JPMorgan Chase in New York is giving more responsibility to Marianne Lake, seen as a potential successor to CEO Jamie Dimon. Dimon, along with President Daniel Pinto, wrote in a memo to employees that Lake, CEO of consumer and community banking, will take over leadership of international consumer banking and the bank’s strategic growth office. The move comes as Sanoke Viswanathan, JPMorgan Chase’s CEO of international consumer and wealth, plans to

The collapse of Pulaski Savings Bank of Chicago is now the subject of an in-depth review by the FDIC’s Office of Inspector General, reflecting the exceptional loss to the Deposit Insurance Fund (DIF) and the alarming discovery that nearly $21 million in deposits were never recorded in the bank’s core system. The state-chartered mutual savings bank, which had $49.5 million in total assets, failed in January, with most of its

Orange County Bancorp in Middletown, N.Y., plans to raise $37.5 million through a public offering. The $2.6 billion-asset company disclosed in a regulatory filing that it plans to sell 1.7 million shares of common stock. It could sell another 258,000 shares if there is enough demand. The company plans to use the net proceeds for general corporate purposes, which could include investments in its bank to support growth, augment regulatory

Patriot National Bancorp in Stamford, Conn., plans to raise $10.7 million by selling stock. The $974 million-asset company disclosed in a regulatory filing that it will sell about 8.5 million shares directly to investors at $1.25 each. The company plans to use the proceeds for general corporate purposes, which may include capital expenditures, working capital, and general and administrative expenses. Steven Sugarman led a group that agreed to infuse $50

North Shore Bank in Peabody, Mass., has a new leader. The $3 billion-asset bank said in a LinkedIn post that Mike Wheeler had taken on the new role. Wheeler was the bank's president and chief operating officer.

Wells Fargo in San Francisco has been released from the Federal Reserve's asset cap. The Fed said that the $1.9 trillion-asset company is no longer subject to the asset growth restriction from a 2018 enforcement action. The Fed determined that Wells Fargo had met all the conditions required by the enforcement action. Under the 2018 enforcement action, Wells Fargo was required to improve its governance and risk management program and

Farmers State Bank of Oakley, Kansas, has applied to buy Kaw Valley State Bank in Eudora, Kan. The $300.8 million-asset Farmers State applied with the Federal Deposit Insurance Corp. on May 30 to buy the $73 million-asset Kaw Valley. The price hasn't been disclosed. The deal is expected to close in the next three or four months. The decision to sell "was not made lightly," Kaw Valley posted on its

Chime Financial is shedding more light on the size of its highly anticipated initial public offering. The fintech, in an amended registration statement, included the calculation of filing fees tied to the IPO. Chime said it could sell up to 36.8 million shares of stock at $26 each, with the potential to raise $956.8 million. The amount includes an overallotment option of 4.8 million shares.