The owners of Grand Marais State Bank in Grand Marais, Minn., and CenBank in Buffalo Lake, Minn., are merging the banks. The group said in a press release that it expects to merge the $81.3 million-asset CenBank into the $117.6 million-asset Grand Marais in the first quarter. Grand Marais will have five branches when the merger is complete. "This merger provides Grand Marais ... an opportunity for significant growth and

Sound Financial Bancorp in Seattle has a new president. The $1.1 billion-asset said in a press release that Wes Ochs will take on the role on Oct. 1. Ochs, who is the chief financial officer, will succeed Laurie Stewart, who remains CEO.

Axos Financial in San Diego has agreed to buy equipment leasing company Verdant Commercial Capital. The $24.8 billion-asset Axos said in a press release that it expects to pay $43.5 million for Verdant, which had about $1.1 billion of loans and leases on its balance sheet as of Aug. 31, including $750 million of securitizations. The deal is expected to close on Sept. 30. Verdant can earn performance-based cash considerations

Anchorage Digital Bank has applied for a Fed master account. The cryptocurrency custody bank applied on Aug. 28, according to the Fed's database. The application comes on the heels of the Office of the Comptroller of the Currency terminating a 2022 consent order against Anchorage Digital Bank tied to a past “failure to adopt and implement a compliance program” in accordance with anti-money laundering standards. The OCC lifted the order

Legacy Bank in Murrieta, Calif., has a new leader. The $90.7 million-asset bank said in a press release that Bill Nethercott became its CEO late last month. Nethercott was a senior vice president and relationship manager at Farmers & Merchants Bank of Long Beach, according to his LinkedIn profile.

The Office of the Comptroller of the Currency announced a sweeping overhaul of its supervision structure, creating three distinct tiers and updating the organization of the Office of the Chief National Bank Examiner. Under the new framework, which will take effect Oct. 1, the OCC will replace its Bank Supervision and Examination group with groups focused on large and global financial institutions, regional and midsize financial institutions, and community banks.

Southside Bancshares in Tyler, Texas, will have a new leader in 2026. The company disclosed in a regulatory filing that Keith Donahoe will succeed Lee Gibson when Gibson retires on Dec. 31. Gibson will remain on the board. Donahoe has been the company's president since May 2024. He joined the bank in 2021.

Atlantic Union Bankshares in Richmond, Va., has enhanced its community impact plan. The company said in a press release that the updated plan, which reflects its purchase of Sandy Spring Bank in Maryland, will add about $2.2 billion of planned new lending, investments, and philanthropy commitments. The plan was developed in collaboration with the National Community Reinvestment Coalition after listening sessions with more than 47 community groups. Atlantic Union also