DoorDash has formed a division that will make business loans to restaurants. DoorDash Capital will allow merchants to use the delivery service’s app to apply for loans that could be used to buy equipment, apply for business and liquor licenses, make payroll and pay rent. The company has already made some loans, based on testimonialsincluded on its website. “As we continue to listen to our partners and adapt our services and offerings to

An investor group looking to oust Vernon Hill as CEO of Republic First Bancorp is backing another shareholder’s effort to have three directors added to the Philadelphia company’s board.George Norcross III, Gregory Braca and Philip Norcross said in a regulatory filing that they intend to support the nominees submitted by Driver Management. They also plan to oppose the $5.4 billion-asset Republic First’s nominees, including Hill. Hill is also the company’s chairman. The

CNB Financial in Clearfield, Pa., will have a new CEO later this year. The $5.3 billion-asset CNB said in a press release Wednesday that Joseph Bower will retire as CEO of CNB Bank on July 1 and the company’s president and CEO on Dec. 31. He has been the company’s CEO since December 2009. Michael Peduzzi, the bank’s president and chief operating officer, will succeed Bower. Bower “brought a lot of talent and

Colony Bankcorp in Fitzgerald, Ga., is looking to sell $52.5 million of common stock. The $2.5 billion-asset company said in a term sheet filed on Monday that it has a 15% overallotment option for the offering, which is being handled by Hovde Group and Janney Montgomery Scott. Proceeds would be used for general corporate purposes that include supporting growth, investing in Colony’s bank and “other future strategic opportunities.”

Former banker Stephen Calk was sentenced by a federal judge to just over a year in prison after he was convicted in a bribery case involving former Trump campaign chairman Paul Manafort. Lorna Schofield, a judge representing the Southern District of New York, also assess a $1.25 million fine. Calk, once CEO of Federal Savings Bank in Chicago, also faces two years of supervised release and will be required to perform

Home BancShares in Conway, Ark., has acquired a portfolio of marine loans from LendingClub. The $18.1 billion-asset Home said in a press release Monday that it bought $238 million of performing yacht loans, which will be housed in its Shore Premier Finance division. Home did not disclose the price it paid. The division now has about $1.1 billion of loans receivable. “The marine business has continued to be a strong segment,” Johnny

A shareholder group interested in replacing the CEO of Republic First Bancorp has increased its stake in the Philadelphia company. George Norcross III, Gregory Braca and Philip Norcross, who raised their stake from 6.6% to 8.8%, reiterated in the Feb. 7 regulatory filing their desire to meet with the $5.4 billion-asset company’s board. The investors said they had a “brief and unproductive conversation” with Vernon Hill, who “indicated no interest on his

The Federal Reserve and the Office of the Comptroller of the Currency will hold a public meeting to discuss U.S. Bancorp’s pending purchase of MUFG Union Bank. The Fed and OCC said in a press release Monday that they will host a virtual meeting on March 8 at 11 am EST. Members of the public seeking to present oral comments must register by noon on March 1 through the online registration webpage. Public