OFG Bancorp in San Juan, Puerto Rico, has invested in Nymbus. Nymbus, a fintech that helps banks and credit unions with loan originations and digital products, said in a press release Thursday that OFG Ventures, a unit of the $10.5 billion-asset OFG Bancorp, led a $3 million round of financing. Nymbus said the funding will help it create new products. “Our mission has remained steadfast to help financial institutions of

Citizens Financial Group in Providence, R.I., has agreed to buy Willamette Management Associates, a valuation consulting and forensic analysis firm.The $185.1 billion-asset Citizens said in a press release Thursday that it expects to close the deal later this quarter. It did not disclose the price it will pay.Willamette Management, formed in 1969, has offices in Chicago, Atlanta and Portland, Ore. The company offers a range of financial advising services to

Organizers of Locality Bank in Fort Lauderdale, Fla., has started raising the funds needed to open the proposed bank. The group said in a press release Thursday that it has $19 million in commitments from local business leaders. The organizers have set a goal of $23 million in initial capital. "Our founders, organizers and directors are some of the most notable business leaders in the community and we are looking forward to

Alabama Credit Union in Tuscaloosa has agreed to buy Security Federal Savings Bank in Jasper, Ala.The $1.3 billion-asset credit union said in a press release Thursday that it expects to close the all-cash deal for the $39 million-asset bank in the first quarter. Alabama Credit Union did not disclose the price it will pay.“We are very excited that Security Federal has agreed to join with Alabama Credit Union, bringing together

First Bank in Hamilton, N.J., has agreed to buy two New Jersey branches from OceanFirst Financial in Red Bank, N.J. The $2.4 billion-asset First Bank said in a press release Wednesday that it the branches are located in Flemington and Monroe. First Bank will gain $124 million of deposits and $14 million of loans with an average weighted yield of 3.79%. The acquisition is expected to close in the fourth

Genesis Bank has opened in Newport Beach, Calif.The de novo said in a press release that it received its final regulatory approvals on Monday.“I'm deeply proud of the entire Genesis team for their tireless efforts to reach this critical milestone in our evolution; not only in reaching our day one launch, but also in bringing our team together to work collaboratively in a dynamic, vibrant, technology advanced, COVID-sensitive, open office

BOK Financial in Tulsa, Okla., is readying for the final stage of CEO succession. The $47 billion-asset company said in press release Wednesday that Steve Bradshaw will retire as president and CEO on March 31.Stacy Kymes, BOK’s chief operating officer, will succeed Bradshaw. Kymes joined the company's board on Tuesday. Kymes, who has been with BOK for 25 years, has served in various positions, including chief auditor, director of mergers and acquisitions

Cypress Bank & Trust has received conditional approval for deposit insurance from the Federal Deposit Insurance Corp. Organizers of the proposed Melbourne, Fla., de novo must raise $16.5 million before opening, according to the July 22 order from the FDIC. Cypress Trust Co. applied with the FDIC in August to accept deposits. The company, which plans to become a state-chartered bank, will have two branches when it opens. Cypress Trust, formed