QNB Corp. in Quakertown, Pa., plans to raise at least $42.3 million by selling common stock. The company said in a press release that it will sell nearly 1.1 million shares of stock at $42 each. It could sell another 161,000 shares if there is enough demand. Proceeds could be used for a balance sheet restructuring that includes selling securities, redeeming subordinated debt, funding loans, and supporting capital ratios, among

Pontiac Bancorp in Pontiac, Ill., has agreed to buy Ottawa Bancorp in Ottawa, Ill. The parent of the $1.2 billion-asset Bank of Pontiac will pay $45.5 million in cash for the holding company of the $356 million-asset OSB Community Bank. The deal is expected to close in the first quarter. Pontiac was advised by Olsen Palmer.

Kita, an AI credit underwriting and assessment platform, raised $4.5 million in a seed round. The fintech said in a LinkedIn post that the round was led by BoxGroup, with participation from Y Combinator, Golden Gate Ventures, U.S. News & World Report, BEENEXT, and Kaya Founders, as well as angels from Apple and Mercor. "We're building AI underwriting infrastructure that turns these messy docs into a credit assessment in under 60

Pro basketball player Harrison Barnes is inching closer to buying Community State Bank in Paton, Iowa. Shareholders of the $42.8 million-asset bank recently approved a sale to Barnes Bancorp. The Federal Reserve must still approve an application for Barnes Bancorp to become a bank holding company. Jeff Plagge, a lifelong banker, former state bank commissioner and managing director of Harrison Barnes & Co., announced on LinkedIn that he had become

Bryant Bank in Tuscaloosa, Ala., has shuffled its leadership team. The $2.9 billion-asset bank said in a press release that Mike Mitchell had become its president. Mitchell, who was chief credit officer, succeeded Claude Edwards, who became president emeritus and chief strategy officer. Patrick Hamner was named chief credit officer, succeeding Mitchell. Hamner was executive vice president of commercial loans and credit administration. “Claude has led Bryant Bank with the

Mint National Bank in Kingwood, Texas, has a new CEO. Jason Cassity, a member of the $392.8 million-asset bank's board, announced the new role on his LinkedIn account. "This is an exciting time for me and I couldn’t be happier that I’ll be working in my hometown of Kingwood again," Cassity wrote.

Great American Bank in Lawrence, Kan., has agreed to buy Cottonwood Valley Bank in Cedar Point, Kan. The $504.3 million-asset Great American said in a press release that it plans to buy the $38.3 million-asset Cottonwood Valley in the fourth quarter. The price wasn't disclosed. "This merger brings together two community-focused institutions with shared values,  strong cultures, and a commitment to serving customers and communities," Les Dreiling, Great American's president

Old Glory Bank in Elmore City, Okla., will remain privately held after scrapping a plan to sell to Digital Asset Acquisition Corp., a special purpose acquisition company, to form a crypto-focused financial institution. Digital Asset Acquisition Corp. confirmed in an Aug. 13 regulatory filing that the companies had mutually terminated their agreement. The Federal Reserve would not approve the deal, according to a published report. Neither party owed a termination fee.