Blackhawk Bancorp. in Milan, Ill., has agreed to buy Liberty Bancorp. in Durant, Iowa. The $2 billion-asset parent of Blackhawk Bank & Trust said in a statement that it expects to buy the holding company for the $186.2 million-asset Liberty Trust & Savings Bank in the fourth quarter. The price wasn't disclosed. The acquisition "represents an important next step for two organizations that share a very similar approach to community

Chemung Financial in Elmira, N.Y., will rebrand its banks under one name. The $2.8 billion-asset company said in a press release that Chemung Canal Trust Co., Capital Bank and Canal Bank will rebrand as Canal Bank & Trust. “For nearly 200 years, our organization has grown while staying true to the principles that have defined us for generations: personal service, local decision-making, trusted relationships and a deep commitment to the

American Bancorp in Macon, Ga., has sold the charter of New Republic Bank in Charlotte, N.C., to a Florida investor group. Juno Bancorp in Palm Beach Gardens, Fla., applied in June to become a bank holding company by acquiring New Republic. American Bancorp announced the completed sale on Oct. 1; the price was not disclosed. New Republic's Charlotte branch and its core clients stay with the $491 million-asset American Pride

Parkway Bancorp in Chicago has fresh capital and new leadership. The company said in a press release that it raised $350 million through a private placement of common stock co-led by investment funds managed by Patriot Financial Partners and Stone Point Capital. Most of the proceeds were used to complete a private tender offer to repurchase shares of Parkway stock from existing investors. As part of the transaction, Chip Reeves was named president

Organizers of the proposed New South Bank in Tampa, Fla., have received conditional approval from the Federal Deposit Insurance Corp. The group must raise $25 million before the bank can open. In their application, organizers said the goal is to be profitable in the second year and to have $250 million of assets the following year, along with $225 milion of deposits and $180 million of loans. New South is

First Merchants in Muncie, Ind., will begin 2027 with a new CEO. The $21 billion-asset company said in a press release that Mike Stewart will also become its president. Stewart, the bank's president, will succeed. Mark Hardwick, who is retiring. “We wish Mark well and are grateful for his outstanding leadership through years of tremendous growth, including 18 acquisitions during his tenure,” Jean Wojtowicz, the company's chair, said in the

Stripe has agreed to acquire Parafin, an embedded financial products platform. Parafin supports platforms that include DoorDash, Gusto, Jobber, and Mindbody. The deal is expected to close in the coming months; the price wasn't disclosed. “Platforms power millions of small businesses throughout the world and are central to Stripe’s mission,” Neetika Bansal, Stripe's business lead, said in a press release. “The Parafin team bring[s] acute expertise and leadership in credit,

Peoples Bancorp in Marietta, Ohio, has agreed to buy Capital Bancorp in Rockville, Md. The $9.5 billion-asset Peoples said in a press release that it will pay $728.1 million in stock for the $3.9 billion-asset Capital. The deal, which is expected to close in the first half of next year, priced Capital at 191% of its tangible book value. Capital has four business segments: commercial banking, OpenSky for secured credit