Pinnacle Bancorp in Omaha, Neb., has agreed to buy Southern Bancshares in Moulton, Texas. The $20.9 billion-asset Pinnacle did not disclose how much it will pay for the parent of the $1.4 billion-asset SouthStar Bank. The deal is expected to close early next year. SouthStar has 17 branches, $1 billion of loans, and $1.1 billion of deposits. David Kapavik, SouthStar's president and CEO, wrote in a letter to clients and

The Office of the Comptroller of the Currency has issued a cease-and-desist order and a $350 million civil money penalty against American Express National Bank for deficiencies in its Bank Secrecy Act and anti-money laundering compliance program. The penalty was set out in an Oct. 8 consent order, in which the bank neither admitted nor denied the findings. The OCC said the Sandy, Utah, bank failed to establish a program

Southern Michigan Bancorp in Coldwater has begun a search for a new CEO. The $1.7 billion-asset company said in a press release that John Waldron also resigned as its president. John Castle, Southern Michigan's chairman, will serve as interim CEO, while Kurt Miller, the vice chairman, is now interim president. Castle stepped down as CEO in June 2024. Miller also stepped down as president at that time. "We appreciate John's

Organizers of the proposed Alba Bank in Houston have received conditional approval from the Federal Deposit Insurance Corp. The group must raise $37 million before the bank can open. Organizers applied to the FDIC in March. A legal notice tied to the application lists five organizers: George Martinez, Richard Figueroa, William Woodby, Gregg Reyes and Thomas Reiser.

First National Bank Alaska in Anchorage will start 2027 with a new leader. The $5.1 billion-asset bank said in a press release that Darren Franz will become president and CEO on Jan. 2. Franz, who is president, lending and administration, will succeed Betsy Lawer, who will transition to executive chair. "Leadership is never about one person. It's about building an organization with the right people, shared values and the courage

Anchorage Digital has acquired payouts platform Routable. Anchorage did not disclose the price it paid for the platform, which helps commercial and enterprise businesses onboard payees, automate compliance, and orchestrate high-volume payouts via a developer-first API. Routable's clients include Veho, Ethos, and Polestar. "We spent nearly a decade earning the trust of crypto natives and the world's largest financial institutions, and knew Big Tech and Fortune 500 companies would follow," Nathan

A former neobank founder is launching a new business to help founder-led fintechs. Cam & Bow, created by Amber Buker, will focus on early-stage companies with eight to 25 employees and institutional capital secured. The goal is to handle responsibilities such as investor pipeline and diligence, bank and vendor follow-up, hiring, and company administration. Buker created Totem Technologies, a neobank that raised more than $4 million and managed 30-plus banking and fintech

A group is looking to form a de novo bank near Nashville, Tenn. Mark Minish posted on LinkedIn that he is leading the group behind Virtus Bank, which would be based in Williamson County. "We are building the organizing group and the senior management team that will take the institution through chartering, capital raising, and opening," he wrote in the post. "To be an organizer, you need to be a