John Reosti

The planned Altos Bank in Los Altos cleared a big hurdle this week when state regulators approved its application to open a startup bank. Organizers are hoping for a soft opening before year-end.

The Ames-based Ames National Corp. has watched its profits shrink over the past two years amid increased funding costs and stiff competition for deposits.

The planned Bay State deal comes two months after the Minneapolis-based Thrivent said it plans to merge a credit union it controls into a new industrial bank.

Currently sitting at 2,500, the in-store branch count appears fated to continue dropping, as customers opt for digital channels and banks shy away from models that emphasize overdraft.

Though it hasn't set a timeline, Oxford Bank, based north of the Motor City, is weighing a southward expansion that would add all the Detroit metropolitan area to its footprint.

On the heels of a recent downgrade by one analyst, the Uniondale, New York-based Flushing is being challenged by veteran investor Larry Seidman to consider a sale of the company.

First National Community Bank CEO Ryan Earnest said his institution would likely use its entry into Paulding County, an Atlanta suburb, as a template for future expansion.

The Long Island-based thrift, long associated with multifamily and CRE lending, saw business lending spike the past year as it onboarded 15 banking teams. Other banks that did significant hiring have also reported more deposits and wider margins.

The agency admitted navigating the different rules and regulations involved in its four existing lines of credit proved time consuming and confusing and kept some lenders from offering them altogether.

The $330 million transaction announced late Monday would give the Jasper-based company a foothold in fast-growing Columbus, as well as in Cincinnati.