NorthEast Community Bancorp in White Plains, N.Y., plans to write off the only nonperforming loan on its books. The $1.1 billion-asset company said in a press release Tuesday that the nonresidential real estate loan had a $3.6 million balance on June 30. It is secured by commercial real estate in Greenwich, Conn., and guaranteed by its two borrowers.  The loan, which is in foreclosure, is subject to Connecticut’s ongoing foreclosure

Synovus Financial in Columbus, Ga., announced that its specialty finance division CEO died in an airplane crash on Friday. The $55 billion-asset Synovus said in a public statement issued Monday that Jonathan Rosen and his assistant, Lauren Harrington, along with his daughter and her friend, were killed in the plane crash. Rosen and Harrington joined Synovus in 2016 when it bought Entaire Global One, a life insurance premium finance company. “From

Columbia Banking System in Tacoma, Wash., is merging with Umpqua Holdings in Portland, Ore.While the $18 billion-asset Columbia is the legal acquirer, shareholders of the $29.2 billion-asset Umpqua will own 62% of the combined company. The deal, estimated to have a value of $5.2 billion, is expected to close in mid-2022. Columbia will be the company’s name, while the bank will operate under the Umpqua brand. The combined company will

Oportun Financial, a consumer lender in San Carlos, Calf., has withdrawn its application with the Office of the Comptroller of the Currency for a bank charter. The company said in a Friday press release that it plans to revisit the application, adding that it had “forged a constructive relationship with the OCC” since filing its initial application nearly a year ago. More than 20 federal and state consumer advocacy groups wrote

PCB Bancorp in Los Angeles is working with clients impacted by a ransomware attack that took place over the summer.The $2.1 billion-asset parent of Pacific City Bank provided an update on its efforts to address fallout from the Aug. 30 incident.The company said in a regulatory filing that an ongoing investigation revealed that the incident impacted files containing certain customer data, including personal information of customers and their employees such

Bank7 in Oklahoma City has agreed to buy Watonga Bancshares in Watonga, Okla. The $1.2 billion-asset Bank7 said in a press release Thursday that it will pay $32 million in cash for the parent of the $241 million-asset Cornerstone Bank. The deal, which is expected to close in the fourth quarter, valued Watonga at 141% of its tangible book value.Cornerstone has three branches, $215 million of deposits and $116 million of

Eastern Bankshares in Boston is planning to sell the corporate offices of Century Bancorp in Medford, Mass. The $17 billion-asset Eastern disclosed in a regulatory filing Wednesday that it has an agreement to sell a five-story office building, a three-story building and nearly five acres of land for $20.5 million. Eastern agreed in April to buy Century for $642 million. The sale of the property is contingent on the Century acquisition closing.

A two-day golf trip kickstarted conversations that led to the pending sale of Reliant Bancorp in Brentwood, Tenn., to United Community Banks in Blairsville, Ga. The $19.6 billion-asset United agreed on July 14 to buy the $3.1 billion-asset Reliant for $517 million. Before we dig into the background, based on a recent regulatory filing tied to the merger, here is a recap the deal’s financial details. The deal, which is expected to close