Mercantile Bank in Grand Rapids, Mich., has agreed to buy Eastern Michigan Financial in Croswell. The $6.2 billion-asset Mercantile said in a press release that it would pay $95.8 million in cash and stock for the $505 million-asset Eastern. The deal, which is expected to close in the fourth quarter, priced Eastern at 165% of its tangible book value. Eastern has 12 branches, $208 million loans, and $449 million of

Old National in Evansville, Ind., has hired an executive from KeyCorp as its president. The $71 billion-asset company said in a press release that Tim Burke had also become its chief operating officer. Burke, who oversaw the central region for Key, succeeded Mark Sander, who retired. “I’m truly thrilled to join a team that’s so deeply committed to relationship banking and making a real impact on our communities,” Burke said

Simmons First National in Pine Bluff, Ark., is planning to raise $300 million by selling common stock. The company announced in a press release that it is selling about 16.2 million shares to the public at $18.50 per share. Another 2.4 million shares could be sold if there is enough demand. Simmons plans to use the net proceeds for general corporate purposes such as investments in its bank to support

National Bank Holdings in Denver has invested in the Nav marketplace for small business deposit and lending solutions. The company said in a press release that it invested $5 million in Nav and that Tim Laney, its chairman and CEO, will serve as an observer on the marketplace's board. Nav offers a suite of tools to help entrepreneurs access, monitor, and build credit. It also provides small business owners with

Jefferson Bank in San Antonio will soon have a new leader. The $3 billion-asset bank said in a press release that Danny Butler will retire as president and CEO at the end of this year. Mitch Walker, the bank's chief operating officer, will become CEO. Reagan Winslow, who leads the bank's trust division, will become president. "Our leadership transitions are not just about titles — they reflect commitment to our strength,

First Community Bankshares in Bluefield, Va., has agreed to buy Hometown Bancshares in Middlebourne, W.Va. The $3.2 billion-asset First Community said in a press release that it will pay $41.5 million in stock for the parent of the $402 million-asset Union Bank. The deal, which is expected to close early in the first quarter, priced Hometown at 158% of its tangible book value. The acquisition "is a natural expansion into

GreatAmerica Holdings, which owns a commercial equipment finance company, has agreed to buy Heritage Bank in Marion, Iowa. GreatAmerica did not disclose how much it would pay for the $40.4 million-asset Heritage, which it plans to rebrand as GreatAmerica Bank. “GreatAmerica and Heritage Bank will work in tandem ... to continue growing and strengthening our existing customer relationships—while also building new ones—across all the industries we serve,” Martin Golobic, GreatAmerica's

Stripe has agreed to buy Orum.io, a New York fintech that builds infrastructure to allow for instant money movement across U.S. financial institutions. Stephany Kirkpatrick, who founded Orum in 2019, announced the sale in a LinkedIn post. The price wasn't disclosed. "After thoughtful consideration, it became clear that we have a rare opportunity to accelerate Orum’s mission and greatly increase our impact by becoming part of Stripe," she wrote. "Alongside