Citizens Bancshares in Olanta, S.C., has agreed to buy a branch in Laurinburg, N.C., from First Capital Bancshares in Charleston, S.C. The $1 billion-asset Citizens said in a press release that it will gain some deposits and loans when it buys the location from the $1 billion-asset First Capital. The deal is expected to close in the fourth quarter. The price wasn't disclosed. "We take the responsibility to continue First

Old Point Financial in Hampton, Va., was an extremely popular acquisition target, attracting eight letters of intent when it put itself up for sale. TowneBank in Suffolk, Va., agreed in April to buy the $1.5 billion-asset Old Point for $203 million in cash and stock. The $17.5 billion-asset TowneBank expects to complete the acquisition in the second half of this year. Old Point, which has been open to a deal

Catena Labs, which is looking to build an artificial intelligence-native bank, has raised $18 million. Sean Nevill, a co-founder of Circle, is the CEO at Catena Labs. Catena has already published an open-source agent commerce kit that outlines protocols for AI-driven e-commerce. The startup plans to use its new funding to accelerate development of its AI-native financial institution and its underlying technology. "AI agents will soon conduct most economic transactions,

Quaint Oak Bancorp in Southampton, Pa., is working through a regulatory order. The company disclosed in a regulatory filing that its bank agreed to consent agreements with the Federal Deposit Insurance Corp. and Pennsylvania's Department of Banking and Securities, Bureau of Bank Supervision tied to its compliance with the Bank Secrecy Act. The orders followed an on-site examination that began on Feb. 20, 2024. Quaint Oak said it believes the

Software provider CSI has a new CEO. The Paducah, Ky., company said in a press release that Nancy Langer had also become its president and joined its board. Langer, was was recently CEO of Transact Campus, succeeded David Culbertson, who will become vice chair. "Joining CSI is a full-circle moment in my career," Langer said in the release. "Just as community banks across the country are seeking better ways to

The Delaware Bankers Association has its next leader lined up. The association said that Karyn Polak will become its president, CEO and treasurer on June 2. She will succeed Sarah Long, who will retire on May 30. Polak was deputy general counsel at PNC from 2014 to 2019. She was general counsel at Transamerica from 2019 to 2022.

BancFirst in Oklahoma City has agreed to buy American Bank of Oklahoma in Collinsville. The $14 billion-asset BancFirst said in a press release that it expects to buy the $320 million-asset American Bank in the third quarter. The price wasn't disclosed. "Collinsville and Skiatook are thriving communities that continue to experience dynamic growth in northeastern Oklahoma," David Harlow, BancFirst's CEO, said in the release. "This acquisition aligns with our continued commitment to serving communities here in

Independent Bank Corp. in Rockland, Mass., plans to cut 125 jobs this year as part of its planned acquisition of Enterprise Bancorp in Lowell, Mass. Independent agreed in December to buy Enterprise for $562 million in a deal expected to close in the second half of this year. Independent filed a Worker Adjustment and Retraining Act (WARN) notice, stating that the jobs will be cut across three locations between July