Clear Fork Bank in Albany, Texas, has its next CEO lined up. The $1 billion-asset bank said in a LinkedIn post that James Arnold will also become its president on June 1. Arnold, who was president and CEO of First Bank & Trust/UMB Bank in Lubbock, Texas, will succeed Tim Cooper, who will remain chairman. “Clear Fork Bank is built on strong relationships, sound leadership, and a deep commitment to

BCB Bancorp in Bayonne, N.J., parted ways with its CEO. The company disclosed in a regulatory filing that Michael Shriner had also stepped down as president and left the board. Ryan Blake, who is the chief operating officer, was named interim president and CEO.

Hometown Community Bancorp in Morton, Ill., has agreed to buy Manhattan Bancshares in Manhattan, Ill. Hometown, the holding company for Morton Community Bank, said in a press release that it plans to buy the parent of First Bank of Manhattan and New Lenox in the fourth quarter. The price wasn't disclosed. “We are excited to continue to expand first-class banking services for businesses and consumers in the Lincoln-Way area," Andy Honegger,

Former Rep. Barney Frank, the Massachusetts Democrat who helped create the rules that reshaped modern banking regulation after the 2008 financial crisis, had died. Frank, who was 86, served in Congress for 32 years. As chairman of the House Financial Services Committee during the financial crisis and its aftermath, he worked with former Sen. Chris Dodd to author the 2010 Dodd-Frank Act. The law introduced sweeping reforms that expanded oversight

Community Heritage Financial in Middletown, Md., has sold underperforming securities. The company said in a press release that it sold lower-yielding securities with a $73.3 million book value at a $3.9 million after-tax loss. The company plans to use the net proceeds to buy higher-yielding securities, with a projected earnback period between three and four years. The bank's regulatory capital will decline by about $3.9 million as a result of

Bank First in Manitowoc, Wis., has agreed to buy PSB Holdings in Wausau, Wis. The $6.1 billion-asset Bank First said in a press release that it will pay $202.9 million in stock for the parent of the $1.5 billion-asset Peoples State Bank. The deal is expected to close in the fourth quarter. The acquisition "brings together two organizations that believe deeply in relationship-based banking and the role community banks play

Houston Bank & Trust has opened after receiving full regulatory approval. The organizers said in a LinkedIn post that they have opened a temporary office. The group had to raise $35 million in capital to satisfy the Federal Deposit Insurance Corp. The group first applied with the FDIC in February 2022 to form Houston Bank of Commerce & Trust, reapplying in May 2023. In March 2024, the group shortened the proposed

Preferred Bank in Los Angeles delivered some early positive news for its second quarter. The bank said in a press release that it entered into a settlement agreement on a previously charged-off C&I loan. The agreement calls for the bank to receive a total of $5.7 million over an 11-month period. The chargeoff was recorded two years ago.