Arrha Credit Union in Springfield, Mass., has agreed to merge into another credit union after its unconventional plan to sell to Pittsfield Co-operative Bank in Pittsfield, Mass., fell through. The $2.2 billion-asset BrightBridge Credit Union in Lawrence, Mass., will absorb Arrha in a merger that should be completed earlier next year. “Arrha Credit Union has a long-standing reputation for supporting its members with integrity, care and genuine down-to-earth service. Our

Home BancShares in Conway, Ark., is looking for an acquisition to help it meet a big financial goal. The $22.9 billion-asset company is keen to boost annual net income to $500 million in 2026, Chairman and CEO Johnny Allison said during a conference call to discuss quarterly earnings. "We need to find something to buy that will be additive to our income," Allison said. "That just rings the bell with

HomeStreet in Seattle has agreed to sell its Ginnie Mae mortgage servicing portfolio. The $8 billion-asset HomeStreet, which recently agreed to sell itself to Mechanics Bank in California, did not disclose the buyer. The sale is expected to close on Aug. 1. The principal balance of the loans to be sold was $794 million on June 30, 2025. Because HomeStreet carried the portfolio at current market value on June 30,

Avidbank Holdings in San Jose, Calif., has filed a prospectus in advance of its planned initial public offering. The $2.3 billion-asset Avidbank did not disclose how many shares it plans to sell. Published reports said the company could look to raise up to $70 million. A "substantial amount" of the net proceeds would be used to increase capital at the bank level for organic growth. Capital could also be used

Prosperity Bancshares in Houston has agreed to buy American Bank Holding Co. in Corpus Christi, Texas. The $38.8 billion-asset Prosperity said in a press release that it will pay $321.5 million in stock for the parent of the $2.5 billion-asset American Bank. The deal, which is expected to close by the first quarter, priced American at 226% of its tangible book value. American has 18 branches, two loan production offices,

Bank First in Manitowoc, Wis., has agreed to buy Centre 1 Bancorp in Beloit, Wis., in a deal that will expand its reach into southern Wisconsin and northern Illinois. The $4.4 billion-asset Bank First said in a press release that it will pay $174.3 million in stock for the $1.6 billion-asset Centre. The deal, which is expected to close in the second quarter of 2026, priced Centre and 195% of

Chemung Financial in Elmira, N.Y., reported a quarterly loss after unloading underwater securities. The $2.9 billion-asset company said in a press release that it lost $6.5 million in the second quarter, compared to $5 million in net income a year earlier. Chemung sold $245.5 million of securities in June 2025 at a pretax loss of $17.5 million. The company, in conjunction with selling the securities, issued $45 million of subordinated

Western Alliance Bancorp. in Phoenix will rebrand its banks to reflect its corporate identity. The parent of Western Alliance Bank will rename Alliance Association Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank. AmeriHome Mortgage and Western Alliance Trust Co. will retain their brands. The effort is "an exciting milestone as we continue to advance our national commercial bank strategy," Ken Vecchione,