Malvern Bancorp in Paoli, Pa., said it will have a special loan-loss provision in its fiscal fourth quarter after selling three loans and recording a writedown. The $1.2 billion-asset company said in a press release Friday that it recorded a $10.4 million writedown after selling loans with an aggregate book balance of $29.3 million. The loans sold included about $12.2 million of nonaccruing loans and $17.1 million of performing troubled-debt restructurings. The

Dickinson Financial, the parent of Armed Forces Bank in Leavenworth, Kan., has agreed to buy the residential mortgage operations of KS StateBank in Manhattan, Kan.The $1.2 billion-asset Armed Forces Bank did not disclose how much it will pay the $2.3 billion-asset KS StateBank. The transaction is expected to close in the fourth quarter.The deal is expected to more than double Armed Forces Bank’s mortgage lending business and add four loan-production

Organizers of the proposed Locality Bank in Fort Lauderdale, Fla., have received conditional approval for deposit insurance from the Federal Deposit Insurance Corp. The FDIC is requiring the group to raise $23 million before opening the de novo, according to the Nov. 1 order. Locality’s organizers announced plans for the bank in March. The group said in August that it had secured $19 million in commitments from local business leaders. Keith Costello is

Amerant Bancorp in Coral Gables, Fla., is cutting costs through a outsourcing agreement with FIS.The $7.5 billion-asset Amerant said in a press release Thursday that the multiyear agreement gives FIS full responsibility for a number of functions, including certain back-office operations.  The move will outsource 90 positions to FIS and reduce Amerant’s annual expenses by $12 million. "We are excited to begin this relationship with FIS and for the positive impact

Blue Ridge Bankshares in Charlottesville, Va., said an issue raised by the Office of the Comptroller of the Currency will delay the planned completion of its purchase of FVCBankcorp in Fairfax, Va.The $2.7 billion-asset Blue Ridge did not provide details on the issue, though it said the “regulatory concerns … could impact the application process and timing” of the merger. Blue Ridge, which originally planned to close the deal in the

First Merchants in Muncie, Ind., has agreed to buy Level One Bancorp in Farmington Hills, Mich. The $15.1 billion-asset First Merchants said in a press release Thursday that it will pay $323.5 million in cash and stock for the $2.5 billion-asset Level One. The deal, which is expected to close in the first half of 2022, priced Level One at 188% of its tangible book value.Level One has 16 branches,

OceanFirst Financial in Red Bank, N.J., has agreed to buy Partners Bancorp in Salisbury, Md. The $11.8 billion-asset OceanFirst said in a press release Thursday that it will pay $186 million in cash and stock for the $1.6 billion-asset Partners. The deal, which is expected to close in the first half of 2022, priced Partners at 146% of its tangible book value. Partners has two banks: Bank of Delmarva and Virginia

A group in central Pennsylvania is looking to form a minority, women-owned bank. Organizers of American Women’s Bank in Camp Hill, Pa., applied with the Federal Deposit Insurance Corp. on Tuesday for deposit insurance. The bank would have a national charter and would be regulated by the Office of the Comptroller of the Currency. The group’s “mission is to create a financial platform for women who would like to pursue