Gesa Credit Union in Richland, Wash., has created a digital bank for military veterans. The credit union said in a press release that it worked with Nymbus to launch ValorFI Heroes. The platform is also available to educators, healthcare workers, first responders, and law enforcement officers. The platform offers savings accounts, money market accounts and CDs supported by a mobile app and Visa debit cards. Users can also make charitable

Employer.com, a human resources firm, bought Bench Accounting days after the fintech's shutdown. Employer.com said in a press release that the acquisition reflects a commitment to expanding its portfolio of services and adding value to small business owners. Financial terms were not disclosed. The deal closed on Jan. 1 on the heels of Bench's Dec. 28 decision to suspend operations. Employer.com said the deal means that the fintech's customers will

Patriot National Bancorp in Stamford, Conn., has hired Steven Sugarman as its president. The company, which had recently announced a plan to evaluate its strategic options, disclosed in a regulatory filing that Sugarman had taken on the role, effective immediately. Sugarman "is well suited to successfully lead the company’s strategic restructuring," the filing said. "This includes the company’s efforts to raise capital, enhance the strategic plan, ensure regulatory compliance, attract

Hawaiian Electric Industries sold a 90.1% stake in American Savings Bank in Honolulu to a group of investors. The stake in the $9.3 billion-asset bank was sold for $405 million in cash. Hawaiian Electric said in a press release that it retained a 9.9% stake. The bank will continue to be led by its management team. “The sale allows HEI to enhance our focus on the utility as we work

Taylor Bank in Berlin, Md., has a new CEO. The $1 billion-asset bank said in a post on its website that Dean Lewis had also become its president. Lewis, who was the bank's chief financial officer, succeeded Ray Thompson, who had held both roles for the past 16 years. Lewis joined the bank in 2012. “Our bank's success during my time here is the result of the collective effort, dedication,

Community Bancorp in Derby, Vt., has a new CEO. The company said in a press release that Christopher Caldwell will also become its president on Jan. 1. Caldwell, who is a president of Community Bancorp's bank, will succeed Kathy Austin, who will remain on the board. Caldwell joined the company in 2021.

Atlanta Postal Credit Union and Affinity Bank in Covington, Ga., have called off their planned merger. The credit union agreed in May to buy the $870 million-asset bank unit of Affinity Bancshares for $22.50 a share in cash in a deal that was expected to close by the first quarter of 2025. The boards of both parties agreed to the terminate the deal after the credit union held discussions with

Zeal Credit Union in Livonia, Mich., has agreed to buy Gegebic Range Bank in Ironwood, Mich. The $839 million-asset Zeal said in a press release that it will pay an undisclosed amount of cash to West End Financial. The deal is expected to close in the third quarter. “Gogebic is a well-managed bank, and we look forward to welcoming their customers and employees into our family,” Zeal President and CEO Julie