A group is looking to form a bank in Huntsville, Ala.  Organizers of the proposed Nova Bank applied with the Federal Deposit Insurance Corp. on Monday for deposit insurance. The application wasn’t immediately available.   The organizers are Marc Minish, Timothy Allsopp, Keri Butler, Christina Rutledge, Bo Cochran, J. Russ Hayles, Trey Hodge, Travis Howard, T. Markus Khouri, W. Burton Moffett, Dennis Norton, Craig Paulus, Chris Ray, Darrell Wates and

A group in Bloomington, Minn., is looking to form a bank.Organizers of Brava Bank applied with the Federal Deposit Insurance Corp. on Monday for deposit insurance.Brava would be a state-chartered bank with Entrepreneurs Bancshares serving as its holding company, according to a legal notice announcing the effort. The principal shareholder of Entrepreneurs Bancshares would be the Entrepreneurs Bancshares Revocable Trust of Daniel A. Boeckermann, the FDIC application said."Although the bank's

Stock Yards Bancorp in Louisville, Ky., has agreed to buy Commonwealth Bancshares in Louisville. The $6.1 billion-asset Stock Yards said in a press release Tuesday that it will pay $153 million in cash and stock for the $1.3 billion-asset Commonwealth. The deal is expected to close in the fourth quarter. Commonwealth has 16 branches, $733 million of loans and $1.1 billion of deposits. The company also has a wealth management and

Newtek Business Services in Boca Raton, Fla., has agreed to buy National Bank of New York City as part of a plan to become a bank holding company.Newtek said in a press release Monday that it will pay $20 million in cash for the $204 million-asset bank. The deal is expected to close in six to 12 months. National Bank must have $20 million of tangible common equity on the closing

Aquesta Financial Holdings in Cornelius, N.C., received offers from six bidders when it looked to sell itself earlier this year. The $18.6 billion-asset United Community Banks in Blairsville, Ga., would walk away with the deal for the $752 million-asset Aquesta on May 27. First, here’s a look at the financial details of the $131 million transaction, which is expected to close by the end of this year. The cash-and-stock transaction

Freedom Bank in Fairfax, Va., plans to form a bank holding company.The $837 million-asset bank said in a press release Thursday that it will apply to create Freedom Financial Holdings. Freedom said the board approved the move to “provide added financial and operational flexibility.”Having a bank holding company would also broaden the bank’s ability to pursue nonbank activities.“The formation of the new holding company will put the bank in the

TowneBank in Suffolk, Va., has a new president.The $15.8 billion-asset bank said in a press release Friday that Brad Schwartz had taken on the role, succeeding J. Morgan Davis. Schwartz will remain TowneBank’s chief operating officer.Davis will remain CEO.Schwartz was CEO of Monarch Bank when it was sold to TowneBank in 2016.Schwartz “has played a significant role in the enhancement of our operational capabilities as well as his contribution to

First Mid Bancshares in Mattoon, Ill., has agreed to buy Delta Bancshares in St. Louis, along with a loan and deposit portfolio in the city.The $5.8 billion-asset First Mid said in a press release Thursday that it will pay $15.2 million in cash and stock for the $697 million-asset Delta. The deal, which is expected to close in the fourth quarter, priced Delta at 141% of its tangible book value.Delta