OpenReserve Bank has received conditional approval from the Office of the Comptroller of the Currency for a national bank charter. The proposed bank, which submitted its applications in April and recently raised $25 million in a seed round led by a16z, would operate out of Salt Lake City and offer lending, deposit, stablecoin, digital treasury, card issuance, payment, and settlement services, OpenReserve also plans to create a wholly owned subsidiary,

Simmons First National in Pine Bluff, Ark., is closing 26 branches in five states. The company disclosed in a regulatory filing that it will close the locations by Dec. 3. The closures will impact about 100 employees; about 70% will be retained. Simmons is closing six branches in Arkansas, Tennessee, and Texas. Another five will close in Missouri, and three in Oklahoma. Simmons said it expects to incur $20 million

U.K. neobank Revolut has received conditional approval from the Office of the Comptroller of the Currency for a U.S. national bank charter. Revolut said in a press release that it is working through remaining applications and approvals with the Federal Deposit Insurance Corp. and the Federal Reserve. The goal is to open the bank next year. "Conditional OCC approval is an important first step towards establishing the proposed Revolut Bank

Organizers of the proposed Georgia Skyline Bank in Roswell have shifted gears and will instead buy and recapitalize Highlands Community Bank in Covington, Va. The group, which received conditional approval from the Federal Deposit Insurance Corp. in December, now plan to buy the $190 million-asset Highlands. The plan is to still use the charter to serve customers around northern Atlanta. “This is an extraordinary opportunity for our organizers, our subscribers

Cari, a bank-governed digital money network founded by Gene Ludwig, has raised $32.5 million in the first tranche of its initial external funding round. The investments came entirely from banks, including design partners First Horizon Bank, Huntington Bank, KeyBank, M&T Bank, Old National Bank, and SouthState Bank. Glacier Bank also participated. Cari began working with its design partner banks in September 2025. Cari launched a full platform in March that

STAR Financial Group in Fort Wayne, Ind., is planning to launch a digital banking unit to support small businesses and entrepreneurs. The parent of the $3 billion-asset STAR Bank said that the planned Denova would offer digital checking and savings accounts, bill pay, wire transfers, and concierge-style support through embedded chat and business specialists. The company has been innovative in the past, working with Alkami Technology and NYDIG to let

Parkside Financial in St. Louis, Mo., has agreed to buy First American Bancorp in Greenwood Village, Colo. The $1.1 billion-asset Parkside said in a press release that it expects to buy the $277 million-asset First American in a cash-and-stock transaction expected to close in the fourth quarter. The price wasn't disclosed. “First American has built a strong legacy of relationship-based banking in Colorado,” James Wagner, co-founder and CEO of Parkside

Equity Bancshares in Wichita, Kan., has agreed to buy Lincoln Bancorp in Reinbeck, Iowa. The $7.7 billion-asset Equity said in a press release that it will pay $123.8 million in cash and stock for the $1.7 billion-asset parent of Lincoln Savings Bank. The deal is expected to close in the fourth quarter. “This partnership marks an important step in our long-term strategy for Iowa,” Brad Elliott, Equity’s chairman and CEO,