Community Bank System in DeWitt, N.Y., has bought a company that provides consulting services tied to retirement plans and benefits.The $14.6 billion-asset company said in a press release Thursday that it acquired Fringe Benefits Design of Minnesota, which has offices in Minnesota and South Dakota. Fringe Benefits Design will become a unit of Benefit Plans Administrative Services.Community Bank System did not disclose the price it paid.The acquisition is expected to

German American Bancorp will have a new CEO next year. The $5.2 billion-asset company said in a press release Thursday that D. Neil Dauby will succeed Mark Schroeder on Jan. 1. Schroeder will remain chairman.Schroeder plans to retire as an executive during the second quarter of 2022 but remain chairman until German American’s annual meeting the following year, the company said.Dauby, German American’s president and chief operating officer, was also appointed

A group in Moultrie, Ga., is looking to form a bank. Organizers of the proposed Moultrie Bank & Trust filed an application with the Federal Deposit Insurance Corp. on Wednesday for deposit insurance. The application wasn’t immediately available. The group is looking to raise $20 million to $25 million in initial capital, said Byron Richardson, a senior consultant at Bank Resources in Atlanta. Bank Resources has been providing consulting services

Live Oak Bancshares in Wilmington, N.C., has hired the former chief financial officer at First Horizon to fill the same role. The $8.4 billion-asset Live Oak said in a press release Wednesday that B.J. Losch will also become CFO of its bank on Sept. 1. Losch will be responsible for the overall financial management of the company and will oversee strategy and corporate development, including strategic oversight of Live Oak Ventures.Losch,

Mid Penn Bancorp in Millersburg, Pa., has agreed to buy Riverview Financial in Harrisburg, Pa.The $3 billion-asset Mid Penn said in a press release Wednesday that it will pay $124.7 million in stock for the $1.4 billion-asset Riverview. The deal, which is expected to close in the fourth quarter, priced Riverview at 128% of its tangible book value.The acquisition will provide Mid Penn with its first branches in Pennsylvania’s Lehigh

Trustmark in Jackson, Miss., is the latest bank to sell Paycheck Protection Program loans to The Loan Source.The $16.9 billion-asset company disclosed in a regulatory filing Wednesday that it sold $354.2 million of PPP loans, or "substantially all" of its 2021 originations under the program.The Loan Source will assume responsibility for the servicing and forgiveness process for the loans, Trustmark said. The sale will allow Trustmark "to focus on more-traditional

Midland States Bancorp in Effingham, Ill., will report an after-tax gain of $2.9 million in the second quarter after settling a tax issue tied to government-assisted acquisitions in the wake of the 2008 financial crisis.The $6.9 billion-asset company said in a press release Tuesday that it will recognize a nearly $6.8 million tax benefit, partially offset by $3.6 million in legal and consulting expenses.Midland States bought two failed banks: Strategic

Valley National Bancorp in New York is expanding to the north with an agreement to buy Westchester Bank Holding in White Plains, N.Y. The $41 billion-asset Valley said in a press release Tuesday that it will pay $210 million in cash and stock for the $1.3 billion-asset parent of Westchester Bank. Another $10 million in cash will go to those who hold Westchester options. The deal is expected to close in