Adams Community Bank in Adams, Mass., and Pittsfield Cooperative Bank in Pittsfield, Mass., are planning to merge. The mutuals said in a press release that they will create a $1.5 billion-asset institution with 15 branches that will operate under Adams Community's mutual holding company. Pittsfield Cooperative has $430 million of assets, while Adams Community has $1 billion of assets. “This milestone marks an important step forward for both of our institutions," Julie

Five Rivers Bank in Paramus, N.J., has a new CEO. The bank said in a press release that Thomas Coughlin had also become its president. Coughlin founded Bayonne Community Bank in New Jersey in 2000 and built it to $3.8 billion of assets when it he ended his tenure. He will succeed C. Mark Campbell. "Tom embodies what Five Rivers Bank stands for," Campbell said in the release. "He's a

Lorum has joined a fast-growing list of companies applying for a national trust charter. The multicurrency clearing and cash management platform applied to the Office of the Comptroller of the Currency on March 31 to create Lorum National Trust Bank. The charter would allow Lorum to seek a Federal Reserve account. That, in turn, would allow it to expand its fiduciary services offerings. Lorum is in the process of moving

Mt. McKinley Bank in Fairbanks, Alaska, has a new leader. The $640.7 million-asset bank said in a LinkedIn post that David Durham had become its president and CEO. "David brings a strong vision for the future and a deep commitment to the communities we serve," the post said. "Under his leadership, the bank will continue to grow while staying true to our values and mission." Durham was chief credit administrator.

A large group of banking associations is petitioning the Federal Deposit Insurance Corp. to reconsider its decision to approve deposit insurance for Edward Jones. The FDIC gave the brokerage firm conditional approval in February. Edward Jones reapplied for an industrial loan charter in April 2025, resuming an effort it abandoned in late 2022. The Independent Community Bankers of America, along with 38 state banking associations, sent a letter to the

Coinbase received conditional approval for a national trust charter from the Office of the Comptroller of the Currency. The approval "is the result of years of investment in compliance, engagement with regulators, and belief that the right path forward for crypto is through the system — not around it,” Greg Tusar, co-CEO of Coinbase Institutional, wrote in a note posted on the company's website. “Let me be direct about what

Community Bank Owatonna in Minnesota has a new CEO. The $98.4 million-asset bank said that Derek Skala had also become its president. Skala was vice president of credit, risk and business development at Central Farm Service. Skala “has built his banking career through progressive leadership roles with experience in credit administration and relationship management, along with a strong specialization in agricultural banking,” the bank said. “Derek also brings experience in

Bruce Jensen is again looking to lead a de novo bank in Utah. Jensen is the proposed CEO of Bank of St. George, which recently applied to the Federal Deposit Insurance Corp. He was also set to lead a bank with the same name that received conditional FDIC approval in 2019 but ultimately did not open. The latest iteration of the bank would be completely funded by Fred Lampropoulos, who