HomeStreet in Seattle has agreed to sell its Ginnie Mae mortgage servicing portfolio. The $8 billion-asset HomeStreet, which recently agreed to sell itself to Mechanics Bank in California, did not disclose the buyer. The sale is expected to close on Aug. 1. The principal balance of the loans to be sold was $794 million on June 30, 2025. Because HomeStreet carried the portfolio at current market value on June 30,

Avidbank Holdings in San Jose, Calif., has filed a prospectus in advance of its planned initial public offering. The $2.3 billion-asset Avidbank did not disclose how many shares it plans to sell. Published reports said the company could look to raise up to $70 million. A "substantial amount" of the net proceeds would be used to increase capital at the bank level for organic growth. Capital could also be used

Prosperity Bancshares in Houston has agreed to buy American Bank Holding Co. in Corpus Christi, Texas. The $38.8 billion-asset Prosperity said in a press release that it will pay $321.5 million in stock for the parent of the $2.5 billion-asset American Bank. The deal, which is expected to close by the first quarter, priced American at 226% of its tangible book value. American has 18 branches, two loan production offices,

Bank First in Manitowoc, Wis., has agreed to buy Centre 1 Bancorp in Beloit, Wis., in a deal that will expand its reach into southern Wisconsin and northern Illinois. The $4.4 billion-asset Bank First said in a press release that it will pay $174.3 million in stock for the $1.6 billion-asset Centre. The deal, which is expected to close in the second quarter of 2026, priced Centre and 195% of

Chemung Financial in Elmira, N.Y., reported a quarterly loss after unloading underwater securities. The $2.9 billion-asset company said in a press release that it lost $6.5 million in the second quarter, compared to $5 million in net income a year earlier. Chemung sold $245.5 million of securities in June 2025 at a pretax loss of $17.5 million. The company, in conjunction with selling the securities, issued $45 million of subordinated

Western Alliance Bancorp. in Phoenix will rebrand its banks to reflect its corporate identity. The parent of Western Alliance Bank will rename Alliance Association Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank. AmeriHome Mortgage and Western Alliance Trust Co. will retain their brands. The effort is "an exciting milestone as we continue to advance our national commercial bank strategy," Ken Vecchione,

New Independent Bancshares in New Washington, Ind., has agreed to buy State Bank of Medora in Indiana. The deal is expected to close in the second half of this year. The $614.7 million-asset New Independent did not disclose how much it will pay for the $103.4 million-asset State Bank of Medora. Olsen Palmer advised New Independent.

TDECO in Houston has terminated an agreement to buy Sabine State Bank and Trust in Many, La. The $4.8 billion-asset credit union agreed in April 2024 to buy the $1.2 billion-asset Sabine in a deal that was expected to close earlier this year. The price wasn’t disclosed. It would have a been a huge acquisition for a credit union. Sabine, which has 51 branches in western Louisiana and east Texas,