National Bankshares in Blacksburg, Va., has a new president lined up. The $1.8 billion-asset company said in a press release that Lara Ramsey will take over the role on Jan. 1. Ramsey, the company's chief operating officer and senior vice president of administration, will succeed F. Brad Denardo, who will remain chairman and CEO.

Metropolitan Bank Holding in New York reported lower quarterly profit that reflected a reserve designed to address a probe into a former fintech client. The $7.4 billion-asset company said in a press release that its third-quarter profit fell by 44% from a year earlier, to $12.3 million. Metropolitan said it set aside $10 million to resolve a state agency's investigation tied to a fintech client it last worked with in

New York Community Bancorp in Hicksville is planning to cut about 700 jobs at its bank. The $119.1 billion-asset company said in a press release that the cuts represent about 8% of Flagstar Bank's workforce. Another 1,200 jobs will go away when the company completes the previously announced sale of its mortgage servicing business to Mr. Cooper. "As part of our commitment to a profitable future, we launched a transformation

FNB Corp. in Pittsburgh sold a portfolio of indirect auto loans at a loss. The $48 billion-asset FNB said in a press release that it sold $431 million of performing loans in September as part of a balance sheet repositioning. The company said it lost $11.6 million from the sale, though it also improved the loan-to-deposit ratio by about 120 basis points. The sale also improved FNB's Common Equity Tier

Jewel Box Financial Services in Columbus, Wis., has agreed to buy Wisconsin River Bank in Sauk City, Wis. The $505 million-asset parent of Farmers and Merchants Union Bank did not disclose how much it will pay for the $182 million-asset Wisconsin River Bank. The deal is expected to close in the first quarter. “Wisconsin River Bank has built a strong reputation over the last 30 years by consistently delivering superior

OceanFirst Financial in Red Bank, N.J., incurred costs in the third quarter after buying a mortgage lender and a finance business focused on real estate developers. The $13.5 billion-asset company said in a press release that it spent $1.7 million in the quarter tied to its purchase of Garden State Home Loans in Cherry Hill, N.J., on Aug. 3 and Spring Garden Capital Group in Philadelphia on Oct. 1. The

Axiom Bank entered into a formal agreement with the Office of the Comptroller of the Currency that flagged the Maitland, Fla., bank for unsafe or unsound practices tied to the Bank Secrecy Act, anti-money laundering compliance and third-party management. The OCC required the $850 million-asset bank to form a compliance committee with at least three members where a majority are directors who are not bank employees or officers. The bank

First Liberty National Bancshares in Liberty, Texas, has agreed to buy Coastal Bancshares in Pearland, Texas. The parent of the $501 million-asset First Liberty Bank will exchange an undisclosed amount of stock for Coastal, Performance Trust Capital Partners announced on LinkedIn. Performance Trust advised Coastal Bancshares. Coastal is the holding company of the $192 million-asset Pearland State Bank and the $154 million-asset First National Bank of Alvin