Comerica taps insider to oversee national businesses
Comerica in Dallas has tapped an insider to oversee its national lending platforms. The $87 billion-asset company said in a press release Thursday that Mike Ritchie had been named head of national and specialty businesses, a newly created position. He had been Comerica’s Michigan market president since 2013. Steve Davis, who had been Comerica’s senior […]
PNC is latest bank to nix consumer NSF fees
PNC Financial Services Group in Pittsburgh is the latest large bank to eliminate nonsufficient fund (NSF) fees for consumer clients. The $552 billion-asset company did not disclose the financial impact of the move or when it will stop charging the fees. “PNC is focused on building a platform that empowers the financial well-being of its […]
FS Bancorp taps app to make home improvement loans
FS Bancorp in Mountlake Terrace, Wash., has partnered with a fintech to create a loan application portal for home improvement projects. The $2.4 billion-asset company said in a press release that LoanStar Technologies in Swarthmore, Pa., has created a portal to prove bank financing to consumers looking to buy windows, roofs, solar panels and other […]
Middlefield to solve succession issue with Liberty deal
The pending purchase of Liberty Bancshares in Ada, Ohio, will help Middlefield Banc Corp. in Middlefield, Ohio, address a succession issue. The $1.3 billion-asset Middlefield agreed in May to buy the $437 million-asset Liberty for $64.4 million. The companies said at the time the deal was announced that Ronald Zimmerly Jr., Liberty’s president and CEO, […]
Thread Bank to partner with BaaS platform Unit
Thread Bank in Rogersville, Tenn., has formed a strategic partnership with Unit, a Banking-as-a-Service (BaaS) platform. Unit, which helps clients embed financial services into their products, said in a press release Wednesday that the $298 million-asset Thread is one of four banking partners it uses. “In collaboration with Thread, Unit will be able to empower […]
MainStreet in Virginia forms community development unit
MainStreet Bancshares in Fairfax, Va., has formed a community development unit. The $1.8 billion-asset company said in a press release Tuesday that MainStreet Community Capital will focus on distressed, low-income communities around Washington by providing capital and other financial services. “Lifting up communities and unlocking their potential starts with investment, and we intend to use […]
Madonna returns to CEO role at Republic First
Harry Madonna is back at the helm of Republic First Bancorp in Philadelphia. The $5.7 billion-asset company said in a press release Tuesday that Madonna was named interim CEO, effective immediately. Madonna, who was previously named chairman, succeeded Vernon Hill Jr., who resigned. Berry Spevak also resigned from the company’s board. Harris Wildstein was reappointed as […]
Cogent in Fla. enters cannabis banking, other businesses
Cogent Bancorp in Orlando, Fla., has entered four new business lines. The parent of the $1.2 billion-asset Cogent Bank has added teams to focus on blockchain-enabled customers, cannabis banking, premium finance and public finance. Cogent said in a press release that it is working with Green Check Verified, a cannabis-focused fintech, to offer its products […]
Former Reliant banker raises capital for Sonata expansion
A pair with ties to Reliant Bancorp has raised capital to make a national push with a small bank in the Nashville, Tenn., area. Dan Dellinger and Farzin Ferdowsi recently raised $20 million for Sonata Bank, while opening an office in Brentwood, according to published reports. It is the second location for Sonata, which recently […]
Bank of London to open tech office in Charlotte
The Bank of London is planning to open a major office in Charlotte, N.C. The bank said in a press release that it will expand its U.S. footprint by opening a global platform and services headquarters that will employ 350 people. The office should open by 2026. The jobs include software development, compliance and risk, […]
Regions taps insider as director of strategy
Regions Financial in Birmingham, Ala., has promoted an insider to become its new director of strategy and corporate development. The $161 billion-asset company said in a press release that Tom Speir will report to David Turner, its chief financial officer. He succeeded Nikki Stephenson, who recently was named head of credit products. Speir will be […]
Farmers Bank in Tenn. has new investor, chairman
Farmers Bank in Parsons, Tenn., has a new investor. The $46.9 million-asset bank said in a press release Monday that it had “formed a new partnership” with Victorian Finance, a mortgage lender based in Pittsburgh. The bank did not disclose any details about the investment. Sonny Bringol Jr., who led the investment, became the bank’s […]
Horizon in Indiana hires outsider as its president
Horizon Bancorp in Michigan City, Ind., will soon have a new president. The $7.4 billion-asset company said in a press release that Thomas Prame will take on the role, effective Aug. 15. Prame will be tasked with expanding the company’s lending teams, technology, customer relationships and Midwest deposit franchise. Prame “brings extensive strategic leadership and […]
Seacoast to buy Professional Holding in S. Florida
Seacoast Banking Corp. of Florida in Stuart has agreed to buy Professional Holding in Coral Gables, Fla. The $10.8 billion-asset Seacoast said in a press release Monday that it will pay $488.6 million in stock for the $2.7 billion-asset Professional. The deal, which is expected to close in the first quarter, priced Professional at 216% […]
Amerant in Fla. absorbs subsidiary
Amerant Bancorp in Coral Gables, Fla., has absorbed one of its subsidiaries. The $8.2 billion-asset Amerant disclosed in a regulatory filing Friday that Amerant Florida Bancorp was merged into the company. Amerant said that all assets of Amerant Florida Bancorp were vested in the company. Amerant also assumed all obligations of Amerant Florida Bancorp, including […]
Quontic CEO dies in motorcycle accident
The CEO of Quontic Bank in New York has died. Steven Schnall died in a motorcycle accident on the way back from a biking trip to Canada, several media outlets reported. George Lazaridis, a co-founder of the $872 million-asset bank, was named interim CEO. “For decades, and especially since founding Quontic in 2009, Steve was […]
FDIC approves two de novo bank applications
The Federal Deposit Insurance Corp. has given conditional approval for two proposed banks. The FDIC has signed off on the applications for Bank Irvine in California and GS&L Municipal Bank in Gouverneur, N.Y. – with some final steps requires before the banks open. Organizers of Bank Irvine must raise $25 million. GS&L, a commercial bank […]
Nebraska judge backs decision to block CU-bank deal
A judge in Nebraska has sided with the Nebraska Department of Banking and Finance, blocking the purchase of Premier Bank in Omaha by GreenState Credit Union in North Liberty, Iowa. The $7.9 billion GreenState Credit Union agreed in October to buy the $369 million. The state regulator denied GreenState’s application earlier this year, stating that […]
PacWest adds former Chase exec to its board
PacWest Bancorp in Beverly Hills, Calif., has added a banking veteran to its board. The $39 billion-asset company disclosed in a regulatory filing that Stephanie Mudick became a director on Aug. 1 after a recommendation from its compensation, nominating and governance committee. Mudick, who also serves on the board of The Bancorp, was head of […]
Lead Bank in Missouri finds a buyer
Lead Bank in Kansas City, Mo., has been sold to a company tied to former Square Capital leader Jacqueline Reses. The $779 million-asset Lead Bank said in a press release that it was sold on Aug. 1 to Luna Parent. Reses is co-president of Luna. The price was not disclosed. “This acquisition is the culmination […]
Former First NBC exec pleads guilty to conspiracy charge
A former executive at First NBC Bank has admitted to his role in a conspiracy to defraud the New Orleans bank prior to its April 2017 failure. The U.S. Attorney’s Office for the Eastern District of Louisiana said in a press release Tuesday that Robert Calloway, who had been an executive vice president, pleaded guilty […]
CF Bankshares in Ohio shifts mortgage strategy
CF Bankshares in Columbus, Ohio, is no longer selling its mortgage originations to investors. The $1.6 billion-asset company said in a press release Wednesday that it exited the business in the second quarter in favor of portfolio lending with servicing retained. The notional amount of mortgages sold fell to $9.4 million in the second quarter […]
Former Citi compliance chief joins LendingClub board
LendingClub in San Francisco will add two financial services professionals to its board. The digital lender said in a press release Monday that Faiz Ahmad and Kathryn Reimann will become directors on Aug. 15. The company also said that Patricia McCord would step down from the board on Sept. 30. Reimann is an adjunct professor […]
Bank of Burlington cleared to open
Bank of Burlington in South Burlington, Vt., has been cleared to open. Organizers said in a press release that the de novo had received its certificate of insurance from the Federal Deposit Insurance Corp. and a certificate of authority from the State of Vermont Department of Financial Regulation. “We are delighted to announce the opening […]
Grasshopper in NYC raises $30M of capital
Grasshopper Bank in New York has raised $30.4 million of fresh capital. The $305 million-asset bank said in a press release that the investors included Carpenter & Co., Endeavour Capital Advisors, FJ Capital Management, GCP Capital Partners and Patriot Financial Partners. Most of those participants were existing investors. “Our strategic direction is set,” Mike Butler, […]