The leader of the Dakota Credit Union Association has stepped down after a decade of leading the trade group. The association said that Jeff Olson resigned as president and CEO, though no reason was given for his departure. George McDonald, the association's chief officer of partnerships and engagement, was named interim president and CEO. McDonald "is a respected member of the DakCU leadership team, and the board is confident in

Jack Henry & Associates acquired Victor Technologies, an API-first provider of direct-to-core embedded payments solutions, from MVB Financial in Fairmont, W.Va. MVB, which had called the sale "Project Volt," said in a press release that the sale should generate a $33 million pretax gain. Victor was created in 2021 and incubated within MVB. MVB said the sale gives it more flexibility to pursue balance sheet and capital management strategies, which

FNB Bank in Mayfield, Ky., has a new leadership. The $721 million-asset bank said in a press release that Paul Scott had become its CEO and Lori Noel is now president. They succeeded Sally Hopkins, who retired but is the chairman. “It’s an honor to take on the leadership of an institution with such a rich history and a deep commitment to its community,” Scott, who was chief financial officer,

Prosperity Bancshares in Houston has agreed to buy Southwest Bancshares in San Antonio, Texas. The $38.4 billion-asset Prosperity said in a press release that it will pay $268.9 million in stock for the $2.4 billion-asset parent of Texas Partners Bank. The deal, expected to close in the first quarter, priced Southwest at 153% of its tangible book value. Texas Partners has 11 branches, $1.9 billion of loans and $2.1 billion

Citizens Savings Bank and Trust in Nashville, Tenn., is looking for a new leader. The $185 million-asset bank said that Sergio Ora is stepping down as its CEO. Jim Schmitz, Citizens' chairman, will serve as interim CEO while the board searches for a permanent replacement. Citizens is the nation's oldest black-owned bank.

Brazilian digital lender Nubank has applied with the Office of the Comptroller of the Currency for a national bank charter. Nubank said in a press release that the move would allow it to eventually offer deposit accounts, credit cards, loans and digital asset custody. "Today, our core focus remains on delivering growth in our existing markets, where we continue to see substantial opportunities for expansion," David Vélez, Nu Holdings' founder

Adrienne Harris is stepping down as Superintendent of New York's Department of Financial Services. Kaitlin Asrow was appointed acting superintendent, effective Oct. 18. Harris, who has held her role since August 2021, did not outline her future plans. “It has been a privilege and an honor to serve New Yorkers, delivering positive outcomes for consumers; cementing DFS as a global regulatory leader; and transforming the Department’s operations," Harris said in

Fiserv in Milwaukee has lined up another acquisition. The company said in a press release that it will buy StoneCastle Cash Management, which enables more than 1,000 banks and credit unions to access stable, cost-efficient deposit funding. The deal is expected to close in the first quarter; the price wasn't disclosed. The acquisition “is an important step forward in our strategy to help financial institutions optimize their balance sheets, which