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

Midland States Bancorp in Effingham, Ill., plans to restate multiple years of financial statements after identifying material errors tied to how it accounted for loans originated through third-party programs. The $7.5 billion-asset company, which said in a regulatory filing that some of the issues date back to 2012, acknowledged material weaknesses in its internal control over financial reporting. It plans to detail a remediation plan in its forthcoming 2024 annual

Cadence Bank in Houston has agreed to buy Industry Bancshares in Industry, Texas, which has been dealing with regulatory issues tied to its securities portfolios. The $50 billion-asset Cadence said in a press release that it will pay between $20 million and $60 million in cash, based on Industry's equity capital at closing. Cadence can also walk away from the deal if Industry's equity capital falls below a certain threshold.