Nebraska Credit Union League selects next CEO
Brandon Luetkenhaus was named president and CEO of the Nebraska Credit Union League. Luetkenhaus succeeded Scott Sullivan, who retired on June 30. “I am excited to work with Brandon and appreciate his extensive League dedication,” Robin Larson, president and CEO of Cobalt Credit Union and the league’s chair. “His experience and leadership qualities are exceptional. […]
Bank of Hillsboro in Illinois to rebrand as Constitution Bank
Bank of Hillsboro in Illinois is rebranding. The $646 million-asset bank said it will become Constitution Bank on Sept. 2. “Constitution Bank is more than a name change, it’s a renewed commitment to who we’ve always been,” Misty Borrowman, the bank’s president and CEO, said in a press release. “We remain locally owned and community-focused, […]
First Community in SC confirms ‘preliminary’ talks with Signature Bank of Georgia
First Community in Lexington, S.C., confirmed that it has engaged in “preliminary discussions” with Signature Bank of Georgia in Sandy Springs about a merger. The $2 billion-asset company referred to a media report and an erroneously issued press release by the $249 million-asset Signature Bank. “No definitive agreement has been entered into, and there can […]
Business First to buy Progressive Bancorp in Louisiana
Business First Bancshares in Baton Rouge, La., has agreed to buy Progressive Bancorp in Monroe, La. The $7.8 billion-asset Business First said in a press release that it will pay $82.6 million in stock for the $752 million-asset Progressive. The deal, which is expected to close in the first quarter, priced Progressive at 122% of […]
Norwood Financial to buy PB Bankshares in Pennsylvania
Norwood Financial in Honesdale, Pa., has agreed to buy PB Bankshares in Coatesville, Pa. The $2.4 billion-asset Norwood said in a press release that it will pay $54.9 million in cash and stock for the $467 million-asset PB Bankshares. The deal, which is expected to close by the first quarter of next year, priced PB […]
VWF Bancorp in Ohio hires outsider as next CEO
VWF Bancorp in Van Wert, Ohio, will soon have a new CEO. The company said in a press release that Robert Slusser will also become its president and join its board on July 14. He will also serve as president and CEO of VWF unit GreenWay Bank. Slusser, who was market president for Fort Wayne, […]
Stripe approved for specialized bank charter in Georgia
Stripe has received approval to charter a Georgia merchant acquirer limited purpose bank. Having an MALPB lets a company that is largely engaged in processing credit and debit card transactions for businesses directly access major payment card networks. The charter makes is easier for Stripe to process card payments without having to rely on a […]
Investar in La. makes Dallas push with deal for Wichita Falls Bancshares
Investar Holding in Baton Rouge, La., has agreed to buy Wichita Falls Bancshares in Wichita Falls, Texas. The $2.7 billion-asset Investor said in a press release that it will pay $83.6 million in cash and stock for the $1.6 billion-asset Wichita Falls. The deal, which is expected to close in the fourth quarter, priced Wichita […]
Stablecoin issuer Circle applies with OCC to form national trust bank
Stablecoin issuer Circle has applied with the Office of the Comptroller of the Currency to create a national trust bank. The proposed First National Digital Currency Bank would, among other things, oversee Circle’s USDC reserve on behalf of its U.S. issuer. If the application is approved, First National Digital Currency Bank would be allowed to […]
The Bancorp in Del. preps to fight for $3M tied up in nixed real estate sale
The Bancorp in Wilmington, Del., could be facing a fight to reclaim $3 million tied to a terminated real estate sale. The company had previously agreed to sell a real estate bridge lending asset, primarily comprised of an apartment complex valued at $42.9 million on June 30. The Bancorp terminated the contract on June 24 […]
Millennium Bancshares in Tenn. to buy North Georgia National Bank
Millennium Bancshares in Chattanooga, Tenn., has agreed to buy North Georgia Community Financial Partners in Calhoun. The $528 million-asset Millennium Bank, which is owned by the DeFoor family, applied with the Federal Deposit Insurance Corp. on June 26 to buy the $267 million-asset North Georgia National Bank. The deal is expected to close in the […]
First Mid in Illinois taps insider as next president
First Mid Bancshares in Mattoon, Ill., has a new president. The $7.6 billion-asset company said in a press release that Matthew Smith had taken on the new role. Smith, who was the chief financial officer, is now responsible for all First Mid lines of business Jordan Read, who succeeded Smith as CFO, will remain chief […]
Santa Anna National Bank in Texas is 2025’s second failure
Santa Anna National Bank of Santa Anna, Texas, failed. The $63.8 million-asset bank was closed by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC sold most of the bank’s $53.8 million of deposits to Coleman County State Bank of Coleman, Texas, at a 5.16% […]
Atlantic Union in Va. sells $2 billion CRE pool to Blackstone
Atlantic Union Bankshares in Richmond, Va., sold $2 billion of performing CRE loans to Blackstone. Atlantic Union, which inherited the loans when it bought Sandy Spring Bancorp on April 1, said when it announced the acquisition last year that it planned to sell the CRE loans. The loan sale “is another proof point of Atlantic […]
Maverick Bancshares in Texas to buy parent of Tejas Bank
Maverick Bancshares in Lubbock, Texas, has agreed to buy Sandhills Bancshares in Monahans, Texas. The $425 million-asset Maverick did not disclose how much it will pay for the $225 million-asset parent of Tejas Bank. The deal is expected to close in the first quarter. “This isn’t just an expansion. It’s about strengthening our presence in […]
Community Financial in N.Y. buying seven Pa. branches from Santander
Community Financial System in Syracuse, N.Y., has agreed to buy seven branches in the Allentown, Pa., area from Santander Bank. Santander said in a press release that the sale includes $600 million in deposits and $33 million in branch-related loans. Community Financial will pay an 8% deposit premium. The deal is expected to close in […]
Glacier in Montana to enter Texas with Guaranty Bank acquisition
Glacier Bancorp in Kalispell, Mont., will enter Texas after agreeing to buy Guaranty Bancshares in Mount Pleasant, Texas. The $28.2 billion-asset Glaicer said in a press release that it will pay $476.2 million in stock for the $3.2 billion-asset Guaranty. The deal, which is expected to close in the fourth quarter, priced Guaranty at 162% […]
Former BaaS bank Mode Eleven to seek buyer through bankruptcy
Mode Eleven Bancorp in Hulett, Wyo., which decided to shut down its Banking-as-a-Service platform last year after being hit with a regulatory order, is looking to sell its bank through a bankruptcy process. The company filed for Chapter 11 bankruptcy protection on June 9. It is working with Hovde Group to find a buyer for […]
Amerant in Florida adds banking vet Jack Kopnisky to board
Amerant Bancorp in Coral Gables, Fla., has recruited a high-profile banker to its board. The company said in a press release that Jack Kopnisky had become a director. Kopnisky was president and CEO of Sterling Bancorp when it sold to Webster Financial. He would later serve as Webster’s chairman. Amerant also added Patty Morrison, former […]
AgFirst Farm Credit Bank hires former Ford Motor Credit leader as CEO
AgFirst Farm Credit Bank in Columbia, S.C., has lined up its next CEO. AgFirst said in a press release that Marion Harris will also become its president of July 14. Harris, a former chairman and CEO of Ford Motor Credit, will succeed Pat Calhoun, who had filled in as interim president and CEO. Calhoun will […]
First Financial in Ohio to buy Westfield Bancorp from Ohio Farmers Insurance
First Financial Bancorp in Cincinnati has agreed to buy Westfield Bancorp in Westfield Center, Ohio. The $18.5 billion-asset First Financial said in a press release that it will pay $325 million in cash and stock to Ohio Farmers Insurance Co. for the $2.2 billion-asset Westfield. The deal, which had the codename Project Artemis and is […]
Fiserv plans stablecoin as part of new digital asset platform
Fiserv in Milwaukee plans to form a digital asset platform that will include a stablecoin. The company said in a press release that it aims to add the stablecoin, to be called FIUSD, to its banking and payments infrastructure by the end of the year. FIUSD expects to use stablecoin infrastructure from Paxos and Circle Internet […]
First National Bank Coastal Community in Fla. hires new CEO
First National Bank Coastal Community in Wellington, Fla., has a new leader. The $503 million-asset bank said in a press release that Shaun Williams had also become its president. He was the chief lending officer at Marine Bank. “It’s an honor to lead a bank that believes in the power of relationships and local decision-making,” […]
Group led by Dallas businessman buys Hopeton State Bank
One America Bancorp, a newly formed bank holding company, has acquired Hopeton State Bank in Hopeton, Okla. One America, an effort led by Dallas businessman Bruce Ware, did not disclose how much it paid for the $26 million-asset bank. The new BHC will focus on serving rural communities in Oklahoma while creating a commercial banking presence […]
Proposed Ohio bank bakes virtual currencies into business plan
A group of banking and legal professionals is seeking to open a national bank in Columbus, Ohio, that would weave stablecoins into its business plan. The proposed Erebor Bank aims to offer traditional banking products, along with virtual currency-related products and services, to businesses and individuals. The target market includes technology companies focused on virtual […]