The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

WaFd to sell multifamily loans gained from Luther Burbank deal

WaFd to sell multifamily loans gained from Luther Burbank deal

WaFd in Seattle is planning to sell a multifamily portfolio it recently gained from an acquisition. The $30.1 billion-asset company said in a press release that it plans to sell up to $3.2 billion of loans it inherited from Luther Burbank Corp. WaFd bought the bank on Feb. 29. “We have engaged a third party to facilitate this process,” Brent Beardall, WaFd’s president and CEO, said in the release. “There

April 23, 2024
Renasant sets stage for CEO succession in 2025

Renasant sets stage for CEO succession in 2025

Renasant in Tupelo, Miss., will have a new leader next year. The $17.4 billion-asset company said in a press release that Kevin Chapman will succeed C. Mitchell Waycaster as CEO in May 2025. Waycaster would remain executive vice chairman, and Chapman will continue to serve as president. Chapman has served on the board since 2018. “Kevin is a dynamic leader with a keen understanding of both corporate banking strategy and

April 23, 2024
Virginia National sells membership interests in Masonry Capital Management

Virginia National sells membership interests in Masonry Capital Management

Virginia National Bankshares in Charlottesville has sold its membership interest in an advisory company. The $1.6 billion-asset Virginia National said in a press release that it sold its membership interests in Masonry Capital Management on April 1 to an officer of the company. Financial terms were not disclosed. Virginia National will receive an annual revenue-share amount for a six-year period.

April 23, 2024
Webster in Conn. posts noisy quarter with securities sales, MSR gains

Webster in Conn. posts noisy quarter with securities sales, MSR gains

Webster Financial in Stamford, Conn., reported slightly lower earnings that reflected a decrease in net interest income and several expenses. The $76.2 billion-asset company said in a press release that its first-quarter profit fell by 2% from a year earlier, to $212.2 million. The quarter included a $11.9 million increase to the Federal Deposit Insurance Corp. special assessment estimate and $3.1 million of Ametros acquisition expenses. The company also recorded a

April 23, 2024
Former U.S. Bancorp exec creates fintech advisory firm

Former U.S. Bancorp exec creates fintech advisory firm

A former U.S. Bancorp executive has formed a fintech consulting firm. Peter Gordon, who was head of emerging payments product and strategy at U.S. Bancorp, announced in a LinkedIn post that he had created Atlantic Fintech Advisors. Atlantic Fintech Advisors will advise on instant payment strategy, scaling payments businesses, and fintech enablement in areas such as virtual account management and Banking-as-a-Service. The company will also help financial institutions with payment

April 22, 2024
Equity Bancshares to buy KansasLand Bancshares

Equity Bancshares to buy KansasLand Bancshares

Equity Bancshares in Wichita, Kan., has agreed to buy KansasLand Bancshares in Quinter.   The $5.2 billion-asset Equity said in a press release that it will gain two branches and $43 million of deposits from buying the $55 million-asset KansasLand Bank. The price wasn’t disclosed.   “This merger underscores our commitment to serving communities across the state, providing people with access to financial services and fostering economic growth,” Brad Elliott,

April 22, 2024
MidFirst in Okla. to buy five Houston branches from Amerant

MidFirst in Okla. to buy five Houston branches from Amerant

MidFirst Bank in Oklahoma City has agreed to buy five Houston branches from Amerant Bancorp in Coral Gables, Fla. The $36.4 billion-asset MidFirst said in a press release that it expects to complete the deal in the second half of this year. The price wasn’t disclosed. The sale includes $576 million of deposits and $529 million of loans. “Houston is a strategic market for us and the acquisition of Amerant

April 22, 2024
Flagship Bank in Fla. hires SouthState exec as its new CEO

Flagship Bank in Fla. hires SouthState exec as its new CEO

Flagship Bank in Clearwater, Fla., has hired a new CEO. The $633 million-asset unit of West Florida Bank Corp. said in a press release that David Key had also become its president. He succeeded James Nelson, who retired but will continue to serve as a senior adviser. “We’re extremely fortunate to be able to transition from one seasoned executive to another and maintain strong continuity in our bank’s culture,” Paul

April 22, 2024

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