Huntington Bancshares in Columbus, Ohio, is moving ahead with succession planning. The $284 billion-asset company said in a press release that Brant Standridge had become its president. Steve Steinour remains chairman and CEO. Standridge was president of consumer and business banking. Steinour noted in the release that he plans to remain the company's leader "for several more years." "Brant is an exceptional leader with deep banking experience, strong operating discipline

QNB Corp. in Quakertown, Pa., restructured its securities portfolio. The company said in a press release that it sold $254.4 million of low-yielding securities and unwound $162 million of pay-fixed swaps, resulting in a net pretax loss of $26.2 million. The securities sold represented about 46.8% of QNB's entire portfolio. Net proceeds will be used to buy higher-yielding securities and to fund loan growth. It should take about four years

John Marshall Bancorp in Reston, Va., has agreed to buy Eagle Financial Services in Berryville, Va. The $2.4 billion-asset John Marshall said in a press release that it will pay $253 million in stock for the $1.8 billion-asset parent of the Bank of Clarke. The deal, which is expected to close in the first quarter, priced Eagle at 130% of its tangible book value. “Bank of Clarke has spent nearly

Brazilian neobank Stark Bank has applied for a U.S. national bank charter, adding another name to the growing list of fintechs seeking their own U.S. bank licenses this year. The application seeks approval to organize Stark Bank as an insured national bank based in the Miami area, with a back-office administrative location near Orlando. Neither site would be open to the public. Stark Bank already provides API-powered banking and corporate

Baker Boyer in Walla Walla, Wash., has completed its four-year CEO succession plan. The bank said in a press release that Kip Kontos had become its president and CEO. Kontos, who was director of regional offices and secretary, succeeded Mark Kajita, who retired and stepped down from the board. “Baker Boyer’s strength has always come from its people, its values, and its deep relationships with the communities it serves,” Megan

MidCountry Bank in Bloomington, Minn., has a new leader. The $1.1 billion-asset bank said in a press release that Jim Loe had become its president and CEO. Loe, who previously served as the president and CEO of Community Resource Bank, succeeded Steve Meads, who is retiring at the end of this year. “Jim is an accomplished industry leader who understands the importance of building strong relationships with customers, area businesses,

A group is planning to form a bank in Texas. Organizers of Texas Patriot Bank applied to open the proposed bank in Frisco, Stan Pinkham wrote in a LinkedIn post. Pinkham would serve as the proposed bank's CEO. "I'm truly blessed that God has given me this opportunity and want to thank the organizers and board for their trust and confidence," Pinkham wrote. " More to come as we progress

The Federal Reserve Board terminated a two-year-old enforcement action against United Texas Bank in Dallas. The original cease-and-desist order, issued in September 2024, stemmed from a May 2023 exam that found "significant deficiencies" in the $1.1 billion-asset bank's risk management tied to foreign correspondent banking and virtual currency customers. The C&D also cited concerns tied to anti-money-laundering controls. The bank earlier this year switched to a national charter and oversight