RBB Bancorp in Los Angeles has set the stage for a new CEO. The $4 billion-asset company said in a press release that Johnny Lee will become its president and CEO of its bank on Jan. 1. Lee, who is the bank's president and chief banking officer, will become corporate CEO on May 22. Lee will succeed David Morris as he moves into each new position. Morris will remain on

The Office of the Comptroller of the Currency issued a new cease-and-desist order to USAA Federal Savings Bank that limits the Phoenix bank's ability to add certain new products and services. The OCC said in a press release that the C&D order replaces prior orders issued against the bank in 2019 and 2022. The OCC said it issued the new order "based on unsafe or unsound practices relating to management, earnings, information

National Bank Holdings in Denver repositioned its securities portfolio. The $10 billion-asset company said in a press release that it sold $130 million of available-for-sale investment securities, purging about a fifth of its portfolio. The company will record a $5 million after-tax loss from the sale. Proceeds will be redeployed over time into higher-yielding securities. “Through our solid capital position, we are able to effectively manage our balance sheet while

First Commonwealth Financial in Indiana, Pa., has agreed to buy CenterGroup Financial in Cincinnati. The $12 billion-asset First Commonwealth said in a press release that it will pay $54.6 million in stock for the parent of the $348.4 million-asset CenterBank. The deal, which is expected to close in the first half of next year, priced the seller at 153% of its tangible book value. "We have known the CenterBank team

The Savings Bank in Wakefield, Mass., will have a new leader in 2025. The $821 million-asset bank said in a press release that Robert DiBella will retire as president and CEO on Dec. 31. DiBella, who has led the bank since 2016, will be succeeded by Raichelle Kallery, the bank's chief operating officer. “Bob DiBella’s presence ... will be felt for years to come at both The Savings Bank and

First Guaranty Bancshares in Hammond, La., slashed its quarterly cash dividend to a penny. The $3.9 billion-asset company's previous dividend was 8 cents. First Guaranty began cutting its dividend in July, around the same time that it announced plans to lay off about 15% of its employees to shore up capital. Those decisions came just months after the company hired Michael Mineer as its next president and CEO.

Lenders Cooperative in Mechanicsburg, Pa., and Ventures Lending Technologies in San Diego are planning to merge. Lenders Cooperative provides integrated commercial lending platforms, while Ventures Lending Technologies provides lending technology. Financial terms were not disclosed. “Our banking partners that leverage our commercial loan origination technology have continued to seek a modern servicing platform to deliver a true end-to-end experience from originations through servicing,” Cary Cooper, Lenders Cooperative's CEO, said in

Vista Bank in Dallas has agreed to sell seven branches in rural markets to First United Bank in Dimmitt, Texas. The $2.4 billion-asset Vista applied with regulators to sell branches in the Texas markets of Abernathy, Hale Center, Haskell, Idalou, Petersburg, Plainview and Ralls. The deal is expected to close in the first quarter. First United has $2.2 billion in assets. The branches had a total of $383 million of deposits