Republic Bancorp in Louisville, Ky., reported lower quarterly profit after losing a big tax provider contract. The $7.3 billion-asset company said in a press release that its first-quarter earnings fell by 10% from a year earlier, to $42.6 million. Republic reported a nearly $10 million decrease in revenue in its tax refund solutions business that largely reflected the nonrenewal of a large tax provider contract. The company also had a

First Citizens BancShares in Raleigh, N.C., will rebrand several businesses it gained from recent acquisitions. The $225 billion-asset company said in a press release that Silicon Valley Bank will become First Citizens Innovation Banking and First Citizens Fund Banking. CIT Commercial Services and the Silicon Valley Bank Wine division will rebrand as First Citizens Bank. The changes will occur in the fourth quarter. "Following our acquisitions ... our clients have

Axos Financial in Las Vegas has agreed to buy a book of individual retirement accounts from Capital One Financial in McLean, Va. Axos said in a regulatory filing that the IRAs have an aggregate balance of about $3.2 billion deposited into associated savings accounts and CDs, along with certain assets and liabilities. The deal is expected to close by the end of this year. Axos will receive cash for the

Pioneer Bancorp in Albany, N.Y., bought two employee benefits businesses. The $2 billion-asset company said in a press release that it bought Reiser Consulting Group in Albany and Wyndham Benefits in Ballston Spa, N.Y. The acquisitions doubled the size of Pioneer’s employee benefits division. Prices were not disclosed. “We’re excited to welcome Theresa Reiser and Chris Goodness to Pioneer as we strategically expand our Employee Benefits division,” Tom Amell, Pioneer's

KeyCorp in Cleveland has agreed to buy Clearwater Corporate Finance, a U.K.-based middle market investment banking advisory firm. Key said in a press release that the purchase will mark its entry into Western Europe. The deal is expected to close in the second half of 2026. The price wasn't disclosed. The transaction builds on a multiyear partnership that KeyBanc Capital Markets and Clearwater began in 2020. "Years of collaboration ...

A group is looking to form a bank to serve foreign governments and related entities operating in the United States. Shermen Bank International would be based in Washington, according to its LinkedIn page. "Shermen will provide secure and specialized banking services to foreign countries, foreign state-owned enterprises, and multi-laterals operating in the US," the page states.

Paige, a fintech that assists banks with legacy and estate planning services, has secured an investment from 22nd State Bank in Mobile, Ala. Emily Cisek, Paige's CEO, announced the $2.5 million investment on her LinkedIn account. "This wasn't just a financial decision for them," Cisek wrote. The bank invested "because they see what we see: that when a bank shows up for a family at the level Paige makes possible,

American Momentum Bank in College Station, Texas, has a new CEO. Bo Scott also become the $2.8 billion-asset bank's president. He was chief banking officer at Sunflower Bank. "Honored and energized — those are the two words that keep coming to mind as I step into the role," he wrote on his LinkedIn account. "American Momentum has built something genuinely special — a $2.8 billion relationship-driven institution with deep roots