Jewel Box Financial Services in Columbus, Wis., has agreed to buy Ambanc Financial Services in Beaver Dam, Wis. Jewel Box, the parent of the $661 million-asset Farmers & Merchants Union Bank, expects to buy the holding company for the $202 million-asset American Bank of Beaver Dam in the first quarter, according to an announcement by Olsen Palmer. Olsen Palmer advised Jewel Box. The price wasn't disclosed,

Activist investor Lawrence Seidman continues to pressure Blue Foundry Bancorp, this time pressing the Rutherford, N.J., company to replace its management team or find a buyer. Seidman, who says he owns about 0.8% of the $2.1 billion-asset company's stock, sent a letter to the board making his demands. Blue Foundry has lost money in each of the past 11 quarters. It had a 110.15% efficiency ratio in the third quarter.

Rosedale Bank in Baltimore has acquired the deposits and certain liabilities from Eastern Savings Bank in Hunt Valley, Md. The $1.3 billion-asset Rosedale also bought deposit account overdrafts, overdraft lines of credit, and certain other assets that belonged to Eastern Savings, according to an announcement by Olsen Palmer, which advised Rosedale. The pricing wasn't disclosed. No other loans were purchased.  

Richmond Mutual Bancorp. in Richmond, Ind., has agreed to buy Farmers Bancorp in Frankfort, Ind. The $1.5 billion-asset Richmond Mutual said in a press release that it will pay $82 million in stock for the $1.1 billion-asset Farmers. The deal, which is expected to close in the second quarter, priced Farmers at 100% of its tangible book value. The combined bank will be rebranded before closing. Five Farmers' directors will

Rhineland Bancshares in Rhineland, Mo., has agreed to buy BancStar in Pacific, Mo. The $801 million-asset Rhineland expects to complete its purchase of the $191 million-asset BancStar in the first quarter, according to an announcement by Olsen & Palmer, which advised the seller. The price wasn't disclosed. BancStar has three branches.

Cornerstone Capital Bank in Auburn, Ala., has formed a mortgage partnership with a homebuilder. The bank said in a press release that Ironcrest Mortgage, the venture with Stone Martin Builders, will leverage its lending expertise with the builder's custom homebuilding experience. "We're excited to merge Cornerstone's proven national lending platform with Stone Martin's deep roots and dedication to durable, custom construction," Trey Bell, the bank's builder division president, said in

Mutual Bancorp in Hyannis, Mass., and Bluestone Bank in Raynham, Mass., are merging. Mutual Bancorp, the $7 billion-asset parent of Cape Cod 5 and Fidelity Bank, said in a press release that it expects to complete the merger with the $1.6 billion-asset Bluestone in the third quarter of 2026. Mutual Bancorp will become the largest mutual in New England and the third largest in the country. “Our teams have worked together

Huntington Bancshares in Columbus, Ohio, continues its buying spree, agreeing to buy several business units of Janney Montgomery Scott. Huntington will buy Janney’s merger-and-acquisition advisory, public finance, and fixed-income sales and trading units. The businesses will be integrated into Huntington units, including Capstone Partners, its investment banking advisory arm, and Huntington Securities, which focuses on capital markets and trading services. The pricing wasn't disclosed.