Valley National Bancorp in New York announces that its president plans to retire next year. The $62 billion-asset company said in a press release that Thomas Iadanza will step down on June 30. He joined the bank through its 2012 purchase of State Bancorp, where he was chief lending officer. "Tom’s dedication to our customers, employees, and stakeholders has contributed meaningfully to our successful evolution," Ira Robbins, Valley's chairman and

First State Bank Southwest in Worthington, Minn., announced its CEO's retirement. Greg Raymo, who will remain a bank director, had worked at the $400 million-asset bank since 1997. “Greg has been a mentor to so many and has served on several boards and committees that work tirelessly in support of the community banking industry in our state and at the national level,” the bank said in a statement.

Sallie Krawcheck is stepping down as CEO of Ellevest to address a health problem. Krawcheck, a banking veteran who had key leadership roles at Citigroup and Merrill Lynch, wrote in a note that she will remain on the asset manager's board. Sylvia Kwan, Ellevest's chief investment officer, and Connie Hsiung, the chief financial officer and chief operating officer, were named co-CEOs. "While I pass the torch to the next generation

Old National Bancorp in Evansville, Ind., is playing a leading role in an effort to form a de novo bank in Indianapolis. Old National is part of a group organizing the proposed Generations Community Bank, which plans to become a minority depository institution and a community development financial institution. Old National is paying for the planned bank's organizational expenses. Generations' top executives are currently on Old National's payroll. "The employment

Patriot National Bancorp in Stamford, Conn., is exploring strategic initiatives, including its possible sale. The $974.1 million-asset company disclosed in a regulatory filing that it has hired Performance Trust Capital Partners to also help it explore capital markets ... with the goal of maximizing shareholder value." The review could lead to a capital raise, strategic partnership or a merger. Patriot said in the filing that it has been seeking "targeted

First Hawaiian in Honolulu restructured its securities portfolio. The company said in a press release that it sold $293 million of lower-yielding available-for-sale debt securities at an after-tax loss of $19.7 million. Proceeds were reinvested in $293 million of higher-yielding debt securities. The transaction should increase net interest income by about $8.6 million and expand the net interest margin by about 4 basis points in 2025. First Hawaiian said it

Carter Bankshares in Martinsville, Va., has agreed to buy deposits in North Carolina from First Reliance Bancshares in Florence, S.C. The $4.6 billion-asset Carter said in a press release that the deal includes deposits at branches in Mooresville and Winston-Salem. It will also buy the Winston-Salem branch. Carter will pay a 4.6% deposit premium on the average closing balance of the sum of noninterest and interest-bearing transaction accounts, savings and

Central Ohio Bancorp in Waverly has raised capital. The parent of the $229 million-asset First National Bank of Waverly brought in $1.1 million by selling common stock, according to data compiled by Performance Trust Capital Partners. The data did not detail the pricing, shares sold, or investors.