WSFS Financial in Wilmington, Del., reported slightly higher earnings despite an issue with a former client. The $20.8 billion-asset company said in a press release that its fourth-quarter net income rose by 0.5% from a year earlier, to $64.2 million. WSFS said that it terminated a relationship with a long-standing Cash Connect customer due to "negative events in the client's overall business portfolio." As a result, Cash Connect lost $3.4

Sandy Spring Bancorp in Olney, Md., had to conduct some cleanup ahead of its planned sale to Atlantic Union Bankshares in Richmond, Va. The $14.1 billion-asset Sandy Spring said in a press release that it lost $39.5 million in the fourth quarter after taking a $54.4 million goodwill impairment charge. The charge resulted from the company's annual goodwill impairment test, completed in October, and was based on the terms of

Wells Fargo in San Francisco continues to put its past in the rearview mirror. The $1.9 trillion-asset company said in a press release that it has been released from a 2022 consent order with the Consumer Financial Protection Bureau. The order was tied to automobile lending, consumer deposit accounts, and mortgage lending. Wells said this is the seventh consent order closed by its regulators since 2019. "Apparently – and thankfully

HomeTrust Bancshares in Asheville, N.C., has agreed to sell two branches in Knoxville, Tenn., to Apex Bank in Camden, Tenn. The $4.6  billion-asset HomeTrust said in a press release that the branches have about $42 million in deposits. HomeTrust plans to keep all the loans tied to the locations. The deal is expected to close in the second quarter. "This transaction aligns with our strategic plan to tighten our geographic

Norwood Financial in Honesdale, Pa., which raised $30 million in December, reported a net loss in the fourth quarter after selling underwater securities. The $2.3 billion-asset company said in a press release that it lost $12.7 million in the quarter. The results included a $20 million hit from repositioning its securities portfolio. The move allowed Norward to focus on improved yields in future quarters. "We believe the portfolio is better

MutualOne Bank in Framingham, Mass., has a new leader. The bank said in a press release that Kristin Carvalho had become its CEO. Carvalho, who was president and chief operating officer, succeeded Mark Haranas, who will remain chairman. Carvalho will remain president.

Fulton Financial in Lancaster, Pa., will close 15 branches in the coming months. Seven of the branches are in Pennsylvania, while the rest are out-of-state locations, a spokesman told WHTM. The first branches will close in mid-April. Fulton has more than 230 branches.

Midland States Bancorp in Effingham, Ill., reported a quarterly loss after stepping up efforts to distance itself from two lending arrangements. The $7.5 billion-asset company said in a press release that it lost $54.8 million in the fourth quarter. The loss included a $50.7 million loan-loss provision tied to the sale of its LendingPoint consumer loan portfolio and a plan to sell its Greensky portfolio. The company sold $87.1 million