AQM Technologies in Chicago has acquired TRaiCE, which offers AI-based business risk monitoring solutions. AQM, which handles quality assurance, cybersecurity audits, and software testing for banks, did not disclose how much it paid. TRaiCE, backed by fintech accelerator RevTech Labs, pioneered using large language models for risk monitoring. "The integration of TRaiCE's advanced risk monitoring technology into our portfolio allows us to offer proactive business assurance solutions," Madhav Bhadra, AQM's

Venture Coast Partners is planning a new de novo bank in the San Francisco Bay Area. In its application filed with the Federal Deposit Insurance Corporation, the organizers of Venture Coast Partners Bank outlined a plan to build a modern community bank that blends relationship banking with advanced technology — aiming to serve entrepreneurs, tech professionals, small businesses, and high-net-worth individuals across the Bay Area. The proposed bank is seeking

The founder of customer-facing API company Increase has applied with the Federal Reserve to buy Twin City Bancorp in Longview, Wash. Darragh Buckley is also listed on his LinkedIn account as a director of Washington Business Bank. Twin City is the holding company for the $70 million-asset Twin City Bank. Buckleyfiled to personally buy Twin City; it is unclear if his strategy involves pairing the bank with his company. Increase

RBB Bancorp in Los Angeles reported lower quarterly profit due to elevated credit costs. The $4 billion-asset company said in a press release that its first-quarter earnings fell by 72% from a year earlier, to $2.3 million. The quarter included a $6.7 million loan-loss provision. RBB said the provision was due to a $2.8 million increase in specific reserves, largely tied to a pair of lending relationships, and $2.6 million

Enterprise Financial Services in St. Louis has agreed to buy 12 branches from First Interstate BancSystem in Billings, Montana. The $15.7 billion-asset Enterprise said in a press release that it will buy 10 branches in Arizona and two locations in Kansas that collectively have $740 million in deposits and $200 million in loans. Most of the loans are commercially oriented. The deal is expected to close in the fourth quarter.

The Consumer Financial Protection Bureau terminated a 2018 consent order against Wells Fargo, leaving two enforcement actions against the San Francisco company unresolved, including the Federal Reserve’s asset cap. Six orders against the bank have been resolved this year. The CFPB order was tied to the company's compliance risk management program. The CFPB "termination, along with the recent closure of other consent orders, demonstrates that we have completed much of

Regent Capital in Tulsa, Okla., has agreed to buy DLP Bancshares in Starke, Fla. The $1.8 billion-asset Regent said in a press release that it will pay all stock for the $247 million-asset DLP. The deal is expected to close in the third quarter. The price wasn't disclosed. Three DLP Bank directors will join Regent's board. DLP "brings a tremendous investor base for future growth capital, a strong core deposit

Eagle Financial Services in Berryville, Va., which recently raised capital, reported a quarterly loss after repositioning its securities portfolio. The $1.9 billion-asset company said in a press release that it lost $7 million in the first quarter after selling securities at a $9.8 million after-tax loss. The debt securities had an amortized cost balance of $99.2 million and a fair value of $86.8 million. The company invested $66 million of