Dime Community Bancshares in Hauppauge, N.Y., has sold a block of Paycheck Protection Program loans to The Loan Source.The $13 billion-asset company said in a press release Monday that it sold more than $585 million of 2021 PPP originations, adding that it expects to report a pretax gain of roughly $20.5 million in the second quarter.Dime said its tangible common equity ratio should increase by about 45 basis points. Its

Amerant Bancorp in Coral Gables, Fla., has invested $2.5 million in a robo adviser.Marstone in New York said it raised $5 million in the latest phase of Series A financing. The company has now raised a total of $20 million, with the first close taking place in May 2020. The $7.8 billion-asset Amerant accounted for half of the funds invested in the latest phase, Marstone said in a Monday press release.

Rita Lowman, whose bank is being sold to a credit union, has resigned from the board of the American Bankers Association.Lowman is president of Pilot Bank in Tampa, Fla., which announced plans earlier this month to sell to Lake Michigan Credit Union in Grand Rapids, Mich. Her resignation was first reported by the Tampa Bay Business Journal.Lowman, who had joined the ABA's board this year, was set to chair the

TS Banking Group in Treynor, Iowa, has agreed to buy State Bank of Arcadia in Wisconsin.The $1.5 billion-asset TS Banking said in a press release Wednesday that the $210 million-asset State Bank will be merged into its First National Bank and Trust. The deal is expected to close in the third quarter.TS Banking did not disclose how much it will pay B&E Investments for the bank.Kevin Manley, State Bank's president

A Chicago company that provides AI solutions for lenders is looking to form a digital-only bank.Organizers of the proposed Beta Bank submitted an application on Monday with the Federal Deposit Insurance Corp. for deposit insurance. The bank would operate as a subsidiary of Beta Financial Services, according to the application. Beta Financial plans to apply with the Federal Reserve to become a bank holding company.Beta Bank would focus on small and midsize businesses,

Popular in San Juan, Puerto Rico, has added a fintech expert to its board. The $67 billion-asset company said in a press release Friday that Betty DiVita had become a director. DeVita is chief business officer and a director at FinConecta, a technology firm focused on the digitalization of finance and open banking. She is also the founder and CEO of BetdevSolutions, a fintech advisory firm, according to her LinkedIn profile.DeVita

First Internet Bancorp in Fishers, Ind., will soon have a new president.The $4.2 billion-asset company said in a press release Thursday that Nicole Lorch will remain chief operating officer when she adds the new title on June 30. Lorch will succeed David Becker, who will remain chairman and CEO. She will also serve as president and COO of First Internet Bank.Lorch "has been an important member of the leadership team, contributing significantly

Columbia Banking System in Tacoma, Wash., will enter California with its pending purchase of Bank of Commerce Holdings in Sacramento. The $17.3 billion-asset Columbia said in a press release Wednesday that it will pay $265.6 million in stock for the $1.8 billion-asset parent of Merchants Bank of Commerce. The deal is expected to close in the fourth quarter. Bank of Commerce has 12 branches, $1.1 billion of loans and $1.6 billion of