Jim Dobbs

Nearly nine out of 10 bankers surveyed by the Conference of State Bank Supervisors ranked the specter of rising deposit costs and narrowing margins as their top concern.

Investors are looking past the current boom in loan activity, fearing that inflation and other factors will cool demand and make it harder for borrowers to make payments.

The all-stock acquisition of Lakeland Bancorp, expected to close in the second quarter of 2023, would create a combined bank with more than $25 billion of assets.

BayFirst Financial Corp. said it initiated the process of shuttering its out-of-state network of residential mortgage loan production offices.

The buyer said it would pay $140 million in cash and stock to acquire Citizens Bancshares. It would gain about $1 billion of assets in and around Missouri's largest city.

So far this year, banks have reported that borrowers continue to repay their loans and delinquency rates remain low. But there are signs that this may change.

Stephens Inc. found only 19% of bankers expect deal volume to pick up over the next 12 months. It was the lowest percentage since the firm's surveys started in 2017.

More than 350 investors put money into Agility Bank, a de novo minority depository institution that opened in May. It raised nearly $41 million, well surpassing its $30 million goal.

The Pennsylvania banking company could use the proceeds from its initial public offering to pursue acquisitions.

Protego Trust Bank in Seattle, a bank in formation with plans to open this year, named financial technology veteran Ron Totaro its first chief executive.