The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

Otting named chairman of New York Community Bancorp

Otting named chairman of New York Community Bancorp

Joseph Otting has added another title at New York Community Bancorp in Hicksville. The $112.9 billion-asset company said in a press release that Otting had become its chairman. He had recently been named president and CEO after investors infused about $1 billion into the company. Alessandro. DiNello, who was chairman, will remain on the board and will serve as a senior advisor to Otting. New York Community said that the

June 4, 2024
D.L. Evans to buy Idaho branch from First Interstate

D.L. Evans to buy Idaho branch from First Interstate

D.L. Evans Bank in Burley, Idaho, has agreed to buy a branch in Ketchum, Idaho from First Interstate BancSystem in Billings, Mont. The $3.2 billion-asset D.L. Evans applied with the Federal Deposit Insurance Corp. to buy the branch, which had $21.5 million of deposits in mid-2023. The price wasn’t disclosed. The deal is expected to close in August.

June 4, 2024
ELGA Credit Union to buy Marine Bank in Florida

ELGA Credit Union to buy Marine Bank in Florida

ELGA Credit Union in Grand Blanc, Mich., has agreed to buy Marine Bank & Trust in Vero Beach, Fla. The $1.5 billion-asset credit union said in a press release that it will pay $43.75 a share in cash for the $650 million-asset unit of Marine Bancorp of Florida. The deal is expected to close early next year. The acquisition "will foster those relationships with our members and the communities we

June 4, 2024
Seacoast in Fla. taps banking veteran to join its board

Seacoast in Fla. taps banking veteran to join its board

Seacoast Banking Corp. of Florida in Stuart added a banking veteran to its board. The $14.8 billion-asset company disclosed in a regulatory filing that Eddy Arriola became a director on June 4. He also joined the board of Seacoast National Bank. Arriola was a market executive at Seacoast after it bought Apollo Bancshares, where he was chairman and CEO.

June 3, 2024
German American in Indiana sells insurance business

German American in Indiana sells insurance business

German American Bancorp in Jasper, Ind., has sold its insurance business. The $6.1 billion-asset company said in a press release that it sold the assets of German American Insurance to Hilb Group for $40 million in cash. The after-tax gain was $27 million. The sale “ensures the continued access to the best insurance products and services for our customers and provides a great new home for GAI’s employees,” D. Neil

June 3, 2024
ICBA hires former MVB fintech banker to run payments services unit

ICBA hires former MVB fintech banker to run payments services unit

The Independent Community Bankers of America tapped an industry veteran to lead its payments services subsidiary. The ICBA said in a press release that Jacob Eisen had become president and CEO of ICBA Payments. Eisen previously served as president of fintech banking at MVB Bank. Eisen’s "extensive experience and forward-thinking approach align perfectly with our mission to empower community banks with cutting-edge payment solutions," Kevin Tweddle, senior executive vice president

May 31, 2024
Affinity Bank in Ga. selling to Atlanta Postal Credit Union

Affinity Bank in Ga. selling to Atlanta Postal Credit Union

Atlanta Postal Credit Union has agreed to buy Affinity Bank in Covington, Ga. The $2.5 billion-asset credit union said in a press release that it will pay $22.50 a share in cash for the $870 million-asset unit of Affinity Bancshares. The deal is expected to close in the fourth quarter or the first quarter of 2025. “For nearly 100 years, Affinity Bank has successfully served both small businesses and individuals

May 30, 2024
Merrick Bank buys $500M of loan participations from GreenSky

Merrick Bank buys $500M of loan participations from GreenSky

Merrick Bank in South Jordan, Utah, bought about $500 million of home improvement loan participations from GreenSky Holdings. CardWorks, the parent company for the $6 billion-asset Merrick, said in a press release that it also entered into a forward flow agreement with GreenSky to buy more loan participations. The financial details weren’t disclosed. The deal is tied to CardWorks’ equity investment in the point-of-sale lender, which Goldman Sachs divested in

May 30, 2024

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