Hilary Burns

Organizers of Watermark Bank aim to open early next year.

The storm dumped a record amount of rain on North Carolina over several days. Some sections of the coast remain off limits due to flooded highways.

The Delaware company said it recouped nearly two-thirds of the costs it incurred as part of a legal settlement reached earlier this year.

Varo Money just received conditional approval from the OCC. Now it has to raise capital, create a CRA plan and get a go-ahead from the FDIC.

With the large storm threatening coasts in Virginia and the Carolinas, some banks are planning to shutter branches for the rest of this week.

Casey Crawford, CEO of Movement Mortgage, bought First State Bank in Virginia last year. He has since injected more capital into the bank in an effort to reinvent it.

The French banking giant will lower its stake in First Hawaiian below 20% when the secondary offering is completed.

The OCC required the company to raise more capital and complete a CRA plan. Varo Bank still needs FDIC and Fed approval before opening.

The company and certain investors plan to sell $35 million in stock through the proposed offering.

Hanmi thought it was all set to buy SWNB in Houston, but the seller was unable to secure enough shareholder votes to back the deal.

The company said it could use proceeds to fund organic growth or acquisitions.

The company said that Michael Segner had also succeeded Stephen Mourlam as its president.

Organizers of new banks want to cater to underbanked minorities, entrepreneurs, military veterans and other specialized groups.

The move is important for new banks in states like California, where a small-business lending program requires a three-star rating from the agency.

Eagle Bancorp Montana is gaining four branches and $94 million in deposits with its $19 million purchase of Big Muddy Bancorp.

Hanmi Financial in Los Angeles will pay more of the deal price in cash, prompting SWNB Bancorp to postpone its shareholder vote.

The first meeting is structured like a job interview. After that, organizers should expect plenty of questions about money, management and markets.

Keith Mestrich, who runs the union-founded bank, plans to use a more liquid stock to pursue acquisitions in cities such as Boston, Seattle and Los Angeles.

Merger announcements typically follow a tried-and-true formula of cutting costs to boost profit. WSFS, however, plans to reinvest $32 million in new tech initiatives after buying Beneficial.

While most acquirers are content to let cost savings trickle down to the bottom line, WSFS will use the purchase of Beneficial to reinvent itself.