The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

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
Affiliated Arkansas banks plan to merge

Affiliated Arkansas banks plan to merge

Commercial Bank & Trust of Monticello in Arkansas will absorb First State Bank of Warren in Arkansas. The $253 million-asset Commercial Bank and the $118 million-asset First State are both owned by the Ryburn family. The merger is scheduled for June 24. “Joining the two banks together will remove back-office redundancies and allow us to offer greater convenience and better products and services such as enhanced technology for customers," Todd

April 22, 2024
AmeriServ in Pa. reaches truce with investor SB Value Partners

AmeriServ in Pa. reaches truce with investor SB Value Partners

AmeriServ Financial in Johnstown, Pa., has reached a cooperation agreement with investor SB Value Partners.   SB Value Partners, which owns about 7.7% of the $1.4 billion-asset AmeriServ’s common stock, agreed to back the board’s nominees and support its recommended proposals at upcoming shareholder meetings.   SB Value Partners and AmeriServ will regularly consult regarding financial performance metrics, business development and other similar matters.   AmeriServ said in a press

April 22, 2024
Northwest Bancshares in Ohio to reposition securities portfolio

Northwest Bancshares in Ohio to reposition securities portfolio

Northwest Bancshares in Columbus, Ohio, plans to reposition its securities portfolio. The $14.5 billion-asset company said in a press release that it will sell up to 15% of its investment securities portfolio. Northwest expects to recognize a $40 million pretax loss from the sales. Proceeds will initially be used to lower borrowings while also reinvesting into securities with similar risk, maturity and duration characteristics. The company said it expects a

April 22, 2024
U & I Financial in Wash. reports 4Q loss tied to equipment finance business

U & I Financial in Wash. reports 4Q loss tied to equipment finance business

U & I Financial in Lynnwood, Wash., restated its fourth quarter results – leading a big net loss – and suspended its dividend after issues surfaced in its equipment finance business.   The $610 million-asset company said it lost $18 million after increasing its loan-loss provision from $3.1 million to $26.1 million. The issues are tied to a business where its finances borrowers purchase of equipment from manufacturers.   A

April 19, 2024

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