Georgia Banking Co. in Atlanta and First Bancshares in Mountain Grove, Mo., raised capital by selling common stock. Georgia Banking, which recently bought Primary Bancshares, raised about $1.5 million through a private placement. according to data compiled by Performance Trust Capital Partners. First Bancshares, meanwhile, brought in $2 million in capital from its private placement. Performance Trust did not list the pricing, shares sold, or investors.

Oak View Bankshares in Warrenton, Va., raised nearly $8 million from a private placement. The company said in a press release that it sold nearly 560,000 shares of common stock at $14 each. The proceeds will be used for general corporate purposes. "We are pleased to announce the successful completion of the private placement," Michael Ewing, the company's chairman and CEO, said in the release. "This offering positions us for future

The Federal Deposit Insurance Corp. has approved its first new bank in 2025. The agency gave conditional approval to organizers of the proposed Houston Bank and Trust. The group must raise at least $35 million before opening the bank. The group first applied with the FDIC in February 2022 to form Houston Bank of Commerce & Trust, reapplying in May 2023. In March 2024, the group shortened the proposed de

West Shore Bank in Ludington, Mich., bought the wealth management, investment advisory and trust services business of Auto Club Trust FSB in Dearborn, Mich. The $768 million-asset West Shore did not disclose the pricing for the all-cash transaction. “Our team is committed to providing personalized service, expert guidance, and customized solutions to help clients achieve their financial goals," Raymond Biggs, West Shore's CEO, said in a statement. "This acquisition aligns

Itasca Bank & Trust in Itasca, Ill., has new leadership. The $772 million-asset bank said in a press release that John J. Hunt had become its president. Hunt, who will remain chief loan officer, succeeded James Mensching, who is chairman and CEO. Mensching succeeded Jack Mensching, who retired as chairman. Itasca "has built a legacy of trust, stability, and community commitment for 77 years, and I am honored to step

Solid Financial Technologies, also known as Wise Company, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. The California-based fintech, which offers infrastructure for digital banking and payment processing, submitted its petition on Monday, listing both assets and liabilities in the $1 million to $10 million range. The bankruptcy marks yet another blow to the increasingly fragile Banking-as-a-Service (BaaS) ecosystem. Once hailed

Alinea Invest, a wealth management fintech focused on younger investors, has raised $10.4 million in its Series A funding round. Eve Halimi, the New York company's co-founder and co-CEO, announced in a LinkedIn post that the funding was led by Play Ventures and included GFR Fund, Y Combinator, Gaingels, FoundersX Ventures, and F7 Ventures. "A huge thank you to our incredible team, investors, and community—this wouldn’t be possible without you," Halimi

Ripple, a San Francisco company that provides digital asset infrastructure, has agreed to buy New York prime broker Hidden Road for nearly $1.3 billion. “We are at an inflection point for the next phase of digital asset adoption – the U.S. market is effectively open for the first time due to the regulatory overhang of the former SEC coming to an end, and the market is maturing to address the