First Seacoast Bancorp in Dover, N.H., plans to raise up to $36.3 million from its second-step conversion from a mutual to a fully stock-owned company. The $510 million-asset company said in a regulatory filing that it expects to receive $26.5 million to $36.3 million of net proceeds as part of the conversion. First Seacoast said it plans to invest at least half of the net proceeds in its bank. A portion of

Another former executive at First NBC Bank has pleaded guilty to charges tied to the New Orleans bank’s April 2017 failure. William Burnell, the bank’s chief credit officer from 2006 until its failure, pleaded guilty to conspiracy to defraud First NBC. He was accused of misrepresenting information on monthly reports showing the quality of the bank’s assets. The U.S. Attorney’s Office for the Eastern District of Louisiana alleged in a press release

Citizens Financial Group in Providence, R.I., has agreed to buy College Raptor, an online college planning platform based in Iowa City. The $227 billion-asset Citizens did not disclose the price it will pay. The deal is expected to close in the fourth quarter. College Raptor, founded in 2012, matches prospective students to schools based on academic and financial fit. It also helps those prospects evaluate and select a college. The acquisition “offers unique

Colony Bankcorp in Fitzgerald, Ga., is splitting up the roles of president and CEO.  The $2.7 billion-asset company said in a press release Tuesday that R. Dallis Copeland Jr. had become its president. Copeland, who had been serving as a special adviser to Colony, succeeded Heath Fountain, who remains CEO. Colony said the move follows the decision by M. Eddie Hoyle to retire as chief banking officer on Dec. 31. Copeland, who

VisionBank of Iowa in Ames has agreed to buy Legacy Bank in Altoona, Iowa. The $595 million-asset VisionBank said in a press release that it expects to complete the purchase of the $176 million-asset Legacy in late 2022. The price wasn’t disclosed. “We are confident that the powerful synergies, additional market coverage and financial strength this partnership creates will drive long-term success,” Heather Miller, VisionBank of Iowa’s president and CEO, said in

JPMorgan Chase in New York has agreed to buy Renovite Technologies in Fremont, Calif. The $3.8 trillion-asset company said in a press release Monday that Renovite, a cloud-native payments technology company, will help it build a next-generation merchant acquiring platform. JPMorgan did not disclose the price it will pay. Renovite, founded in 2015, will become part of J.P. Morgan Payments. The tech firm also has offices in India and the United Kingdom.“Renovite’s …

U.S. Bancorp in Minneapolis now expects its pending purchase of MUFG Union Bank to close several months later than previously forecast. Executives at the $558 billion-asset U.S. Bancorp said during a conference appearance Monday that they expect to complete the $8 billion acquisition, announced a year ago, later in the second half of 2022. With the timing pushed back, most of the expense savings will not be realized until after next year.

The Office of the Comptroller of the Currency has named a new chief climate risk officer. The OCC said in a press release Monday that Nina Chen had accepted the post. She will lead the agency’s climate risk efforts tied to supervision, policy and external engagement. Chen will report to Acting Comptroller of the Currency Michael Hsu. "We are fortunate to have someone with her background and experience in both finance and climate-related