Long-time leader of Allegheny Bancshares in W.Va. to retire in July
Allegheny Bancshares in Franklin, W.Va., has finalized its CEO succession. The $825 million-asset company said in a press release that Neil Hayslett will take on the role on July 13. Hayslett will also become CEO of Pendleton County Bank. Hayslett, the company’s president, will succeed Bill Loving Jr., who will retire. Loving, who has led […]
Eagle in Md. hires Western Alliance exec as its new CEO
Eagle Bancorp in Bethesda, Md., looked outward for its new leader. The company said in a press release that it hired Stephen Curley as its president and CEO, effective July 6. He will also join the board. Curley, who was chief banking officer for national business lines at Western Alliance Bancorp. in Phoenix, will succeed […]
CB Financial in Pennsylvania disclosed AI-powered cybersecurity breach
CB Financial Services in Carmichaels, Pa., disclosed that its bank was the victim of a cyberattack. The company disclosed in a regulatory filing that its bank became aware on May 5 of “an internal incident involving the handling of certain non‑public customer information” using an unauthorized AI-based software application. The bank took measures to secure […]
Androscoggin in Maine, Mascoma in N.H. to merge holding companies
Androscoggin Bank in Lewiston, Maine, and Mascoma Bank in Lebanon, N.H., are planning to merge their holding companies. The merger would result in the creation of ClearNorth Financial Mutual Holding Co. The banks will continue to operate under their own names, charters and boards. Clay Adams, Mascoma’s president and CEO, will be CEO of the […]
Stablecoin-focused clearing bank Augustus secures OCC approval
Augustus has received conditional approval from the Office of the Comptroller of the Currency to form a national bank. Augustus Bank is expected to become a clearing bank built on a stablecoin and AI-native core. The core banking system is built around AI and programmable money. Co-Founder Ferdinand Dabitz will serve as the bank’s CEO. […]
Kraken parent applies for national trust bank charter
Payward, the parent company of crypto exchange Kraken, has applied to the Office of the Comptroller of the Currency for a national trust charter. Co-CEO Arjun Sethi wrote Friday in a blog post that the charter, if approved, would establish Payward National Trust, which would provide fiduciary custody and other services for crypto. “Kraken Financial […]
Fidelity Ban Corp. in Iowa to buy Welcome State Bank in Minnesota
Fidelity Ban Corp. in Independence, Iowa, has agreed to buy Welcome State Bank in Minnesota. The parent of the $2.4 billion-asset BankIowa said in a press release that it expects to buy the $44 million-asset Welcome State later this year. Welcome State also has $38.1 million in deposits. “We will gain access to expanded resources, enhanced products, […]
NexTier in Pa. to buy Riverside Bank of Dublin in Ohio
NexTier in Butler, Pa., has agreed to buy Riverside Bank of Dublin in Ohio. The $2.9 billion-asset NexTier said in a press release that it expects to buy the $270 million-asset Riverside in the third quarter. The price wasn’t disclosed. Travis Sanders, Riverside’s president and chief lending officer, will join the NexTier as regional president […]
Blaze Credit Union to buy Minnesota branch from Luminate Bank
Blaze Credit Union in Minneapolis has agreed to buy a branch from Luminate Bank in Falcon Heights, Minn. The $4.8 billion-asset credit union said in a press release that it will also obtain $25 million of deposits when it buys the Claremont, Minn., branch. The deal is expected to close in early October. “We are […]
C&F in Va. sells insurance agency stake, purges low-yielding securities
C&F Financial in Toano, Va., used the sale of its interest in an insurance agency to sell underperforming securities. The company said in a press release that it will record an $8.3 million pretax gain from selling its stake in Bearing Insurance Group. C&F then sold $72.6 million in securities at a $7.1 million pretax loss. […]
Spring Labs raises $5 million in funding round
Spring Labs in Marina Del Rey, Calif., raised $5 million in a funding round led by BankTech Ventures and Haymaker Ventures. The fintech is building an agentic AI platform to help regulated financial institutions with compliance and operational workflows. “Financial institutions are facing a structural challenge: compliance workloads are growing faster than teams can scale,” John Sun, […]
Failed bank’s former CEO pleads guilty to fraud charge
A former president and CEO of First National Bank of Lindsay pleaded guilty to a single count of bank fraud. The Oklahoma bank failed in October 2024 and was sold to First Bank & Trust in Duncan, Okla. Danny Seibel, who was fired as the bank’s CEO a month before it failed, was indicted last […]
Tri-County Bancorp to buy Mayville Financial in Michigan
Tri-County Bancorp in Brown City, Mich., has agreed to buy Mayville Financial in Mayville, Mich. The parent of the $639 million-asset Tri-County Bank said in a press release that it expects to close the purchase of the $97 million-asset Mayville State Bank in the fourth quarter. The price wasn’t disclosed. “We see in Mayville State […]
SMB-focused fintech Parker shuts down, seeks bankruptcy protection
Parker, a fintech that focused on SMB banking and credit cards, shut down and filed for Chapter 7 bankruptcy protection. The company, which was backed by Valar Ventures, Y Combinator and others, offered a credit card, bill pay, and treasury management services to ecommerce-oriented small businesses. The fintech had partnered with Piermont Bank in banking […]
Partners Bank of California promotes insider as new CEO
Partners Bank of California in Mission Viejo has a new CEO. The bank said in a press release that Michael Chambers will remain its president. He had also been the chief banking officer. “Mike’s promotion reflects the confidence the Board has in his leadership, experience, and commitment to the bank,” Mike Ahmar, the bank’s executive […]
Dime in New York launches equipment and franchise finance group
Dime Commercial Bancshares in Hauppauge, N.Y., has created an equipment and franchise finance group. The company said in a press release that the group will be led by Keith Smith and will focus on middle-market companies and experienced franchise operators. “Launching this new specialty reflects our continued commitment to disciplined and diversified growth,” Stuart Lubow, Dime’s […]
Cambridge Financial in Mass. to buy First Seacoast in New Hampshire
Cambridge Financial Group in Cambridge, Mass., has agreed to buy First Seacoast Bancorp in Dover, N.H. The $7 billion-asset Cambridge said in a press release that it will pay $80.9 million in cash for the $599 million-asset First Seacoast. The deal is expected to close in the third quarter. “At the heart of both institutions […]
OptimumBank in Florida shakes up top leadership
OptimumBank Holdings in Ft. Lauderdale, Fla., has shaken up its management. The company disclosed in a regulatory filing that Timothy Terry had retired as principal executive officer and has president and CEO of its bank. Moishe Gubin, OptimumBank Holdings’ chairman, was named CEO of the company and bank. Braden Smith was named the bank’s president. […]
Zions in Utah to report big gain from selling Visa shares
Zions Bancorp. in Salt Lake City will report a big gain from selling Visa stock. The Salt Lake City company disclosed in a regulatory filing that it sold 460,000 shares it gained in 2007 tied to Visa’s restructuring and public offering. Zions said it will report a $215 million pretax gain from the sale in […]
JPMorgan Chase hires exec to oversee blockchain business
JPMorgan Chase in New York brought back a former executive to run its blockchain business. Oli Harris shared on LinkedIn that he was named head of Kinexys. “The focus ahead: expand our digital settlement infrastructure and tokenization capabilities, strengthen partnerships across public and private networks, and drive innovation at the intersection of TradFi and digital assets,” […]
Fintech Otoma launches with leadership from Fundtech
Otoma, a payments-focused fintech, has new leadership as part of its official launch. The New York fintech said in a press release that Peter Reynolds had become CEO and Reuven Ben Menachem is now chairman. Both had senior roles at Fundtech, a payments technology provider. “Otoma is positioning its platform as an AI-native alternative to […]
Kirkpatrick Bank in Oklahoma selects insider as next CEO
Kirkpatrick Bank in Oklahoma City has a new leader. The bank said in a press release that Kyle Powell had become its president and CEO. Powell, who had been an executive vice president, succeeded George Drew, who is now vice chairman. Drew had been president and CEO of 19 years.
BayFirst in Fla. recapitalizes, replaces CEO
BayFirst Financial in St. Petersburg, Fla., has a new investor and new leadership. The $1.2 billion-asset company said in a press release that it raised $80 million in a private investment of convertible preferred stock. BayFirst also announced that Alfred Rogers had become president and CEO of its bank and will also assume those roles […]
Interra Credit Union in Ind. agrees to buy Ohio bank
Interra Credit Union in Goshen, Ind., has agreed to buy The Hicksville Bank in Ohio. The $2 billion-asset Interra did not disclose what it will pay for the $217 million-asset bank. “This marks an important step in our journey and reflects a shared commitment to community banking, personal relationships, and long-term service,” the bank said […]
Community Bank and Trust – West Georgia is 2026’s second bank failure
Community Bank and Trust – West Georgia in LaGrange became the second bank to fail this year. The $288 million-asset bank was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC struck a deal to sell substantially all the insured deposits and certain […]