Western Alliance Bancorp. in Phoenix has filed a lawsuit against Jefferies Financial Group and Leucadia Asset Management over $126.4 million in unpaid debt tied to bankrupt auto parts supplier First Brands. Western Alliance said in a press release that it will record a full charge-off in the first quarter after Jefferies failed to make a $42.1 million payment that was due on Feb. 27. The lawsuit, filed in the New

Bradford National Bank in Greenville, Ill., has completed its acquisition of State Bank of St. Jacob in St. Jacob, Ill. The $655.6 million-asset Bradford National said it completed its purchase of the $87.6 million-asset State Bank of St. Jacob on Feb. 28. The price wasn't disclosed. The combined institution is operating as Bradford National Bank.

Revolut has applied for a national bank charter. The U.K. company said in a press release that it applied to the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. to create Revolut Bank US. Cetin Duransoy was named U.S. CEO, succeeding Sid Jajodia, who is now global chief banking officer. "Filing for a national bank charter is a major milestone toward our vision of building the

Add Zero Hash in Chicago to the list of companies applying to the Office of the Comptroller of the Currency for a national trust bank charter. The digital asset infrastructure firm, which operates as Zerohash, wants the charter to expand its role in digital asset custody and settlement services. Zerohash provides crypto infrastructure for banks, brokerages and fintech platforms. Stephen Gardner, Zerohash's chief legal officer, would serve as CEO of

A director at MVB Financial resigned, citing disagreements with other board members over corporate governance, executive compensation, and the Fairmont, W.Va., company’s strategic direction. The company disclosed in a regulatory filing that Glen Herrick resigned on Feb. 26. He chaired the audit committee and was a member of the board’s finance committee. Cheryl Spielman was selected to become the committee's new chair. Herrick, who joined the board in January 2025, wrote

WesBanco in Wheeling, W.Va., offered directors a one-time equity incentive as part of a plan to shrink its board. The company disclosed in a regulatory filing that it offered directors a voluntary retirement opportunity, awarding a one-time equity grant of restricted shares valued at $250,000 to each director who chose to retire. Three directors — Abigail Feinknopf, James Cornelsen, and D. Bruce Know — accepted the offer. Michael Crawford is

Jeff Tengel, the president and CEO of Independent Bank Corp. in Rockland, Mass., informed employees that he has been diagnosed with lymphoma but plans to keep leading the bank while undergoing treatment. Tengel wrote in the letter that he recently began chemotherapy. “I have recently been diagnosed with lymphoma,” Tengel wrote. “It’s not easy news to deliver, but I’m receiving excellent care, and the type of cancer I have is

Emigrant Bancorp in Miami has agreed to buy a majority interest in Fortis Management Group in Boston. Emigrant said in a press release that the acquisition should close in April. The price wasn't disclosed. The acquisition coincides with the launch of Emigrant Family Office, a newly formed business unit designed to deliver a highly specialized, non-investment suite of family office capabilities to ultra-wealthy families and registered investment advisors. Fortis founder