Kraken Financial in Cheyenne, Wyo., has become the first digital asset bank to gain a Federal Reserve master account. Payward, the company behind Kraken Financial, said in a press release that, through its Fed master account, Kraken can connect directly to core U.S. payment rails, including Fedwire, without relying on intermediary banks. Kraken, a Wyoming-chartered Special Purpose Depository Institution (SPDI), will begin with a phased rollout, initially focused on facilitating

First Commercial Bank in Seguin, Texas, has a new leader. The $530 million-asset bank said in a LinkedIn post that James Long had become its CEO. Long, who has been the bank's president, succeeded Mark Long, who was named chairman. Doug Miller was named vice chairman, while Mark Williams became chairman emeritus. "With this leadership transition, FCB is well positioned for continued growth while staying true to its core values

Franklin Bank in Pilesgrove, N.J., will soon have a new leader. The bank said in a LinkedIn post that Mark Kelty will become its president and CEO on April 1. Kelty, the bank's chief commercial lending officer, will succeed Mark Edwards, who is retiring. "The board looks forward to Incoming President Kelty’s leadership and industry knowledge, which they are confident will advance Franklin’s ability to service the financial needs of

Miami Savings Bank in Miamitown, Ohio, has agreed to absorb New Foundation Savings Bank Corp. in Cincinnati. The $133 million-asset Miami Savings said in a press release that it expects to bring on the $18 million-asset New Foundation in the second quarter. "Miami Savings and New Foundation have a similar legacy of providing our communities ... with excellent customer service for over 115 years," Derrick Taylor, Miami Savings' president and

Civista Bancshares in Sandusky, Ohio, will have a new CEO later this year. The $4.3 billion-asset company said in a press release that Chuck Parcher will also become president when Dennis Shaffer retires on Aug. 28. Parcher is president of Civista Bank. Shaffer will remain chairman. “It has been an incredible honor to serve this organization and the communities we support,” Shaffer said in the release. “I believe Civista is in

Bridgewater Bancshares in St. Louis Park, Minn., could sell up to $50 million in common stock over time. The company disclosed in a regulatory filing that it hired Piper Sandler to oversee an at-the-market offering program. Under the program, Bridgewater could sell shares from time to time at prevailing market prices. Piper Sandler will receive a commission of 2.5% of the gross sales price of any shares sold under the

Edward Jones has received regulatory approval to form Edward Jones Bank. The Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions signed off on the brokerage's request for an industrial loan charter. Edward Jones Bank will allow the firm to expand its reserve line of credit portfolio nationwide. The bank will also take deposits, including plans to offer CDs to clients. "This approval marks an exciting moment in

Morgan Stanley in New York has applied to the Office of the Comptroller of the Currency for a national trust bank charter. The investment bank has proposed forming Morgan Stanley Digital Trust to offer custody and related services for cryptocurrencies and other digital instruments. The trust bank is not seeking deposit insurance. The proposed trust bank would support Morgan Stanley’s wealth management division, which serves individual investors, small- and midsize businesses and