Jim Dobbs

The Boston bank is engaged in a three-year endeavor to finance $5 billion to meet the credit needs of underserved communities. "This has to be in your DNA because you cannot fake it," CEO Nitin Mhatre said.

Long-tenured CEO Matthew Wagner intends to retire from the company's top job early in 2023, not at the end of that year as initially planned. Paul Taylor, PacWest's president, will succeed him.

The bank said Monday that its interim president and CFO had resigned. This followed the departure of its previous president earlier in November.

The bank has agreed to pay $113 million for the $500 million-asset Surrey Bancorp, which specializes in credit for small to midsize commercial clients as well as government-guaranteed loans.

The bank postponed its quarterly earnings report and warned of a $27.5 million loss tied to troubles in its digital- asset mining loan portfolio.

Farmers and the bankers who lend to them are increasingly concerned that rising costs will hasten a recession and hamper credit quality in 2023.

Highly acquisitive banks that pack on assets without sacrificing employee morale pepper American Banker's annual Best Banks to Work For rankings.

The Seattle bank's all-stock deal for Luther Burbank Corp. is expected to close as soon as the second quarter of 2023.

Savanna-Thomson State Bank in Illinois has agreed to buy Fidelity Bank in Iowa and says it expects to complete the acquisition early next year.

The $186 million deal, announced in November 2021, was originally expected to close in the first half of this year. "The environment for M&A is just more challenging," an OceanFirst executive says.

David DePillo stepped down not long after the company said it would tap the brakes on loan growth and focus on lagging deposit gathering.

The Dallas company says it could repurchase as much as 8% of its common stock and still have the wherewithal to pursue an acquisition — all in an effort to strengthen its value in the eyes of investors.

The state's largest banks posted solid third-quarter loan growth and earnings. But Hawaii's tourism-heavy economy is vulnerable to lofty inflation and the threat of a downturn.

Six years after buying a bank, the New York company plans to sell its banking unit to a group of investors. The decision to refocus on its core businesses comes 18 months after Thasunda Brown Duckett took the reins as CEO.

The shift in refi behavior — in the wake of multiple Federal Reserve interest rate hikes — helped fuel a loan growth trend that's expected to continue through year-end.

Republic Bancorp said it would pay $51 million in cash for CBank and its subsidiary Commercial Industrial Finance.

Strong commodity prices and jumps in energy production fuel the Oklahoma bank's upbeat outlook for continued loan demand, despite inflationary pressures and high interest rates.

The all-stock acquisition of Limestone Bancorp in Louisville would give the buyer an additional $1.5 billion of assets and 20 branches in the Bluegrass State.

Paydowns at the Arkansas bank, which specializes in commercial real estate lending, fell by $1 billion from the prior quarter as refinancing activity slowed amid soaring interest rates. The result was stronger loan growth.

Bank of Princeton in New Jersey said it would pay $25 million in cash to acquire Noah Bank, whose former CEO was convicted on charges that included bank bribery and theft.