Encore in Ark. to bank community associations
Encore Bank in Little Rock, Ark., has hired a banker to create a business line geared toward community associations. The $1.8 billion-asset bank said in a press release that Patti DuBuque will oversee the new division as director of association banking. DuBuque “is a results-oriented leader with proven success in expanding orientations and surpassing business […]
Columbia in Wash. to enter Utah after banker hires
Columbia Banking System in Tacoma, Wash., will enter Utah after hiring commercial bankers in Salt Lake City. The $21 billion-asset company said in a press release Tuesday that it hired Jeffrey Thomas and James Divver to join its business lending division. The bankers will be responsible for building a team in the market. “Our expansion […]
‘The Girl Banker’ lands market president role in Arkansas
A banker well known for her advocacy for women in the financial services industry has landed a new job. First Community Bank in Batesville, Ark., said in a press release Tuesday that it had hired Natalie Bartholomew as its community president in Rogers, Ark. Bartholomew will be responsible for establishing the bank’s presence in the […]
Revolut promotes insider to run U.S. operations
Revolut has named an insider to oversee the neobank’s efforts in the United States. The company said in a press release that Sid Jajodia is its U.S. CEO. Jajodia will remain Revolut’s chief banking officer, a role he has held since joining the company a year ago. Revolut launched in the U.S. in March 2020, […]
How rising rates impacted pricing of a Fla. bank deal
Rising interest rates led Seacoast Banking Corp. of Florida in Stuart to reduce its offer for Drummond Banking Co. in Chiefland, Fla., by more than 10%. The $10.9 billion-asset Seacoast agreed in early May to buy the $985 million-asset Drummond for $173.2 million in stock. Seacoast proposed paying $194.4 million in cash and stock when […]
Pinnacle in Nebraska to buy Crockett National in Texas
Pinnacle Bancorp in Lincoln, Neb., has agreed to buy Crockett National Bank in San Antonio, Texas. The $7.6 billion-asset Pinnacle said that its purchase of the $630 million-asset Crockett National should close in the second half of this year. The price wasn’t disclosed. Crockett National has five branches and two loan-production offices. Todd Huckabee, Crockett […]
First Bank of Highland Park in Illinois rebrands
First Bank of Highland Park in Illinois has changed its name to First Bank Chicago. The $1.9 billion-asset bank said the change reflects a brand that it has been using with its commercial clients. The new brand “allows us to reach more clients and continue our growth throughout the Chicago metro area,” Eric Ephraim, the […]
Customers formally ending deposit servicing pace
Customers Bancorp in West Reading, Pa., has given formal notice to end its deposit servicing agreement with BM Technologies. The agreement, which has been in place since January 2021, is set to end on Dec. 31. The $19.6 billion-asset Customers announced in January that it planned to end the relationship, noting that the move should […]
BOK looking for new CEO for Texas operations
BOK Financial in Tulsa, Okla., is looking for a new leader for its Texas operations. The $46.8 billion-asset company said in a regulatory filing Friday that Norm Bagwell will step down as CEO of Bank of Texas on Dec. 31. Bagwell “will support the organization’s talent and business development activities on a part-time basis” after […]
BMO Harris takes bite out of overdraft, NSF fees
BMO Harris Bank in Chicago is reducing its overdraft and nonsufficient funds (NSF) fees for consumer and small business banking accounts. The $167 billion-asset unit of Bank of Montreal said in a press release Thursday that it will eliminate overdraft transfer fees on July 12 and do away with NSF fees on Aug. 23. Overdraft […]
Former Cape Cod CEO joins university’s board of trustees
Dorothy Savarese, who recently retired as president and CEO of Cape Cod Five Cents Savings Bank in Hyannis, Mass., has joined the board of trustees at Suffolk University in Boston. Savarese, who remains the $4.6 billion-asset bank’s chairman, was its CEO for more than 17 years. She was succeeded as CEO by Matt Burke and […]
ICBA reiterates stance against CBDC
The Independent Community Bankers of America has reiterated its opposition to a U.S. Central Bank Digital Currency (CBDC). The trade association said in a comment letter to the Commerce Department that it wants the government to step up oversight of digital assets, including cryptocurrency. The ICBA made several arguments in the letter: Digital assets present […]
New Peoples in Va. discloses ‘cybersecurity incident’
New Peoples Bankshares in Honaker, Va., disclosed that its recent systems issues resulted from a cyberattack. The $813 million-asset bank disclosed on its website that it first experienced aninterruption to the operability of its computer systems on June 15. An investigation by a third-party cybersecurity firm found that an unauthorized person gained access to those […]
Western Alliance enters Utah with business banker hires
Western Alliance Bancorp. in Phoenix has entered Utah after hiring a team of business bankers. The $60 billion-asset company said in a press release Wednesday that the bankers will be based in Salt Lake City. The bankers have expertise in real estate, construction and equipment loans, SBA financing, lines of credit and working capital. Seth […]
NorthEast Community in N.Y. brings back former director
NorthEast Community Bancorp in White Plains, N.Y., has brought back a familiar face to its board. The $1.3 billion-asset company disclosed in a regulatory filing Wednesday that Linda Swan had become a director on June 23. She also joined the board of unit NorthEast Community Bank. Swan was a director of NorthEast Community Bancorp, a […]
New York Community, Circle form custodian partnership
New York Community Bancorp in Westbury has formed a partnership with Circle Internet Financial in Boston where the bank will become a custodian for USD Coin reserves. The $61 billion-asset New York Community and Circle will collaborate on strategies for using Circle blockchain and stablecoin solutions to promote access to low-cost financial solutions for underserved and […]
Three banks submitted bids for PCSB Financial
PCSB Financial in Yorktown Heights, N.Y., fielded acquisition offers from three banks before deciding to deal exclusively with Brookline Bancorp in Boston. The $8.6 billion-asset Brookline agreed to buy the $2 billion-asset PCSB in May for $313 million in cash and stock. PCSB decided to seriously consider selling in November when its board assessed challenges […]
Landmark to buy Freedom Bancshares in Kansas
Landmark Bancorp in Manhattan, Kan., has agreed to buy Freedom Bancshares in Overland Park, Kan. The $1.3 billion-asset Landmark said in a press release Tuesday that it will pay $33.4 million in cash for the $223 million-asset Freedom. The deal is expected to close in the fourth quarter. Freedom “has been a strong commercial bank […]
Former First Republic exec lands new CEO post
The former co-CEO of First Republic Bank in San Francisco has been named CEO of a growth-minded real estate finance company. Greystone said in a press release that Hafize Gaye Erkan will succeed Steve Rosenberg, who will remain chairman. Her executive responsibilities will begin in September. Erkan stepped down as co-CEO of First Republic earlier […]
How Cambridge landed deal for Northmark Bank
Northmark Bank in North Andover, Mass., had in-depth discussions to sell to another bank months before agreeing to be sold to Cambridge Bancorp in Massachusetts. The $5 billion-asset Cambridge agreed in May to buy the $442 million-asset Northmark for $63 million in stock. Northmark, however, had exclusive negotiations with another bank between December 2021 and […]
CSBS taps insider as next president and CEO
Jim Cooper was named president and CEO of the Conference of State Bank Supervisors. Cooper has been serving as acting president and CEO since the unexpected death of John Ryan on May 16. Cooper has been the director of policy and supervision at the CSBS for nine years. Before that, he was deputy director at […]
UMB to buy Old National’s HSA business
UMB Financial in Kansas City, Mo., has agreed to buy the health savings account business of Old National Bancorp in Evansville, Ind. The $40.6 billion-asset UMB said in a press release Monday that it will obtain about $500 million of client assets. About $400 million of those assets are held in deposit accounts. The assets […]
Avidia Bank CEO to retire in 2023
Avidia Bank in Hudson, Mass., is on the lookout for a new CEO. The $2.4 billion-asset bank said in a press release Monday that Mark O’Connell, who is also its president, will retire in May 2023. O’Connell, who joined a predecessor bank in 1988, has been president and CEO since 2004. “I’m really proud of […]
Tenn. bank commish still looking to stop CU-bank deal
Greg Gonzales, the commissioner of the Tennessee Department of Financial Institutions, has appealed a judge’s decision that would allow Orion Credit Union to buy Financial Federal Bank. Gonzales argued in his appeal, filed on June 14, that depositors of the bank would be “irreparably harmed and disrupted” if the acquisition closes. He also argued that […]
Organizers plan new bank in Arizona
A group with ties to a wealth management firm in Scottsdale, Ariz., has applied to form a bank in the city. Organizers of Zenith Bank & Trust applied with the Federal Deposit Insurance Corp. on June 23 for deposit insurance. The group plans to register with the Federal Reserve to make Zenith Financial Holding […]