Waterfall Bank, a de novo proposed for Clearwater, Fla., has secured conditional approval from the Federal Deposit Insurance Corp.Organizers still need to raise $45 million before opening the bank, according to the FDIC’s Sept. 8 order. The group behind Waterfall Bank applied with the FDIC in December. The bank would be based in the Waterfall Building, which is operated by Waterfall Capital Investments. The company “directs the deployment of capital for

Amalgamated Financial in New York will enter Chicago with an agreement to buy Amalgamated Bank.The $6.6 billion-asset Amalgamated Financial said in a press release Wednesday that it will pay $98.1 million in cash, including an earnout of up to $1.1 million, for the $950 million-asset Amalgamated Bank. The deal is expected to close by the end of this year. The Chicago bank was formed in 1922. It has $836 million of

Veritex Holdings in Dallas has agreed to buy North Avenue Capital in Ponte Vedra, Fla. The $9.3 billion-asset Veritex said in a press release Tuesday that it will pay $57.5 million in cash for the government-guaranteed lender. Three years after the deal closes, North Avenue has the right, subject to adjustment, to receive another $5 million in cash, subject to certain performance measures. The deal is expected to close in

JPMorgan Chase in New York has acquired Frank, a college financial-planning platform. The $3.7 trillion-asset company said in a press release Tuesday that Frank serves more than five million students at more than 6,000 higher education institutions. It did not disclose the price it paid. “We want to build lifelong relationships with our customers,” Jennifer Piepszak, Chase’s co-head of consumer and community banking, said in the release. “Frank offers a unique opportunity for

Natalie Bartholomew has been named chief impact officer at Citizens Bank of Edmond in Oklahoma. Bartholomew recently served as chief administrative officer at Grand Savings Bank in Grove, Okla. She is well-known in banking circles for creating The Girl Banker, a blog that promotes women leaders in the industry. "Over the last 20 years of my banking career, I have found that I’m most passionate about my job when I

German American Bancorp in Jasper, Ind., has agreed to buy Citizens Union Bancorp of Shelbyville in Kentucky. The $5.3 billion-asset German American said in a press release Tuesday that it will pay $154 million in cash and stock for the $1.1 billion-asset Citizens Union. The deal, which is expected to close in the first quarter, priced Citizens Union at 155% of its tangible book value. The acquisition “represents another important, strategic

U.S. Bancorp in Minneapolis has agreed to buy MUFG Union Bank in San Francisco. The $559 billion-asset U.S. Bancorp said in a press release Tuesday that it will pay $8 billion in cash and stock to Mitsubishi UFJ Financial Group for the $133 billion-asset MUFG Union Bank. The deal, which is expected to close in the first half of 2022, priced MUFG Union Bank at 130% of its tangible book

MUFG Union Bank has entered into a consent order with the Office of the Comptroller of the Currency.MUFG Americas Holding, the $133 billion-asset bank’s parent company, disclosed in a regulatory filing Monday that the Sept. 20 order is tied to “deficiencies in Union Bank’s technology and operational risk management.” MUFG Americas is part of Japan's Mitsubishi UFJ Financial Group. A recent report from Bloomberg News said that Mitsubishi UFJ Financial Group