Strategic Insights into Banking & Fintech
Riverside Bank of Dublin in Ohio has a new CEO. The $211 million-asset bank said that it hired Charles Moore as its new leader. Moore, who was CEO of Commodore Bank, succeeded founding CEO Bill Daily.
Technology company nCino bought Sandbox Banking. The company said in a press release that it paid $52.5 million in cash for Sandbox Banking, with an earn-out opportunity of up to $10 million based on financial and product development metrics. The deal is intended to strengthen nCino's Integration Platform as a Service capabilities, including enhanced data connectivity and streamlined operations for financial institutions. The technology includes pre-built adapters for core banking
The BHB Fund in Austin, Texas, has invested in equipifi, a fintech that helps financial institutions develop Buy Now, Pay Later platforms. The fund did not disclose the size of the investment. “As we grow our portfolio of top-tier fintech companies like equipifi, we continue to position community banks at the forefront of industry disruption” Neeraj Vohra, BHB Fund's managing partner, said in a press release. “As the fastest growing,
Eagle Financial Services in Berryville, Va., raised $5o million from selling common stock. The $1.8 billion-asset company completed a public offering on Feb. 6. Eagle plans to use the net proceeds for general corporate purposes that could include continued growth, selling securities to reposition its balance sheet and supporting capital ratios. Keefe, Bruyette & Woods was the bookrunner; D.A. Davidson was the lead manager.
TD Bank Group in Toronto will sell its remaining stake in Charles Schwab. The Canadian company said in a press release that it will divest its 10.1% stake through a registered offering and selling shares back to the brokerage firm. Schwab has agreed to buy $1.5 billion of its shares from TD conditional on the completion of the offering. "As part of our strategic review, we have been evaluating capital
Capital One Financial in McLean, Va., and Discover Financial Services have pushed the deadline for their merger back as they wait for regulatory approvals. Capital One agreed a year ago to buy Discover for $35.3 billion in a deal that was expected to close in early 2025. The companies disclosed in a regulatory filing that they agreed to move the deadline to complete the deal to May 19 since "conditions
Fulton Financial in Lancaster, Pa., has created a capital markets business. The $32.1 billion-asset company said it created the operation after naming Christopher Bigos as head of capital markets. Bigos previously served as a senior vice president of commercial real estate at Fulton. “As our clients continue to grow, we want to be there to provide the solutions they need,” John Glover, the bank's head of commercial banking, said in
First Bancorp in Southern Pines, N.C., has a new bank CEO. The company said in a press release that G. Adam Currie took over the post from Michael Mayer. Currie will remain the bank's president. “This transition is the culmination of a succession plan that has been in place for many years,” Richard Moore, the company's chairman and CEO, said in the release. Currie “has demonstrated his astute knowledge of
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