

Level One Bancorp in Farmington Hills, Mich., has a new president. The $2.6 billion-asset company said in a press release Tuesday that it had promoted Timothy Mackay to the role. He succeeded Patrick Fehring, who will remain chairman and CEO. Mackey, previously an executive vice president and consumer banking officer, also become president of Level One Bank. Mackay has been responsible for the strategic leadership of the bank’s consumer banking

Hancock Whitney in New Orleans eliminated 200 jobs and will close 18 branches.The $35.1 billion-asset company said in a press release Tuesday that the branches will close in October. Including 20 locations that were closed earlier in the year, Hancock has reduced its network by about 18% since the end of 2020.The layoffs represented about 5.5% of the company’s workforce.Hancock had previously cut 260 positions after offering a voluntary early