FSB Financial in New Madison, Ohio, has applied to buy Republic Banking Co. in Republic, Ohio. FSB, the parent of the $246 million-asset Farmers State Bank, applied with the Federal Deposit Insurance Corp. on June 11 to buy the $60 million-asset Republic Bank. The deal is expected to close in the third quarter; the price wasn't disclosed. Republic shares "our core community banking philosophy: empowered local management and employees dedicated

Ken Moelis is stepping down as CEO of the investment bank he co-founded. Moelis & Co. in New York said in a press release that Moelis, who has led the firm since 2007, will step down and become executive chairman on Oct. 1. Navid Mahmoodzadegan, the firm's co-founder and co-president, will become the CEO and join the board, while Jeff Raich, co-founder and co-president, will become executive vice chairman and

Newburyport Bank in Newburyport, Mass., has a new president. The $1.6 billion-asset mutual said in a press release that Jim McCarthy will also become its chief operating officer on June 28. McCarthy, a member of the bank's board, was chairman, president, and CEO of First Ipswich Bank “Jim is a seasoned and respected leader who understands both the opportunities and the complexities of modern banking,” Lloyd Hamm, president and CEO

CoastalSouth Bancshares in Hilton Head, S.C., is planning to sell common stock. The $2.2 billion-asset company's registration statement will also allow certain shareholders to sell shares. The number of shares and pricing were not included. CoastalSouth said that proceeds from the shares it sells will be used for working capital and general corporate purposes that could include supporting our organic growth, funding acquisitions, branch expansion, and repaying debt. The filing

Main Street Financial in Wooster, Ohio, has parted ways with its CEO. The $1.4 billion-asset company said in a press release that it terminated the employment of Jay VanSickle II without cause, effective June 3. VanSickle was also removed from the company's board. Mark Witmer, the company's executive chairman, was named president and CEO. VanSickle was CEO of Wayne Savings Bancshares when it merged with Main Street in May 2024.

Commerce Bancorp in Greenwood, Miss., has applied to buy Holmes County Corp. in Lexington, Miss. The parent of the $983 million-asset Bank of Commerce applied with the Federal Deposit Insurance Corp. on June 5 to acquire the $154 million-asset Holmes County Bank. The deal is expected to close in the fourth quarter. The price wasn't disclosed. “Holmes County Bank is the perfect merger partner for Bank of Commerce,” Bryan Thornhill,

Parlay Finance, an AI-powered loan intelligence system, raised $2 million in a seed funding round. The round was led by JAM FINTOP. Parlay will use the proceeds to continue scaling its technology nationwide. The platform's capabilities include digital customer onboarding, information verification, and an AI-powered decision management system to streamline processes for Small Business Administration loans. "JAM FINTOP's investment and network of banks creates a powerful multiplier effect for our

Teton Capital, an investment firm led by David Sokol, is reportedly pushing for changes at Atlantic Union Bankshares in Richmond, Va. Teton bought an undisclosed stake in the company, though it is below the 5% that would trigger a regulatory filing, according to Bloomberg. The investment firm is reportedly pressing Atlantic Union, which just bought Sandy Spring Bancorp in Maryland, to cut operational costs, shrink its board, and adjust executive