Intercredit Bank in Miami plans to close its branches and shift to a digital-only strategy using its Pibank brand. Pibank, launched in the United States in 2024, has more than $2 billion of assets. The move to a branchless, cashless, digital-first model should be completed by this summer. “The transition to a fully digital model reflects what we have built to-date through Pibank, and we will now continue to build

Eagle Bancorp in Bethesda, Md., tossed out three board nominees proposed by activist investor Diligence Capital Management. The company disclosed in a regulatory filing that it invalidated the nominees, along with four shareholder proposals from Diligence, because the investor’s notice failed to comply with its amended bylaws. Eagle also said that Diligence was not a shareholder of record. Diligence owns less than 0.1% of Eagle outstanding stock. Separately, Eagle said

North Salem State Bancorp in North Salem, Ind., is proposing to buy a minority stake in Tri-County Bancorp in Roachdale, Ind. North Salem is proposing to acquire a 13.08% stake in the $295.7 million-asset Tri-County. The pricing wasn't disclosed. Tri-County has $204.3 million in loans.

Fidelity BancShares in Fuquay-Varina, N.C., has agreed to buy Affinity Bancshares in Covington, Ga. The $4.6 billion-asset Fidelity said in a press release that it will pay $142.8 million in cash for the $882 million-asset Affinity. The deal is expected to close in the third quarter. "The acquisition “brings together two community‑focused organizations that share a strong commitment to relationship‑driven banking and putting people first,” Mary Willis, Fidelity's president and

Carter Bankshares in Martinsville, Va., has severed ties with its biggest and most problematic business relationships. The $4.9 billion-asset company disclosed in a regulatory filing that it sold a batch of nonperforming loans connected to Sen. Jim Justice (R-W.Va.) and his family. Carter said it sold loans with an aggregate principal amount of roughly $209.5 million for consideration of $289.5 million in cash. The loans have not been earning interest

Heritage Bank in Willmar, Minn., has a new leader. The bank said that Robert Mathiasen will become its CEO on April 1. Mathiasen, who is chief operating officer, will succeed Tom Geiger, who will remain chairman. “I am deeply honored to carry forward the Geiger family’s philosophy of banking,” Mathiasen said in a press release. “Their commitment to relationships, entrepreneurship and doing what’s right for customers and communities has shaped

Riverview Bancorp in Vancouver, Wash., sells a large batch of securities. The $1.5 billion-asset company said in a press release that it sold $149.3 million in lower-yielding investment securities at an estimated pretax loss of $11.4 million. The move happened after Riverview reclassified all of its bonds as available-for-sale. Riverview said it expects to reinvest the proceeds into higher-yielding bonds that will be classified as available-for-sale, support loan originations, pay

Plaid bought media platform This Week in Fintech. Plaid announced the acquisition in a LinkedIn post. The price wasn't disclosed. "We are huge fans of what TWIF has evolved into, and plan to help it grow with more resources, more formats, and more ways for the community to connect — all while preserving the editorial independence and voice that TWIF subscribers trust," the post said. "The TWIF team will continue