A Chicago company that provides AI solutions for lenders is looking to form a digital-only bank.Organizers of the proposed Beta Bank submitted an application on Monday with the Federal Deposit Insurance Corp. for deposit insurance. The bank would operate as a subsidiary of Beta Financial Services, according to the application. Beta Financial plans to apply with the Federal Reserve to become a bank holding company.Beta Bank would focus on small and midsize businesses,

Popular in San Juan, Puerto Rico, has added a fintech expert to its board. The $67 billion-asset company said in a press release Friday that Betty DiVita had become a director. DeVita is chief business officer and a director at FinConecta, a technology firm focused on the digitalization of finance and open banking. She is also the founder and CEO of BetdevSolutions, a fintech advisory firm, according to her LinkedIn profile.DeVita

First Internet Bancorp in Fishers, Ind., will soon have a new president.The $4.2 billion-asset company said in a press release Thursday that Nicole Lorch will remain chief operating officer when she adds the new title on June 30. Lorch will succeed David Becker, who will remain chairman and CEO. She will also serve as president and COO of First Internet Bank.Lorch "has been an important member of the leadership team, contributing significantly

Columbia Banking System in Tacoma, Wash., will enter California with its pending purchase of Bank of Commerce Holdings in Sacramento. The $17.3 billion-asset Columbia said in a press release Wednesday that it will pay $265.6 million in stock for the $1.8 billion-asset parent of Merchants Bank of Commerce. The deal is expected to close in the fourth quarter. Bank of Commerce has 12 branches, $1.1 billion of loans and $1.6 billion of

The parent company of Cross River Bank in Fort Lee, N.J., has acquired a data and risk analytics firm.CRB Group said in a press release Wednesday that it bought Synthetic P2P Holdings, which operates as PeerIQ. The company helps fintechs and banks analyze, assess and manage risk in the lending sector.CRB, which did not disclose the price it paid, said the acquisition will build on the $13.5 billion-asset Cross River’s

Farmers National Banc in Canfield, Ohio, has agreed to buy Cortland Bancorp in Cortland, Ohio.The $3.3 billion-asset Farmers National said in a press release Wednesday that it will pay $124 million in cash and stock for the $792 million-asset Cortland. The deal, which is expected to close in the fourth quarter, priced Cortland at 153% of its tangible book value. Cortland has 13 branches, $519 million of loans and $680 million

Fifth Third Bancorp in Cincinnati has agreed to buy Provide, a digital platform for health care practices.The $207 billion-asset Fifth Third said the acquisition will add capabilities to address complex lending and banking needs for retail health care providers. Fifth Third did not disclose the price it will pay. “Over the last decade, Fifth Third’s health care team has expanded its presence and expertise to become one of the top

Nicolet Bankshares in Green Bay, Wis., has agreed to buy County Bancorp in Manitowoc, Wis.The $4.5 billion-asset Nicolet said in a press release Tuesday that it will pay $219 million in cash and stock for the $1.5 billion-asset parent of Investors Community Bank. The deal, which is expected to close in the fourth quarter, priced County at 138% of its tangible book value. Nicolet has been acquisitive lately, agreeing in