Meta Financial in Sioux Falls, S.D., will rebrand next year after selling its Meta-related rights and trademarks to another company. The $6.7 billion-asset Meta disclosed in a regulatory filing Monday that it agreed on Dec. 7 to sell the rights to Beige Key LLC for $60 million. As part of the agreement, Meta will phase out and cease all use of the “Meta” brand. Beige Key is affiliated with Facebook, which announced

Atlantic Union Bankshares in Richmond, Va., is planning a third round of branch closures. The $19.9 billion-asset company said in a press release Friday that it will shutter 16 locations, representing about 12% of its total branch network, by March 1. Atlantic Union also plans to close an operations center and sell 21,500 shares of Visa Class B common stock. The company said it expects to incur $18.1 million of one-time expenses

An activist investor plans to nominate three candidates for the board of Republic First Bancorp in Philadelphia. Driver Management also wants the $5.4 billion-asset Republic to replace Vernon Hill, the company’s CEO, with an independent chairman. The investor has also voiced its opposition to a plan by Republic First to raise more capital. Driver has submitted a notice of intent to nominate Peter Bartholow, Pamela Bundy and Richard Sinkfield III to stand

Valley National Bancorp in Wayne, N.J., has a new bank president. The $41 billion-asset Valley said in a press release Thursday that Thomas Iadanza will oversee the bank’s day-to-day operations, including commercial banking, retail banking, digital products, credit, customer experience and financial services.  Iadanza recently served as chief banking officer. “Tom is an exceptional leader who has played an integral role in Valley’s growth,” Ira Robbins, Valley’s CEO, said in the release. “As

A big shareholder of Pacific Enterprise Bancorp has voiced his opposition to the Irvine, Calif., company’s pending sale to BayCom in Walnut Creek, Calif. The $2.1 billion-asset BayCom agreed in September to buy the $647 million-asset Pacific Enterprise for $53.1 million in stock. The deal, which is expected to close in the first quarter, priced Pacific Enterprise at 87% of its tangible book value. Shaul Kopelowitz, who holds about 9.9% of

Alerus Financial in Grand Forks, N.D., has agreed to buy MPB BHC in Phoenix. The $3.2 billion-asset Alerus said in a press release Thursday that it will pay $85.3 million in stock for the parent of the $411 million-asset Metro Phoenix Bank. The deal is expected to close in the first quarter. Metro Phoenix, founded in 2007, has one branch, $283 million of loans and $366 million of deposits. Alerus has

Community Financial in Waldorf, Md., will have a new CEO next summer. The $2.3 billion-asset company said in a press release Wednesday that Jimmy Burke will succeed Bill Pasenelli on Aug. 31. Pasenelli also plans plans to retire from the company's board.“We believe that Bill and the management team have positioned the company well for the future,” Austin Slater Jr., Community Financial’s chairman, said in the release. “We are confident that

Synovus Financial in Columbus, Ga., is planning to close about 15% of its existing branches next year.The $56 billion-asset company disclosed in a presentation for a conference hosted by Goldman Sachs that it will shutter more than 40 branches. The move is expected to save the company $12 million annually.Synovus has about 280 branches, which represents a roughly 5% decrease from the nearly 300 locations it had in 2019.The company