Alerus Financial in Grand Forks, N.D., will have a new CEO in 2022. The $3.2 billion-asset company said in a press release Monday that Katie Lorenson, its chief financial officer, will also become president on Jan. 1. She will also join the board. Lorenson will succeed Randy Newman, who will transition to the role of executive chairman.“Katie is a proven leader and seasoned executive with a deep understanding and passion for

Investors Bancorp in Short Hills, N.J., had “substantive negotiations” with another bank months before agreeing to be sold to Citizens Financial Group in Providence, R.I. The $27 billion-asset Investors agreed in July to sell to the $185 billion-asset Citizens for $3.5 billion. Investors, however, held discussions with another bank in its market in early 2019, and again from January to April in 2020, about a deal, according to a regulatory filing

The Federal Deposit Insurance Corp., which investment support from Truist Financial and Microsoft, is launching a fund supporting minority depository institutions and community development financial institutions.The agency said in a press release Thursday that the Mission-Driven Bank Fund has $120 million in initial commitments. Truist and Microsoft are leading the investment fund, while Discovery will join as a founding investor."Microsoft and Truist have answered the call to become anchor investors

First Interstate BancSystem in Billings, Mont., has agreed to buy Great Western Bancorp in Sioux Falls, S.D. The $18.9 billion-asset First Interstate said in a press release Thursday that it will pay $2 billion in stock for the $13 billion-asset Great Western. The deal is expected to close in the first quarter. “This is a transformative moment for our 53-year-old company,” Kevin Riley, First Interstate’s president and CEO, said in the release. "The

Republic Bancorp in Louisville, Ky., will have a new bank CEO next month. The $6.2 billion-asset company said in a press release Wednesday that Logan Pichel will succeed Steve Trager as CEO of Republic Bank on Oct. 1. Pichtel, who will remain the bank’s president, has also joined the company’s board. Trager will remain chairman and CEO of the company and chairman of the bank. Scott Trager remains the company’s

Goldman Sachs Group in New York has agreed to buy point-of-sale lender GreenSky for roughly $2.2 billion. The deal is expected to close by the first quarter of 2022.GreenSky offers payment plans to customers who are planning home-improvement projects or have health care costs. Banks use the company’s technology to make loans to super-prime and prime consumers. GreenSky services a $9 billion loan portfolio; roughly 4 million customers have financed more

First Financial Bancshares in Lawrence, Kan., has agreed to buy University National Bank in Lawrence.The parent of the $256 million-asset Great American Bank expects to acquire the $91.9 million-asset University National in the fourth quarter, according to an announcement from Olsen Palmer.The price was not disclosed.University National has one branch.Olsen Palmer advised Lawrence Financial, the parent company of University National.

Home BancShares in Conway, Ark., has agreed to buy Happy Bancshares in Amarillo, Texas.The $17.6 billion-asset Home said in a press release Wednesday that it will pay $919 million in stock for the $6.3 billion-asset parent of Happy State Bank. The deal, which is expected to close in the first quarter, priced Happy at 166% of its tangible book value.Home, the parent of Centennial Bank, will enter Texas when the