Northeast Bank in Portland, Maine, is planning to ramp up efforts to offer traditional Small Business Administration loans to small businesses that participated in the Paycheck Protection Program.The $2.2 billion-asset bank disclosed in a regulatory filing that it has reached a five-year agreement with United Operations and AmLoan to market 7(a) loans to PPP participants. United will provide the marketing and servicing, while Northeast will underwrite and fund any approved

New York Community Bancorp in Westbury is planning to work with Figure Technologies on a series of blockchain projects.The $57.5 billion-asset New York Community said in a press release Monday that it expects to use Figure’s Provenance Blockchain to support financial inclusion, lower costs and complexity in its mortgage business and support a faster and less expensive payments system.New York Community said it will make a direct equity investment in

Sens. John Hickenlooper, D-Colo., and Sens. Tim Scott, R-SC, have introduced a bill that would lift the moratorium on issuing new Small Business Lending Company licenses and allow fintechs to participate in the Small Business Administration’s 7(a) program.Fintechs were given their first access to SBA lending as part of the Paycheck Protection Program."Our bipartisan bill will modernize the SBA’s primary loan program to help underserved small businesses grow and thrive,”

Amalgamated Financial in New York has added a former banker to its board.The $6.6 billion-asset company said in a press release that Darrell Jackson is its newest director. Jackson is president and CEO of The Efficace Group, an executive coaching business.“We are thrilled to welcome Darrell as a valuable member of our team,” Lynne Fox, Amalgamated’s chairman, said in the release.“We firmly believe that his demonstrated expertise and leadership across

Triad Business Bank, a Greensboro, N.C. de novo that opened last year, has raised $15 million in new capital. The $267 million-asset bank said in a press release this week that it sold 1.5 million shares of stock on Aug. 3 for $10 each as part of an oversubscribed offering. A third of the shares were sold to the bank’s directors and executive officers. Triad Business Bank raised $51 million

Minnwest Bank in Redwood Falls, Minn., has agreed to buy Roundbank in Waseca, Minn.The $2.4 billion-asset Minnwest said in a press release that it expects to complete the purchase of the $385 million-asset Roundbank by the end of this year. The bank did not disclose the price it will pay.The proposed acquisition “represents an exciting opportunity for Minnwest to expand its geographic footprint and customer reach,” Doug Karsky, Minnwest’s president

GreenSky in Atlanta said plans by Truist Financial in Charlotte, N.C., to end a loan origination agreement will not have a material impact on its profitability.The point-of-sale lender disclosed in a regulatory filing Wednesday that it had received notice from the $522 billion-asset Truist a day earlier that the regional bank would terminate the agreement. The termination will be effective on Nov. 9.Truist announced on Tuesday that it plans to

Royal Credit Union in Eau Claire, Wis., has agreed to buy Lake Area Bank in Lindstrom, Minn.The $3.7 billion-asset credit union said in a press release Thursday that it expects to close the deal for the $500 million-asset Lake Area in the first quarter of 2022. Royal did not disclose the price it will pay. “Royal is excited for the opportunity to bring our value proposition and commitment to making