Western Alliance to open tech hub in Ohio
Western Alliance Bancorp. in Phoenix plans to open a technology hub in Westerville, Ohio. The $69 billion-asset company said in a press release that it will invest $2.2 million to create 150 jobs for the hub. Western Alliance plans to hire engineers, data analysts, developers, finance specialists and network operators. “The robust talent pipeline, concentration […]
Metropolitan in NY to shut down its crypto business
Metropolitan Bank Holding in New York plans to fully exit the crypto-asset business. The $6.4 billion-asset company said in a press release that the decision “follows a careful review” and reflect recent developments in the crypto space and “material changes” in the regulatory environment regarding banks’ involvement in the business. Metropolitan said it has four […]
First Guaranty in La. to buy Lone Star Bank in Houston
First Guaranty Bancshares in Hammond, La., has agreed to buy Lone Star Bank in Houston. The $3.1 billion-asset First Guaranty said in a press release that it will pay $78.7 million in stock for the $151 million-asset Lone Star. The deal priced Lone Star at 150% of its tangible book value. “First Guaranty Bank’s philosophy […]
Retired Wells Fargo economist forms consulting firm
Mark Vitner, retired chief economist for Wells Fargo, has created his own business. Vitner announced on his LinkedIn page that he had formed Piedmont Crescent Capital, an independent economic consulting firm. Piedmont Crescent aims to provide economic analysis to businesses, state and local governments, and industry trade groups. Vitner, a mainstay at conferences and academic […]
Independent in Mass. hires M&T exec as next CEO
Independent Bank in Rockland, Mass., has selected its next CEO. The $20 billion-asset company said in a press release that Jeffrey Tengel will succeed Christopher Oddleifson on Feb. 6. Tengel, who also joined Independent’s board, previously served as head of commercial specialty banking at M&T Bank. Before that, he was president of People’s United Financial, […]
Hope Bancorp brings back retired exec in interim role
Hope Bancorp in Los Angeles is bringing back one of its retired executives on an interim basis. The $19.1 billion-asset company said that David Malone is returning to serve as interim chief financial officer. He will succeed Alex Ko, who resigned “to pursue other opportunities” but will serve as a consultant through March 31. Hope […]
Parkway Acquisition in Va. rebrands as Skyline Bankshares
Parkway Acquisition in Independence, Va., has changed its name to match its bank brand. The parent of the $1 billion-asset Skyline National Bank disclosed in a regulatory filing that it amended its articles of incorporation to become Skyline Bankshares. Parkway was created in July 2016 when Grayson Bankshares and Cardinal Bankshares merged. The surviving bank […]
HNB Bancorp to buy Northeast Missouri Bancshares
HNB Bancorp in Hannibal, Mo., has agreed to buy Northeast Missouri Bancshares in Louisiana, Mo. The parent of the $649.9 million-asset HNB National Bank said in a press release that it expects to complete the purchase of Northeast Missouri in the second quarter. The price wasn’t disclosed. Northeast Missouri is the holding company for the […]
Encore Bank in Ark. adds banking vet to board
Encore Bancshares in Little Rock, Ark., has added a Florida banker to its bank’s board. The company said in a press release that Rita Lowman is one of three new directors at the $2.8 billion-asset Encore Bank. Lowman was president of Pilot Bank in Tampa, Fla., which was sold last year to Lake Michigan Credit […]
Minnesota credit union hires banker as next CEO
Mid Minnesota Federal Credit Union in Baxter, Minn., has hired a banking veteran as its president and CEO. The $661 million-asset credit union said in a press release that Bob Gerads succeeded Chuck Albrecht, who retired last year. Gerads was the chief deposit officer at Falcon National Bank in Foley, Minn. “I know I speak […]
First Business in Wis. reshuffles exec positions
First Business Financial Services in Madison, Wis., has a new president. The $2.9 billion-asset company said in a press release that Dave Seiler will remain its chief operating officer. Seiler, who joined the company in 2016, oversees all revenue-generating business lines and various internal operations areas. Seiler succeeded Corey Chambas, who remains the company’s CEO. […]
Retired CBA leader joins BCG as senior adviser
Richard Hunt is finding ways to stay busy after retiring as CEO of the Consumer Bankers Association. Hunt announced on his LinkedIn page that he had become a senior adviser at Boston Consulting Group and an advisory board member at SentiLink. Hunt led the CBA from 2009 until his retirement last summer.
Pacific West in Oregon forms holding company
Pacific West Bank in West Linn, Ore., has formed a holding company. The $291.3 billion-asset bank said in a press release that it is now a unit of Pacific West Bancorp. “The formation of the holding company will provide more efficient access to capital when the need arises and will put the bank in the […]
Securrency hires head of State Street Digital as its CEO
Securrency, a cryptocurrency infrastructure startup, has hired the head of State Street Digital as its CEO. Nadine Chakar will take over the role on Monday, succeeding Dan Doney, who became chief technology officer. Chakar also led State Street Global Markets, where she oversaw its trading, product and operations platform. She has served on Securrency’s board […]
CIBM Bank in Ill. expanding mortgage ops to six states
CIB Marine Bancshares in Champaign, Ill., plans to expand its mortgage lending operations into six states The parent of the $755 million-asset CIBM Bank said that it plans to hire about 30 loan officers as part of an expansion into Arizona, Connecticut, Florida, New York, Massachusetts and Rhode Island. The push is expected […]
Cybersecurity, credit risk top of mind for community bankers
Community bankers said cybersecurity and credit risk are their biggest challenges in 2023. About 85% of the more than 100 respondents polled by the Risk Management Association that they were concerned about cybersecurity, while 84% pointed to credit risk. The survey, conducted last summer, featured executives at banks with $10 billion or less of assets. […]
Carver State in Georgia set for leadership change
Carver State Bank in Savannah, Ga., didn’t have to look to far to find its next leader. Robert James Sr. is set to retire from the $79.5 million-asset bank. His son, Robert James II, will take over the bank’s day-to-day operations, according to Georgia Public Broadcasting News. “My son has become extremely involved in the […]
FirstPerryton in Texas raises $37M via private placement
FirstPerryton Bancorp in Perryton, Texas, has raised $37.3 million through a private placement of common stock. The parent of the $1.5 billion-asset FirstBank Southwest completed the placement on Dec. 29, according to data compiled by Performance Trust Capital Partners. Banks raised nearly $4.2 billion in 2022 from selling common stock, including $168 million in the […]
Silvergate cuts 40% of staff, tabling blockchain project
Silvergate Capital in La Jolla, Calif., said it will cut 40% of its workforce and table plans for a blockchain-based payment solution after losing $8.1 billion of digital asset deposits during the fourth quarter. The $15.5 billion-asset company, which is dealing with deposit outflows in its digital assets business, said in a press release that […]
Fulton in Pa. names insider as president of its private bank
Fulton Financial in Lancaster, Pa., has promoted an insider to serve as president of its private bank. The $26 billion-asset company said in a press release that Dara Bachman is now responsible for leading a team of professionals charged with developing customized wealth management and banking solutions for high-net-worth clients. Bachman, who joined Fulton in […]
First Financial in Ohio buys M&A advisory firm
First Financial Bancorp in Cincinnati has acquired financial advisory firm Brady Ware Capital. The $16.6 billion-asset company said in a press release that it bought the Dayton, Ohio, firm’s assets. The price wasn’t disclosed. Brady Ware Capital advises owners of small and midsize businesses on M&A and other financial moves. “With the addition of investment […]
First State Bank in Kansas has new president, CEO
First State Bank and Trust in Tonganoxie, Kan., has a new president and CEO. The $437 million-asset bank named Jilinda White as its CEO and Chuck Kirmse as president, according to the Kansas City Business Journal. They succeeded Bill White, who retired. White also serves as the bank’s vice chairman and president of Tonganoxie Bankshares, […]
Regent in Okla. makes push into venture banking
Regent Bank in Tulsa, Okla., has hired a veteran tech executive to oversee a push into venture banking. The $1.1 billion-asset bank said in a press release that Peter Mullen had become its director of venture and tech banking, where he will lead relationship development for tech communities in Oklahoma and Missouri. “Tech and innovation are the future […]
Renasant buys national commercial finance company
Renasant in Tupelo, Miss., has acquired commercial finance company Republic Business Credit. The $16.5 billion-asset company said in a press release that it bought the New Orleans finance company, formerly known as Continental Republic Capital, on Dec. 30. The price wasn’t disclosed. Republic Business Credit, founded in 2011, is a national platform focused on factoring […]
WaFd CEO expected to recover after plane crash
Brent Beardall, president and CEO of Washington Federal in Seattle, is in stable condition after a private plane he was on crashed in Provo, Utah. The $20.8 billion-asset company said in a press release that Beardall was taken by ambulance to the hospital for surgery with multiple injuries, including broken bones and lacerations. He is […]