Hancock Whitney in Gulfport, Miss., has agreed to buy Sabal Trust Co. in St. Petersburg, Fla. Hancock Whitney did not disclose what it will pay for the non-depository company, which has about $3 billion in assets under management. The deal is expected to close in the second quarter. The transaction is expected to be immediately accretive to Hancock Whitney's earnings per share. "This transaction is an excellent strategic opportunity to

Patriot National Bancorp in Stamford, Conn., which is evaluating strategic options that could include its potential sale, is now operating under a written agreement with the Office of the Comptroller of the Currency that labeled its bank as being in a "troubled condition." The $974.1 million-asset company disclosed in a regulatory filing that it must create a compliance committee by Jan. 31 to make sure it addresses the written agreement.

SouthEast Bank in Farragut, Tenn., will pay $1.5 million to settle claims by the Justice Department that it engaged in lending discrimination by disproportionately discouraging and denying Black and Native American graduates who were seeking to refinance their student loans. The agency's complaint, which was in the Eastern District of Tennessee, alleged that the $2.9 billion-asset bank's discriminatory practices took place between December 2015 and April 2021. The investigation originated

Pulaski Savings Bank of Chicago is the first bank to fail in 2025. The $49.5 million bank was closed by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC sold the bank's $42.7 million of deposits to Millennium Bank of Des Plaines, Ill. Millennium also agreed to buy about $45 million of the failed bank’s assets. The FDIC estimated that

American Honda Finance in Torrance, Calif., will pay $12.8 million to address claims by the Consumer Financial Protection Bureau that it inaccurately reported that 300,000 borrowers were delinquent when their payments were paused during the pandemic. The CFPB asserted that, because the payments were deferred, the accounts should have been reported as current. The company also failed to conduct appropriate investigations of customer disputes, the bureau claimed. The bureau ordered

The president of Glenwood State Bank in Glenwood, Minn., is leaving to take a job at the Independent Community Bankers of America. Peter Nelson, who is leaving the $556 million-asset bank on Feb. 7, will become the ICBA's senior executive vice president of member engagement. Kari Nelson was named to succeed Peter Nelson as interim bank president. Peter Nelson will remain on the bank's board of directors and serve as

WaFd in Seattle is getting out of mortgage lending. The $27.7 billion-asset company said in a press release that it recorded a $5.4 million restructuring expense tied to exiting the single-family mortgage lending market. The move, expected to take place between now and June, will save WaFd about $17 million annually. WaFd will cut about 8% of its workforce as a result of the move. The company will retail all

The Federal Deposit Insurance Corp. filed a lawsuit against 17 former executives and directors of Silicon Valley Bank that alleges gross negligence and breaches of fiduciary duty tied to the bank's March 2023 failure. The lawsuit, filed in U.S. District Court for the Northern District of California, is seeking billions of dollars from the defendants, including former CEO Gregory Becker and five other executives. The suit alleges that the executives