Royal Credit Union in Eau Claire, Wis., has agreed to buy Lake Area Bank in Lindstrom, Minn.The $3.7 billion-asset credit union said in a press release Thursday that it expects to close the deal for the $500 million-asset Lake Area in the first quarter of 2022. Royal did not disclose the price it will pay. “Royal is excited for the opportunity to bring our value proposition and commitment to making

Orion Federal Credit Union in Memphis, Tenn., has agreed to buy Financial Federal Bank in Memphis.The $1 billion-asset credit union said in a press release Wednesday that it will pay cash for the $751 million-asset Financial Federal. Orion did not disclose the price it will pay.“This transaction positions Orion to be a fierce competitor in the southeastern region in both the commercial and consumer banking spaces,” Andre Fowlkes, Orion’s chairman,

Provident Bancorp in Amesbury, Mass., has set an ambitious goal for its dealings in crypto-related businesses.The $1.6 billion-asset company disclosed in a recent presentation that it plans to bring in more than $1 million in fee income next year from cash vault services for Bitcoin ATMs, also known as BTMs. Provident also shared in the presentation that it had about $95 million in crypto-related deposits on June 30, or nearly

Truist Financial in Charlotte, N.C., has agreed to buy Service Finance, a Boca Raton, Fla., company that makes point-of-sale loans for home-improvement projects.The $522 billion-asset Truist said in a press release Tuesday that it will pay $2 billion to Canadian-based ECN Capital for Service Finance. The deal is expected to close later this year.Service Finance uses proprietary technology to deliver payment solutions to more than 14,000 home-improvement dealers and contractors.

National Bank Holdings in Denver has invested in a blockchain fintech firm as part of a broader effort to build a comprehensive digital platform. The $7.1 billion-asset company said in a press release Tuesday that it will work with Figure Technologies on a variety of blockchain-related initiatives. National Bank did not disclose the size of the investment or any specific initiatives.National Bank said it is also finalizing an investment in Finastro

Simmons First National in Little Rock, Ark., has created an equipment finance division after hiring 11 commercial bankers.The $23.4 billion-asset company said in a press release Tuesday that Lee Palm will serve as president of the new division. Palm previously served as president of commercial finance at TCF Financial.Brian Shapiro, another former TCF banker, will serve as managing director in charge of Simmons’ transportation and marine business. TCF was sold

Valley National Bancorp in New York had to raise its offer to strike a deal for Westchester Bank Holding in White Plains, N.Y. The $41.3 billion-asset Valley was the largest of seven bidders for the $1.3 billion-asset Westchester, according to a regulatory filing tied to the pending $210 million acquisition. Valley was coaxed to boost its offer by 6.5%, to $3,300 a share, to gain an exclusivity agreement. First, the details of

Orange County Bancorp in Middletown, N.Y., raised $35.2 in net proceeds from its initial public offering.The $1.9 billion-asset company said in a press release Monday that it sold nearly 1.2 million shares of common stock at $33.50 a share. About 150,000 shares were sold as part of the underwriters’ overallotment option.The company said in a prospectus that net proceeds could be used to support growth in areas such as lending