Spring Labs in Marina Del Rey, Calif., raised $5 million in a funding round led by BankTech Ventures and Haymaker Ventures. The fintech is building an agentic AI platform to help regulated financial institutions with compliance and operational workflows. "Financial institutions are facing a structural challenge: compliance workloads are growing faster than teams can scale," John Sun, Spring Labs' co-founder and CEO, said in the release. "Spring Labs is building AI agents

A former president and CEO of First National Bank of Lindsay pleaded guilty to a single count of bank fraud. The Oklahoma bank failed in October 2024 and was sold to First Bank & Trust in Duncan, Okla. Danny Seibel, who was fired as the bank's CEO a month before it failed, was indicted last December. He was accused of making loans to friends and neighbors without seeking repayment. Seibel

Tri-County Bancorp in Brown City, Mich., has agreed to buy Mayville Financial in Mayville, Mich. The parent of the $639 million-asset Tri-County Bank said in a press release that it expects to close the purchase of the $97 million-asset Mayville State Bank in the fourth quarter. The price wasn't disclosed. "We see in Mayville State Bank a like-minded organization with the same commitment to stellar customer service that is at

Parker, a fintech that focused on SMB banking and credit cards, shut down and filed for Chapter 7 bankruptcy protection. The company, which was backed by Valar Ventures, Y Combinator and others, offered a credit card, bill pay, and treasury management services to ecommerce-oriented small businesses. The fintech had partnered with Piermont Bank in banking and Patriot Bank with commercial credit cards. The May 7 bankruptcy filing reports $50 million

Partners Bank of California in Mission Viejo has a new CEO. The bank said in a press release that Michael Chambers will remain its president. He had also been the chief banking officer. “Mike’s promotion reflects the confidence the Board has in his leadership, experience, and commitment to the bank,” Mike Ahmar, the bank's executive chairman, said in the release. “His career with the bank exemplifies the values on which

Dime Commercial Bancshares in Hauppauge, N.Y., has created an equipment and franchise finance group. The company said in a press release that the group will be led by Keith Smith and will focus on middle-market companies and experienced franchise operators. “Launching this new specialty reflects our continued commitment to disciplined and diversified growth," Stuart Lubow, Dime's president and CEO, said in the release. “We see a significant opportunity to support clients

Cambridge Financial Group in Cambridge, Mass., has agreed to buy First Seacoast Bancorp in Dover, N.H. The $7 billion-asset Cambridge said in a press release that it will pay $80.9 million in cash for the $599 million-asset First Seacoast. The deal is expected to close in the third quarter. “At the heart of both institutions is a shared belief in the power of relationships – knowing our customers, supporting our

OptimumBank Holdings in Ft. Lauderdale, Fla., has shaken up its management. The company disclosed in a regulatory filing that Timothy Terry had retired as principal executive officer and has president and CEO of its bank. Moishe Gubin, OptimumBank Holdings' chairman, was named CEO of the company and bank. Braden Smith was named the bank's president. He was the chief business development officer at Amerant Bank.