Strategic Insights into Banking & Fintech
Ion Financial in Naugatuck, Conn., has agreed to absorb Cooperative Bank in Boston. The $2.8 billion-asset Ion said in a press release that the $540 million-asset Cooperative will continue to operate as a division. Cooperative President and CEO John Battaglia will join Ion as president of the new division. The banks will create a $2.5 million charitable foundation to support local communities served by the Massachusetts branches. Performance Trust Capital
North Shore Bank in Brookfield, Wis., has agreed to buy 1895 Bancorp of Wisconsin in Greenfield. The $2.5 billion-asset North Shore said in a press release that it will pay $18.40 to $18.66 a share in cash for the parent of the $598 million-asset PyraMax Bank. The deal is expected to close in the fourth quarter. “This is a natural fit between two organizations that believe in community banking at
South Plains Financial in Lubbock, Texas, will end this year with new leadership. The company said in a press release that Cory Newsom will become its CEO on Dec. 31. Newsom South Plains' president, will succeed Curtis Griffith, who will retire. “Our leadership transition has been the result of many years of deliberate planning, and Cory has been instrumental throughout that process," Griffith said in the release. "He has been
Georgia Banking Co. in Atlanta and Climate First Bancorp in St. Petersburg, Fla., raised capital. Georgia Banking said in a press release that it completed a $77.7 million private placement of primary and secondary shares, led by funds managed by affiliates of Fortress Investment Group. The company plans to use proceeds to support continued growth and "future strategic expansion opportunities." "We're building a bank for growing companies across Georgia, and
MidFirst Bank in Oklahoma City has agreed to buy Dallas Capital Bank. The $42 billion-asset MidFirst did not disclose how much it will pay for the $1.2 billion-asset Dallas Capital. “Dallas is one of the most dynamic banking markets in the country, and Dallas Capital Bank has built exactly the kind of relationship-focused culture that defines the MidFirst experience,” Todd Dobson, MidFirst's CEO, said in a press release. “Dallas Capital
ODNB Financial in Tysons Corner, Va., has agreed to buy National Capital Bancorp in Washington, D.C. The $1.6 billion-asset ODNB said in a press release that it will pay $98 million in cash and stock for the $735.3 million-asset parent of National Capital Bank of Washington. The deal is expected to close in the fourth quarter. The company will be known as National Capital Bancorp, and National Capital Bank will
Peoples Bancorp in Newton, Ill., has agreed to buy Bancorp of Rantoul in Rantoul, Ill. The $729 million-asset Peoples expects to buy the parent of the $284 million-asset Bank of Rantoul in the fourth quarter. The price of the all-cash deal wasn't disclosed. Bank of Ratoul has two branches. Rantoul Chairman and co-CEO Denny Long will join Peoples as a market president; Craig Rogers will also become a market president.
Truist Financial in Charlotte, N.C., has a new leader lined up. The company said in a press release that Mike Lyon will succeed Bill Rogers as president and CEO on Sept. 1. Lyon was CEO of Fiserv. Rogers, who has served as Truist's CEO since September 2021, will serve as executive chairman until he retires next year. “Through our succession planning process, it became clear that Mike is an action-oriented
Organizers of Locality Bank in Fort Lauderdale, Fla., has started raising the funds needed to open the proposed bank. The group
Alabama Credit Union in Tuscaloosa has agreed to buy Security Federal Savings Bank in Jasper, Ala.The $1.3 billion-asset credit union
First Bank in Hamilton, N.J., has agreed to buy two New Jersey branches from OceanFirst Financial in Red Bank, N.J.
Genesis Bank has opened in Newport Beach, Calif.The de novo said in a press release that it received its final
BOK Financial in Tulsa, Okla., is readying for the final stage of CEO succession. The $47 billion-asset company said in press
Cypress Bank & Trust has received conditional approval for deposit insurance from the Federal Deposit Insurance Corp. Organizers of the
A group is looking to form a bank in Huntsville, Ala. Organizers of the proposed Nova Bank applied with the
A group in Bloomington, Minn., is looking to form a bank.Organizers of Brava Bank applied with the Federal Deposit Insurance
Stock Yards Bancorp in Louisville, Ky., has agreed to buy Commonwealth Bancshares in Louisville. The $6.1 billion-asset Stock Yards said in
Newtek Business Services in Boca Raton, Fla., has agreed to buy National Bank of New York City as part of
Aquesta Financial Holdings in Cornelius, N.C., received offers from six bidders when it looked to sell itself earlier this year.
Freedom Bank in Fairfax, Va., plans to form a bank holding company.The $837 million-asset bank said in a press release
TowneBank in Suffolk, Va., has a new president.The $15.8 billion-asset bank said in a press release Friday that Brad Schwartz
First Mid Bancshares in Mattoon, Ill., has agreed to buy Delta Bancshares in St. Louis, along with a loan and
Finward Bancorp in Munster, Ind., has agreed to buy Royal Financial in Chicago.The $1.6 billion-asset Finward said in a press
Community Trust Bancorp in Pikeville, Ky., will have a new CEO in 2022.The $5.5 billion-asset company said in a press
Horizon Bancorp in Michigan City, Ind., plans to close 10 branches.The $6.1 billion-asset company said in a press release Tuesday
Citizens Financial Group in Providence, R.I., has agreed to buy Investors Bancorp in Short Hills, N.J. The $185.1 billion-asset Citizens
TriCo Bancshares in Chico, Calif., has agreed to buy Valley Republic Bancorp in Bakersfield, Calif.The $8 billion-asset TriCo said in
CVB Financial in Ontario, Calif., has agreed to buy Suncrest Bank in Visalia, Calif.The $15 billion-asset CVB said in a
First Busey in Champaign, Ill., plans to close 15 branches. The $12.4 billion-asset company said in a press release Tuesday
Organizers of Genesis Bank in Newport Beach, Calif., have raised enough capital to open their proposed de novo.The group said
MainStreet Bancshares in Fairfax, Va., has added a former regulator to its board. The $1.7 billion-asset company said in a
First Western Financial in Denver has agreed to buy Teton Financial Services in Jackson, Wyo. The $2 billion-asset First Western
Bank of the Lowcountry in Walterboro, S.C., has a new CEO. The $269 million-asset bank said in a LinkedIn post
HBT Financial in Bloomington, Ill., is planning to close a number of branches. The $4 billion-asset company said in a
Old Second Bancorp in Aurora, Ill., has agreed to buy West Suburban Bancorp in Lombard, Ill. The $3.3 billion-asset Old Second
Hanmi Financial in Los Angeles disclosed that its bank recently received a “needs to improve” rating tied to the Community
Heritage Financial in Olympia, Wash., is continuing to close branches.The $7.1 billion-asset company said in a press release Friday that
South State in Winter Haven, Fla., has agreed to buy Atlantic Capital Bancshares in Atlanta. The $40.4 billion-asset South State
A trio of banks has disclosed recent sales of Paycheck Protection Program loans.Amerant Bancorp in Coral Gables, Fla.; Eagle Bancorp
Simmons First National in Pine Bluff, Ark., and Landmark Community Bank in Collierville, Tenn., tried on three occasions to work
CNB Financial in Clearfield, Penn., is set to enter Virginia.The $5.1 billion-asset company said in a press release Tuesday that
Level One Bancorp in Farmington Hills, Mich., has a new president. The $2.6 billion-asset company said in a press release
Hancock Whitney in New Orleans eliminated 200 jobs and will close 18 branches.The $35.1 billion-asset company said in a press
Cambridge Savings Bank in Boston has created a digital-only bank.The $5 billion-asset mutual bank said in a press release that
Equity Bancshares in Wichita, Kan., will enter the St. Joseph, Mo., market after buying three branches from Valley View Financial
Spencer Savings Bank in Elmwood Park, N.J., has agreed to buy Mariner’s Bank in Edgewater, N.J.The $3.6 billion-asset Spencer said
LendingClub will pay $18 million to settle a longstanding dispute with the Federal Trade Commission over allegedly hidden fees.The San
United Community Banks in Greenville, S.C., will enter central Tennessee with an agreement to buy Reliant Bancorp in Brentwood.The $18.6
Blue Ridge Bankshares in Charlottesville, Va., has agreed to buy FVCBankcorp in Fairfax, Va. The $3.2 billion-asset Blue Ridge said
First Republic Bank in San Francisco now has two CEOs.The $161 billion-asset bank said in a press release Monday that
F.N.B. Corp. in Pittsburgh has agreed to buy Howard Bancorp in Baltimore. The $38 billion-asset F.N.B. said in a press release
RBB Bancorp in Los Angeles has agreed to buy a branch in Honolulu from Bank of the Orient. The $3.7
S&T Bancorp in Indiana, Pa., will soon have a new leader. The $9.3 billion-asset company said in a press release
Lakeland Bancorp in Oak Ridge, N.J., has agreed to buy 1st Constitution Bancorp in Cranbury, N.J.The $7.8 billion-asset Lakeland said
Bank of New York Mellon in New York has agreed to buy Milestone Group, a company that provides fund management
Heritage Commerce in San Jose, Calif., has set aside $4 million to cover a legal settlement.The $5 billion-asset company said
The CEO of United Bancorp. in Atmore, Ala., has retired. The $949 million-asset company said in a press release Wednesday
Ray Grace has retired as North Carolina’s commissioner of banks.Gov. Roy Cooper announced in a recent press release that he
Codorus Valley Bancorp in York, Pa., is facing calls from an activist investor to find a buyer. Driver Management in New
Select Bancorp in Dunn, N.C., decided early on to deal exclusively with First Bancorp in Southern Pines, N.C., according to
First Bancorp in Southern Pines, N.C., has sold its insurance business. The $7.7 billion-asset company disclosed in a regulatory filing Friday
The Loan Source has acquired more Paycheck Protection Program loans.Blue Ridge Bankshares in Charlottesville, Va., disclosed in a regulatory filing
CF Bankshares in Columbus, Ohio, is winding down its direct-to-consumer mortgage business.The $1.6 billion-asset parent of CFBank said in a press
Community Bank System in DeWitt, N.Y., has bought a company that provides consulting services tied to retirement plans and benefits.The
German American Bancorp will have a new CEO next year. The $5.2 billion-asset company said in a press release Thursday that
A group in Moultrie, Ga., is looking to form a bank. Organizers of the proposed Moultrie Bank & Trust filed
Live Oak Bancshares in Wilmington, N.C., has hired the former chief financial officer at First Horizon to fill the same
Mid Penn Bancorp in Millersburg, Pa., has agreed to buy Riverview Financial in Harrisburg, Pa.The $3 billion-asset Mid Penn said
Trustmark in Jackson, Miss., is the latest bank to sell Paycheck Protection Program loans to The Loan Source.The $16.9 billion-asset
Midland States Bancorp in Effingham, Ill., will report an after-tax gain of $2.9 million in the second quarter after settling
Valley National Bancorp in New York is expanding to the north with an agreement to buy Westchester Bank Holding in
Dime Community Bancshares in Hauppauge, N.Y., plans to close five New York branches.The $13 billion-asset company said in a press
Chemung Financial in Elmira, N.Y., disclosed that its bank had entered into a consent order with the New York State
Community State Bank in Avilla, Ind., will soon have a new CEO.The $347 million-asset bank said in a press release
FineMark Holdings in Fort Myers, Fla., has raised $82.5 million from a private placement.The $2.9 billion-asset parent of FineMark National
Apollo Bank in Miami, which tried unsuccessfully to sell itself to a credit union, has formed a residential lending division.
Fentura Financial in Fenton, Mich., has agreed to buy Farmers State Bank in Munith, Mich.The $1.3 billion-asset Fentura said in
JPMorgan Chase has agreed to buy OpenInvest, a San Francisco fintech that helps financial professionals customize and report on values-based
Dime Community Bancshares in Hauppauge, N.Y., has sold a block of Paycheck Protection Program loans to The Loan Source.The $13
Amerant Bancorp in Coral Gables, Fla., has invested $2.5 million in a robo adviser.Marstone in New York said it raised
Rita Lowman, whose bank is being sold to a credit union, has resigned from the board of the American Bankers
TS Banking Group in Treynor, Iowa, has agreed to buy State Bank of Arcadia in Wisconsin.The $1.5 billion-asset TS Banking
A Chicago company that provides AI solutions for lenders is looking to form a digital-only bank.Organizers of the proposed Beta
Popular in San Juan, Puerto Rico, has added a fintech expert to its board. The $67 billion-asset company said in
First Internet Bancorp in Fishers, Ind., will soon have a new president.The $4.2 billion-asset company said in a press release
Columbia Banking System in Tacoma, Wash., will enter California with its pending purchase of Bank of Commerce Holdings in Sacramento. The
The parent company of Cross River Bank in Fort Lee, N.J., has acquired a data and risk analytics firm.CRB Group
Farmers National Banc in Canfield, Ohio, has agreed to buy Cortland Bancorp in Cortland, Ohio.The $3.3 billion-asset Farmers National said
Fifth Third Bancorp in Cincinnati has agreed to buy Provide, a digital platform for health care practices.The $207 billion-asset Fifth
Nicolet Bankshares in Green Bay, Wis., has agreed to buy County Bancorp in Manitowoc, Wis.The $4.5 billion-asset Nicolet said in
First Commonwealth Financial in Indiana, Pa., has created an equipment finance division.The $9.4 billion-asset company said in a recent press
Middlefield Banc Corp. in Middlefield, Ohio, is looking for a new leader. The company said in a press release Friday that
RCB Holding in Claremore, Okla., has agreed to buy Oklahoma State Bancshares in Vinita.The $3.7 billion-asset RCB said in a
Columbia Financial in Fair Lawn, N.J., has agreed to buy Freehold Bancorp in Freehold, N.J. The $9 billion-asset Columbia said
Cross River Bank in Fort Lee, N.J., has formed a venture capital division to invest in fintechs and other startups.The
Sunnyside Bancorp in Irvington, N.Y., has terminated an agreement to be sold to a Florida real estate firm to instead
Equity Banchshares in Wichita, Kan., didn’t waste time getting the S-4 out for its pending acquisition of American State Bancshares
Organizers in Arizona have applied to form a Integro Bancorp in Phoenix.The group submitted an application with the Federal Deposit
Lake Michigan Credit Union in Grand Rapids, Mich., is doubling down in Florida with an agreement to buy Pilot Bank
Primis Financial in Charlottesville, Va., has added a prominent bank investor to its board. The $3.3 billion-asset company said in
The Federal Reserve has freed SunTrust Bank from a November 2019 consent order it handed down before approving the bank's
Let's take a look at some of the behind-the-scenes action for Bank of Marin Bancorp's pending purchase of American River
HomeTrust Bancshares in Asheville, N.C., plans to close nine branches in three states as part of a broader efficiency effort.
Pinnacle Financial Partners in Nashville, Tenn., will enter Huntsville, Ala., after hiring nine former bankers from BBVA USA.The $35 billion-asset
Cornerstone Home Lending in Houston has agreed to buy Roscoe State Bank in Texas.Cornerstone did not disclose the price it
We're trying a new format to make content about a merger's background easier to digest. Rather than provide a lengthy
Brookline Bancorp in Boston is shaking up several top executive posts.The $8.6 billion-asset company said in a press release Monday
CrossFirst Bankshares in Leawood, Kan., will enter Phoenix after hiring a former CIT Group banker.The $6 billion-asset company said in
Organizers in western North Carolina have received conditional approval to open a bank. The Federal Deposit Insurance Corp. on June 1
Square has made a multimillion investment in Southern Bancorp in Arkadelphia, Ark.Square said in a press release Thursday that it
CB Financial Services in Washington, Pa., has agreed to sell two branches to Citizens Financial in Elkins, W.Va. The $1.5
A group is looking to form a bank in Ft. Myers, Fla.Organizers of Gulf Coast Business Bank filed an application
Community Savings Bancorp in Caldwell, Ohio, has agreed to be sold to an entity owned by former Pacific Union Financial
PDL Community Bancorp in New York expects to record a pretax gain of $4.2 million after completing a sale-leaseback transaction.The $1.4
Regions Financial in Birmingham, Ala., has agreed to buy EnerBank USA, a home improvement lender based in Salt Lake City.
The biggest shareholder at FB Financial in Nashville, Tenn., is selling a large block of stock. The $11.9 billion-asset company
Independent Bank in Hanover, Mass., initially balked at making an offer for Meridian Bancorp in Peabody, Mass. The $13.8 billion-asset Independent, when
HBT Financial in Bloomington, Ill., has agreed to buy NXT Bancorp. in Cedar Rapids, Iowa. The $3.9 billion-asset HBT said in
Keefe, Bruyette & Woods has a new director of research. The New York investment bank, which is part of Stifel Financial,
Simmons First National in Pine Bluff, Ark., has agreed to buy Landmark Community Bank in Collierville, Tenn., and Triumph Bancshares
Oconee Financial in Watkinsville, Ga., has agreed to buy Elberton Federal Savings and Loan Association in Elberton, Ga. The $520
German American Bancorp in Jasper, Ind., has agreed to sell two branches in Lexington, Ky. The $5.2 billion-asset company disclosed in
Liberty Financial Services in New Orleans has agreed to buy Tri-State Bank of Memphis in Tennessee in a deal involving
United Bankshares in Charleston, W.Va., has agreed to buy Community Bankers Trust in Richmond, Va.The $27 billion-asset United said in
First Foundation in Dallas is moving into Florida with an agreement to buy TGR Financial in Naples.The $7.1 billion-asset First
First Bancorp in Southern Pines, N.C., has agreed to buy Select Bancorp in Dunn, N.C. The $7.7 billion-asset First Bancorp
Old National Bancorp in Evansville, Ind., has agreed to buy First Midwest Bancorp in Chicago. The $23.7 billion-asset Old National said
A wave of large bank mergers has lifted aggregate deal value for 2021 above last year's levels.The overall value for
People's Bank of Commerce in Medford, Ore., is one step closer to forming a holding company.Shareholders of the $808 million-asset
United Community Banks in Blairsville, Ga., has agreed to buy Aquesta Financial Holdings in Cornelius, N.C. The $18.6 billion-asset United
HSBC Holdings is selling a majority of its U.S. branches to Citizens Financial Group in Providence, R.I., and Cathay General
GreenState Credit Union in North Liberty, Iowa, has agreed to buy banks in Illinois and Nebraska. The $7.5 billion-asset credit union
RBB Bancorp in Los Angeles has separated its chairman and CEO positions. The $3.7 billion-asset company said in a press
Horizon Bancorp in Michigan City has agreed to buy 14 Michigan branches from TCF Financial in Detroit. TCF will sell the
NorthWest Indiana Bancorp in Munster, Ind., has taken on a new identity. The $1.6 billion-asset company said in a press release
Veteran banker George Jones passed away on Friday.Jones, 77, had been dealing with a “long illness,” according to an obituary
Customers Bancorp in Wyomissing, Pa., is planning to launch a closed-loop real-time payments platform. The $18.8 billion-asset company said in
First Community in Lexington, S.C., has added a veteran banker to its board. The $1.5 billion-asset company said in a press
Enterprise Financial Services in Clayton, Mo., had an advocate when it decided to pursue First Choice Bancorp in Cerritos, Calif.,
Glacier Bancorp in Kalispell, Mont., has agreed to buy Altabancorp in American Fork, Utah. The $19.8 billion-asset Glacier said in a
Legacy Bank of Florida in Boca Raton delayed plans to sell itself for nearly a year as it responded to
Berkshire Hills Bancorp in Boston has created a three-year plan to improve investor returns. The $12.8 billion-asset company, in a
Several bank analysts have changed jobs in recent weeks.Matthew Kelley shared on his LinkedIn profile that he had been hired
Equity Bancshares in Wichita, Kan., is bolstering operations in its home state with an agreement to buy American State Bancshares
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