Jim Dobbs

The company said long-time chief executive Chuck Sulerzyski would retire in 2024 and be succeeded by Tyler Wilcox, Peoples' executive vice president of community banking.

They're wary of deteriorating economic conditions and the bite higher interest rates could take out of profits, according to the latest index of small-bank executives' sentiments by the Conference of State Bank Supervisors. The index fell to its lowest level since it was created in 2019.

The acquisition of Malvern Bancorp, expected to close this month, would hasten First Bank's efforts to further fortify its footprint stretching from Philadelphia to New York City.

The company's longtime chief executive, Mark Tryniski, plans to retire at the close of 2023. Dimitar Karaivanov, the current chief operating officer, will succeed him.

Byline Bancorp completed its acquisition of Inland Bancorp on time, avoiding the kind of regulatory delays that have dampened bank M&A activity for the past 18 months.

When community lenders report second-quarter results next month, all eyes will be on deposit levels and funding costs. By extension, analysts expect more banks to roll out expense reduction plans to protect their bottom lines.

Through May, there were 32 U.S. bank mergers and acquisitions announced, fewer than half of the 66 deals announced over the same span of 2022. But analysts say higher costs and more regulation could spur consolidation.

The American Bankers Association's Economic Advisory Committee said access to loans is likely to further soften, while defaults and credit losses could increase in the second half of the year.

Loan demand slowed, deposit costs jumped and credit quality became vulnerable, but veteran banker Frank Sorrentino sees more positives than negatives for community banks, particularly when interest rates level off.

The top 200 publicly traded banks with less than $2 billion of assets capitalized on their strong loan portfolios and interest income. But given a shift in the economic environment and banking industry, performance challenges are expected to intensify through 2023.

The seller announced the delay to give it time to solicit more votes in favor of the deal. It plans to push a June 13 meeting to next month, when shareholders will decide whether to approve the transaction.

After shares dropped in the aftermath of recent failures, most banks demonstrated resilience and investors started to buy back into the sector.

Bankers and a key government supervisor say the downfalls of multiple regional lenders reminded regulators that traditional M&A is better for the industry than failed-bank-deals.

The parent of the $1.1 billion-asset CBI Bank & Trust said it would buy McLaughlin Holding and its SENB Bank unit.

An activist investor blasted the appointment of Andrew Cohen, saying he has long served on the Philadelphia bank's board and shares responsibility for its financial troubles.

Nearly two out of three finance chiefs surveyed by Piper Sandler said they were most worried about deposit costs in the aftermath of recent bank closures. Only 7% cited credit quality as their top reason for unease.

The Kentucky-based bank plans to acquire the $234 million-asset Sumner Bank & Trust in central Tennessee in a transaction expected to close in the fourth quarter.

The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.

Lenders in coveted locations with stable deposit bases are bullish about their expansion opportunities despite the shadow the banking crisis and recession fears have cast on the rest of the industry.

The West Virginia company says COO Jeffrey Jackson will become chief executive in August instead of January. He will succeed Todd Clossin, who will retire earlier than planned and describes Jackson as "well prepared."