Five Rivers Bank in N.J. hires industry vet as new CEO
Five Rivers Bank in Paramus, N.J., has a new CEO. The bank said in a press release that Thomas Coughlin had also become its president. Coughlin founded Bayonne Community Bank in New Jersey in 2000 and built it to $3.8 billion of assets when it he ended his tenure. He will succeed C. Mark Campbell. […]
Cash management platform Lorum seeks national trust charter
Lorum has joined a fast-growing list of companies applying for a national trust charter. The multicurrency clearing and cash management platform applied to the Office of the Comptroller of the Currency on March 31 to create Lorum National Trust Bank. The charter would allow Lorum to seek a Federal Reserve account. That, in turn, would […]
Mt. McKinley Bank in Alaska selects insider as new CEO
Mt. McKinley Bank in Fairbanks, Alaska, has a new leader. The $640.7 million-asset bank said in a LinkedIn post that David Durham had become its president and CEO. “David brings a strong vision for the future and a deep commitment to the communities we serve,” the post said. “Under his leadership, the bank will continue […]
ICBA-led effort presses FDIC to reconsider deposit insurance for Edwards Jones
A large group of banking associations is petitioning the Federal Deposit Insurance Corp. to reconsider its decision to approve deposit insurance for Edward Jones. The FDIC gave the brokerage firm conditional approval in February. Edward Jones reapplied for an industrial loan charter in April 2025, resuming an effort it abandoned in late 2022. The Independent […]
Coinbase receives conditional OCC approval for trust charter
Coinbase received conditional approval for a national trust charter from the Office of the Comptroller of the Currency. The approval “is the result of years of investment in compliance, engagement with regulators, and belief that the right path forward for crypto is through the system — not around it,” Greg Tusar, co-CEO of Coinbase Institutional, […]
Community Bank Owatonna in Minnesota appoints new CEO
Community Bank Owatonna in Minnesota has a new CEO. The $98.4 million-asset bank said that Derek Skala had also become its president. Skala was vice president of credit, risk and business development at Central Farm Service. Skala “has built his banking career through progressive leadership roles with experience in credit administration and relationship management, along […]
Proposed Bank of St. George to have single financial backer
Bruce Jensen is again looking to lead a de novo bank in Utah. Jensen is the proposed CEO of Bank of St. George, which recently applied to the Federal Deposit Insurance Corp. He was also set to lead a bank with the same name that received conditional FDIC approval in 2019 but ultimately did not […]
Quaint Oak in Pa. freed from BSA-related consent orders
Quaint Oak Bancorp in Southampton, Pa., has been freed from May 2025 enforcement actions. The company disclosed in a regulatory filing that its bank was released from consent orders from the Federal Deposit Insurance Corp. and the state of Pennsylvania. The orders were tied to the bank’s compliance with the Bank Secrecy Act and followed […]
Longhorn Medical Holdings seeks BHC to buy Robert Lee State Bank
Longhorn Medical Holdings in Tyler, Texas, has applied to become a bank holding company so it can buy Robert Lee Bancshares in Robert Lee, Texas. Longhorn plans to form Ranger Bank to absorb the $44 million-asset Robert Lee State Bank. The price wasn’t disclosed. Commerce Street Capital advised the buyer.
Iowa Trust appoints top credit exec as next CEO
Iowa Trust & Savings Bank in Emmetsburg has a new leader lined up. The $523 million-asset bank said that Scott Menke will become CEO on April 21. Menke, who is the bank’s chief credit officer, will succeed Kris Ausborn, who is retiring.
Houston group applies to form de novo Alba Bank
A group in Houston is planning to open a new bank. Organizers on March 31 applied to the Federal Deposit Insurance Corp. for deposit insurance for the proposed Alba Bank. The application wasn’t immediately available. A legal notice tied to the application lists five organizers: George Martinez, Richard Figueroa, William Woodby, Gregg Reyes and Thomas Reiser. […]
Bolivian banking family behind push for South Florida de novo
The group looking to form Tidestone Bank in Coral Gables, Fla., already have banking chops. Organizers include members of the Monasterio family, who own Banco Ganadero in Bolivia, and Lou Ferreira, a former national bank examiner. Ferreira, set to become president and CEO, was previously brought in to remediate issues at Eastern National Bank in Miami, which […]
Pinnacle in Ga. rebrands at Vallant as part of Morris State acquisition
Pinnacle Financial in Elberton, Ga., rebranded after it acquired Morris State Bancshares in Dublin, Ga. The $4 billion-asset Pinnacle became Vallant Financial just before the deal closing. The combined bank was legally rebranded as Vallant Bank, though the predecessor brands will remain in place until the systems conversion later this quarter.
FedFis founder Dave Mayo dies
Dave Mayo, who founded FedFis and Bankers Helping Bankers, has died. FedFis announced Mayo’s passing via a LinkedIn post. “Dave may no longer be with us, but his spirit lives on in the community he built,” the post said. “Every time you share a memory and tag Bankers Helping Bankers, you’re keeping that spirit alive […]
Hope in California to gain low-cost deposits from SMBC MANUBANK deal
Hope Bancorp in Los Angeles has agreed to buy the commercial banking unit of SMBC MANUBANK. The $18.5 billion-asset Hope said in a press release that it will enter into a collaboration and partnership agreement with Sumitomo Mitsui Banking Corp. to provide commercial and consumer banking services to SMBC’s Japanese midsize business and retail customers. […]
Edgar County Banc Shares to buy Preferred Bancorp in Illinois
Edgar County Banc Shares in Paris, Ill., has agreed to buy Preferred Bancorp in Casey, Ill. Edgar County, the parent of the $676 million-asset Prospect Bank, said in an announcement that it plans to buy the holding company for the $73.3 million-asset Preferred Bank later this year. The price wasn’t disclosed. Preferred Bank President Kenneth […]
Cross River Bank in New Jersey raises $50 million
CRB Group in Fort Lee, N.J., has raised $50 million to fuel growth initiatives at Cross River Bank. The company said in a press release that the funding round included existing investors, including accounts advised by T. Rowe Price Investment Management. “We’re proud to announce that T. Rowe Price deepened its investment in Cross River,” […]
Intercredit Bank in Miami moves to digital-only model
Intercredit Bank in Miami plans to close its branches and shift to a digital-only strategy using its Pibank brand. Pibank, launched in the United States in 2024, has more than $2 billion of assets. The move to a branchless, cashless, digital-first model should be completed by this summer. “The transition to a fully digital model […]
Eagle in Md. invalidates activist’s board nominees, proposes new director
Eagle Bancorp in Bethesda, Md., tossed out three board nominees proposed by activist investor Diligence Capital Management. The company disclosed in a regulatory filing that it invalidated the nominees, along with four shareholder proposals from Diligence, because the investor’s notice failed to comply with its amended bylaws. Eagle also said that Diligence was not a […]
North Salem State applies to buy stake in Tri-County Bancorp in Indiana
North Salem State Bancorp in North Salem, Ind., is proposing to buy a minority stake in Tri-County Bancorp in Roachdale, Ind. North Salem is proposing to acquire a 13.08% stake in the $295.7 million-asset Tri-County. The pricing wasn’t disclosed. Tri-County has $204.3 million in loans.
Fidelity in N.C. to expand in Georgia with Affinity acquisition
Fidelity BancShares in Fuquay-Varina, N.C., has agreed to buy Affinity Bancshares in Covington, Ga. The $4.6 billion-asset Fidelity said in a press release that it will pay $142.8 million in cash for the $882 million-asset Affinity. The deal is expected to close in the third quarter. “The acquisition “brings together two community‑focused organizations that share […]
Carter Bankshares in Va. unloads loans tied to Sen. Jim Justice
Carter Bankshares in Martinsville, Va., has severed ties with its biggest and most problematic business relationships. The $4.9 billion-asset company disclosed in a regulatory filing that it sold a batch of nonperforming loans connected to Sen. Jim Justice (R-W.Va.) and his family. Carter said it sold loans with an aggregate principal amount of roughly $209.5 […]
Heritage Bank in Minnesota taps COO to become new leader
Heritage Bank in Willmar, Minn., has a new leader. The bank said that Robert Mathiasen will become its CEO on April 1. Mathiasen, who is chief operating officer, will succeed Tom Geiger, who will remain chairman. “I am deeply honored to carry forward the Geiger family’s philosophy of banking,” Mathiasen said in a press release. […]
Riverview in Washington sells lower-yielding securities
Riverview Bancorp in Vancouver, Wash., sells a large batch of securities. The $1.5 billion-asset company said in a press release that it sold $149.3 million in lower-yielding investment securities at an estimated pretax loss of $11.4 million. The move happened after Riverview reclassified all of its bonds as available-for-sale. Riverview said it expects to reinvest […]
Plaid buys This Week in Fintech media platform
Plaid bought media platform This Week in Fintech. Plaid announced the acquisition in a LinkedIn post. The price wasn’t disclosed. “We are huge fans of what TWIF has evolved into, and plan to help it grow with more resources, more formats, and more ways for the community to connect — all while preserving the editorial […]