Strategic Insights into Banking & Fintech

Richton Bank in Mississippi has a new CEO

Richton Bank in Mississippi has a new CEO

Richton Bank & Trust in Richton, Miss., has a new leader. John Shappley shared in a LinkedIn post that he had become the $52 million-asset bank's CEO. Shappley, who remains president, had also been the bank's chief operating officer.

September 16, 2026
Community Bank Mankato in Minn. shakes up leadership after founder dies

Community Bank Mankato in Minn. shakes up leadership after founder dies

Community Bank Mankato in Vernon Center, Minn., has new leadership following the passing of founder Quentin Beadell. The $538 million-asset bank said in a press release that Carolyn Beadell had become chair and Bob Beadell was now president. Mike Ogaard was named CEO, while Jodi Schull became chief lending officer. "This change in leadership structure positions Community Bank Mankato to continue our long-standing tradition of community-focused financial services and forward-looking

September 15, 2026
Lineage Bank in Tenn. rebrands as it backs of BaaS strategy

Lineage Bank in Tenn. rebrands as it backs of BaaS strategy

Lineage Bank in Franklin, Tenn., has a new name. The bank said in a press release that it rebranded as Harpeth Bank & Trust as part of a decision to refocus on community banking. The bank pursued a Banking-as-a-Service strategy before receiving enforcement actions from the Federal Reserve and the Federal Deposit Insurance Corp. Recap Financial Ventures bought a majority interest and recapitalized the bank earlier this year. "This is

September 15, 2026
Enova withdraws applications to buy Grasshopper Bank

Enova withdraws applications to buy Grasshopper Bank

Enova International has withdrawn its applications to buy Grasshopper Bank in New York. Enova, which agreed in December 2025 to buy the bank for $369 million, has applied with the Office of the Comptroller of the Currency and the Federal Reserve. "After a thorough evaluation, we are confident that withdrawing our applications is the best decision for Enova and our shareholders," Steve Cunningham, Enova's CEO, said in a press release. "Bank

September 15, 2026
Truist to exit near-prime auto lending with $5.5B Regional Acceptance sale

Truist to exit near-prime auto lending with $5.5B Regional Acceptance sale

Truist Financial in Charlotte, N.C., will get out of near-prime auto lending by selling substantially all assets of its unit, Regional Acceptance. Truist will unload $5.5 billion in auto loans to an undisclosed buyer between now and the end of the year, according to a disclosure made ahead of the company's appearance at a banking conference. The unit's pretax earnings were roughly break-even during the first half of this year.

September 15, 2026
U Bancshares to buy Heritage Community Bank in Tennessee

U Bancshares to buy Heritage Community Bank in Tennessee

U Bancshares in Knoxville, Tenn., has agreed to buy Heritage Community Bank Greeneville, Tenn. The parent company of the $182.2 million-asset UBank will pay an undisclosed amount of cash and stock for the $184.4 million-asset Heritage Community. The deal is expected to close in the first quarter of 2027. Heritage Community will operate as a UBank division. Olsen Palmer, which advised Heritage Community, announced the transaction.

September 14, 2026
Arrow Financial in N.Y. buying insurance agency in its backyard

Arrow Financial in N.Y. buying insurance agency in its backyard

Arrow Financial in Glens Falls, N.Y., has agreed to buy Skene Valley Agency. Arrow said in a press release that it expects to buy the Glens Falls insurance agency by the end of this month. The price wasn't disclosed. "This strategic growth opportunity will allow us to deepen [our] presence in Washington County, where we have a long history of meeting diverse financial needs," said David DeMarco, Arrow's president and

September 11, 2026
Bank7 in Oklahoma inches closer to buying New Mexico bank

Bank7 in Oklahoma inches closer to buying New Mexico bank

Bank7 Corp. in Oklahoma City has emerged as the winning bidder in a court-supervised auction for roughly 71% of Century Financial Services in New Mexico. Bank7 disclosed in a regulatory filing that it agreed to raise its purchase price from $68 million to nearly $89 million. The roughly 237,000 shares became available for sale after a federal court in Arizona appointed a receiver to oversee their sale as part of

September 11, 2026