The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

Fulton in Pennsylvania forms capital markets business

Fulton in Pennsylvania forms capital markets business

Fulton Financial in Lancaster, Pa., has created a capital markets business. The $32.1 billion-asset company said it created the operation after naming Christopher Bigos as head of capital markets. Bigos previously served as a senior vice president of commercial real estate at Fulton. “As our clients continue to grow, we want to be there to provide the solutions they need,” John Glover, the bank's head of commercial banking, said in

February 7, 2025
First Bancorp in N.C. promotes insider to serve as bank CEO

First Bancorp in N.C. promotes insider to serve as bank CEO

First Bancorp in Southern Pines, N.C., has a new bank CEO. The company said in a press release that G. Adam Currie took over the post from Michael Mayer. Currie will remain the bank's president. “This transition is the culmination of a succession plan that has been in place for many years,” Richard Moore, the company's chairman and CEO, said in the release. Currie “has demonstrated his astute knowledge of

February 6, 2025
CB Financial in Pa. cutting staff, parts ways with CFO

CB Financial in Pa. cutting staff, parts ways with CFO

CB Financial Services in Carmichaels, Pa., laid off seven employees and announced the resignation of its chief financial officer. The $1.5 billion-asset company said in a regulatory filing that the layoffs account for about 5% of its staff. The company also entered into a severage agreement with Jamie Prah that includes $558,000 in severance. Including that payout, CB Financial said it should incur about $1 million in pretax charges tied

February 6, 2025
Northpointe in Michigan files to conduct IPO

Northpointe in Michigan files to conduct IPO

Northpointe Bancshares in Grand Rapids, Mich., is planning an initial public offering. The $5.4 billion-asset company, in its registration statement, did not disclose how many shares it plans to sell or how much it expects to raise. Northpointe said that some of the offering's proceeds would be used to increase its on-balance sheet hold of mortgage purchase program loans. The company said it has funded more than $20 billion in

February 5, 2025
Bosshard family to merger pair of Wisconsin banks

Bosshard family to merger pair of Wisconsin banks

Intercity State Bank in Schofield, Wis., will be absorbed by One Community Bank in Oregon, Wis. The $266 million-asset Intercity and the $2.2 billion-asset One Community are owned by the Bosshard family. The merger is expected to close later this year. Randy Balk, Intercity's president and CEO, will retire on Feb. 28. Chris Pfender, the bank's executive vice president, will become a regional president on March 1. “It has been

February 5, 2025
Stablecoin-focused Telecoin gets conditional approval in Nebraska

Stablecoin-focused Telecoin gets conditional approval in Nebraska

Nebraska's Department of Banking and Finance has given conditional approval for Telcoin Bank to open a digital asset bank. The proposed Norfolk, Neb., company said in a press release that it plans to offer fully regulated, bank-issued “Digital Cash” stablecoins, in addition to blockchain banking products and services. Telcoin Bank expects to open early this year by releasing the proposed stablecoin, eUSD. “This approval marks a major milestone for Telcoin

February 5, 2025
Finovifi buys core processing company Modern Banking Systems

Finovifi buys core processing company Modern Banking Systems

Finovifi in Birmingham, Ala., has acquired Modern Banking Systems in Omaha, Neb. Finovifi, which did not disclose how much it paid for the core processing company, said in a press release that it plans to integrate many of its products, including FraudSentry, FraudXchange, SilverSafe, and ComplyPilot, with the MBS platform. “This acquisition represents a unique opportunity to bridge the gap in the market for technology-led, market-relevant solutions that help banks

February 5, 2025
OMB Bank in Missouri forms embedded finance division

OMB Bank in Missouri forms embedded finance division

OMB Bank in Springfield, Mo., has created an embedded finance division. The $1.4 billion-asset bank said that OMBX will offer banking solutions to fintechs and other digital companies. The platform will include compliance support, fraud prevention, payment processing, and analytics tools. “Embedded finance is revolutionizing the way businesses and consumers interact with banking services," Steve Bishop, the bank's chief innovation officer and the division's president, said in the release. "With

February 5, 2025