The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

New Peoples in Va. looks within for next CEO

New Peoples in Va. looks within for next CEO

New Peoples Bankshares in Honaker, Va., will soon have a new leader. The $826.3 million-asset company said in a press release that C. Todd Asbury will step down as president and CEO on March 31. James Kiser, bank president and CEO, will succeed Asbury, who will become a senior advisor through May 31, 2025. Asbury will remain on New Peoples’ board until its 2025 annual meeting.

February 28, 2024
Esquire in N.Y. planning Los Angeles branch

Esquire in N.Y. planning Los Angeles branch

Esquire Financial Holdings in Jericho, N.Y., is headed to Southern California. The $1.6 billion-asset company said in a press release that it plans to open a branch in Los Angeles. The release did not give a timeline for opening the location. The branch “underscores our commitment to meeting the needs of law firms nationally and our confidence in the vitality of the litigation market,” Tony Coelho, Esquire’s chairman, said in

February 28, 2024
Wells recruits Chase exec to serve as vice chairman

Wells recruits Chase exec to serve as vice chairman

Wells Fargo in San Francisco has recruited a former JPMorgan Chase executive to serve as its vice chairman. The $1.9 trillion-asset company said in a press release that Doug Braunstein will assist in growing its corporate finance and advisory businesses. Braunstein spent two decades at JPMorgan Chase, where he held several executive management roles, including CFO and vice chairman. He also served as head of JPMorgan Chase’s Americas investment banking business. “Doug

February 28, 2024
Southern States in Alabama to buy CBB Bancorp in Georgia

Southern States in Alabama to buy CBB Bancorp in Georgia

Southern States Bancshares in Anniston, Ala., has agreed to buy CBB Bancorp in Cartersville, Ga. The $2.5 billion-asset Southern States said in a press release that it will pay $27 million in cash and stock for the parent of the $310 million-asset Century Bank of Georgia. The deal, which is expected to close in the third quarter, priced CBB at 126% of its tangible book value. Southern States said about

February 28, 2024
Citizens National in Ohio taps insider as next CEO

Citizens National in Ohio taps insider as next CEO

Citizens National Bank in Bluffton, Ohio, has a new CEO. The $987 million-asset bank said in a press release that Eric Faulkner had succeeded Mike Romey. Faulkner, who joined the bank in 2009, has been acting president since 2019.

February 27, 2024
Stockton Bancshares to buy Coffeyville Bancorp in Kansas

Stockton Bancshares to buy Coffeyville Bancorp in Kansas

Stockton Bancshares in Stockton, Kan., has agreed to buy Coffeyville Bancorp in Coffeyville, Kan. Stockton, the parent of the $310 million-asset Solutions North Bank, said in a press release that it expects to buy the holding company for the $180 million-asset Community State Bank in the second quarter. The price wasn’t disclosed. Community State has one branch, $86 million of loans and $157 million of deposits. “As part of our

February 27, 2024
Fortuna Bank in Ohio secures conditional FDIC approval

Fortuna Bank in Ohio secures conditional FDIC approval

Organizers of the proposed Fortuna Bank in Grandview Heights, Ohio, have received conditional approval from the Federal Deposit Insurance Corp. Ilaria Rawlins, who would serve as the bank’s president and CEO, confirmed the approval in a message to The Bank Slate. She said the FDIC is requiring her group to raise $20 million. Rawlins added that organizers are about 60% to that goal. Organizers applied with the FDIC in February

February 24, 2024
Zions to shuffle execs following two retirements

Zions to shuffle execs following two retirements

Zions Bancorp. in Salt Lake City has shaken up its executive ranks following two retirements. The $87 billion-asset company said in a press release that A. Scott Anderson will retire as president and CEO of Zions Bank on April 1. He will become the bank’s non-executive chairman. Paul Burdiss, Zions’ chief financial officer, will succeed Anderson as bank president and CEO, while R. Ryan Richards will become the company’s CFO.

February 24, 2024