Gateway First Bank in Jenks, Okla., will soon have a new leader. The $2 billion-asset bank said in a press release that Kyle Hubbard will become CEO and join its board on May 1. Hubbard is president of Gateway’s banking division. Hubbard will succeed Scott Gesell. “Kyle brings a wealth of experience and energy to the position,” Gesell said in the release. “His past accomplishments and values make him the

Eagle Bancorp in Bethesda, Md., reported a sharp drop in profit after its loan-loss provision spiked. The $11.3 billion-asset company said in a press release that first-quarter net income fell by 89% from a quarter earlier, to $1.7 million, largely due to a $14.1 million increase in provision expense. Eagle said that the provision reflected a need to replenish the loan-loss allowance after the company had $11.2 million in net

Citizens & Northern in Wellsboro, Pa., has agreed to buy Susquehanna Community Financial in West Milton, Pa. The $2.6 billion-asset C&N said in a press release that it will pay $44.3 million for the $598 million-asset Susquehanna. The deal, which is expected to close in the fourth quarter, priced Susquehanna at 126% of its tangible book value. Susquehanna has seven branches in central Pennsylvania. The acquisition “continues our strategic efforts

Columbia Banking System in Tacoma, Wash., has agreed to buy Pacific Premier Bancorp in Irvine, Calif. The $50 billion-asset Columbia said in a press release that it will pay $2 billion for the $18.1 billion-asset Pacific Premier. The deal, which is expected to close in the second half of this year, priced Pacific Premier at 99% of its tangible book value. Columbia said the acquisition accelerates its Southern California expansion

Edward Jones in St. Louis is again looking to form an industrial bank in Utah. The brokerage company applied with the Federal Deposit Insurance Corp. on April 11 to form Edward Jones Bank. The application wasn't immediately available. Edward Jones last filed its applications for Edward Jones Bank in July 2020. Ray Dardano, who had been the CEO of Marlin Business Bank, was tapped to lead the effort with hopes

National Bank Holding in Denver reported lower quarterly earnings after charging off a credit due to suspected fraud by a borrower. The $10.1 billion-asset company said in a press release that its first-quarter net income fell by 23% from a year earlier, to $24.2 million. The company recorded $10.2 million of provision expense, largely due to the problematic loan. National Bank provided no other details about the borrower or the

BCB Bancorp in Bayonne, N.J., lost money in the first quarter after setting funds aside to cover issues with a borrower in the cannabis sector. The billion-asset company said in a press release that it lost $8.3 million, after earnings $5.9 million a year earlier. The first quarter included a $13.7 million specific reserve tied to a $34.2 million loan in the cannabis sector. “Although the borrower remains current, the

Orange County Bancorp in Middleton, N.Y., has agreed to sell a branch for $2.5 million. The $2.5 billion-asset company said in a press release that it will sell the property in Middleton to JRTN Properties in a deal expected to close this week. Orange County will lease the branch on a month-to-month basis through the rest of this year.