SoFi has received conditional approval from the Office of the Comptroller of the Currency to acquire Golden Pacific Bank in Sacramento, Calif. The regulatory agency said in a press release Tuesday that it also approved Social Finance’s application to create SoFi Bank, which will be based in Cottonwood Heights, Utah. SoFi will have $5.3 billion of assets and $718 million of capital at the end of its first year of operation. The

Texas First Bank in Texas City is planning to launch a multicurrency debit account as part of a partnership with fintech Rêv Worldwide. The $2 billion-asset bank is set to introduce X World Wallet, a product that will eventually be offered to other community banks and credit unions, according to a press release. X World Wallet will be marketed to Americans who travel to or shop in countries such as Mexico

Atlantic Union Bankshares in Richmond, Va., has given a top bank executive more responsibility. The $19.9 billion-asset company said in a press release Monday that it had appointed Maria Tedesco to serve as chief operating officer of Atlantic Union Bank. She will remain the bank’s president, a position she has held since 2018. In the expanded role, Tedesco will oversee consumer and business banking, wholesale banking, wealth management and mortgages. She will

A pair for former Talmer Bancorp bankers are part of an effort to open a de novo in a Detroit suburb.Organizers of Community Unity Bancorp in Birmingham, Mich., applied on Jan. 12 with the Federal Deposit Insurance Corp. for deposit insurance. “We will serve the banking needs of our market area through commercial lending in the small business to lower middle-market commercial segments, full-service retail, mortgage and others, including in underserved

Five banks are part of a group formed to mint and use USDF stablecoins.The initial members of the USDF Consortium include New York Community Bank, NBH Bank, FirstBank, Sterling National Bank and Synovus Bank. Figure Technologies and JAM FINTOP, which are also among the founders, will facilitate and promote the adoption of USDF. Figure has spent recent years developing the USDF, which operates on the Provenance blockchain. The consortium said in

Eastern Bankshares in Boston has agreed to sell its cannabis-related business to NB Financial in Needham, Mass. The $17 billion-asset Eastern said in a press release Friday that it will also sell the money service business deposit relationships obtained from its acquisition of Century Bancorp. The sale is expected to close in the first half of this year. Eastern did not disclose how much the $2.9 billion-asset parent of Needham Bank will

Midwest Community Bancshares in Marion, Ill., has agreed to buy Carbondale Investment in Carbondale, Ill. Midwest, the parent of the $781 million-asset First Southern Bank, said in a press release that it plans to buy the holding company for the $282 million-asset Bank of Carbondale in the second quarter.The price was not disclosed. Bank of Carbondale has $134 million of loans and $241 million of deposits.“Bank of Carbondale and the Bleyer family

The Louisiana Bankers Association has a new CEO. The association said in a press release that its board had elected Ginger Laurent as its leader, effective Jan. 1. She succeeded Bob Taylor, who retired on Dec. 31 after serving as the association’s CEO since 2007. Laurent has been with the association for 22 years, including 14 years as its chief operating officer. Before that, she was a banker in the Acadiana