John Reosti

The community bank said it would will not renew their employment contracts, which terminate March 20, but that it intends to keep them as executives.

The $50 million subordinated debt issuance is large for a credit union and likely the first of its kind to receive an investment-grade rating. It comes days before a National Credit Union Administration rule will take effect to enable a wider range of credit unions to raise capital through debt offerings.

To strengthen ties with entrepreneurs, Citizens Bank of Edmond in Oklahoma and the de novo Genesis Bank in California offer co-working, education and other resources.

Technology that Biz2Credit used to help certified public accountants obtain Paycheck Protection Program loans for their clients is being updated to offer term loans to small-business owners.

The $6.7 billion-asset Byline Bancorp plans to invest most of the savings into digital banking.

Driver Management says CEO Vernon Hill’s aggressive deposit-gathering strategy is not paying off for shareholders and wants the company to merge with a bank that would deploy the deposits into higher-yielding loans.

Facing a lawsuit from a disgruntled investor, the Arkansas company has released additional information about how it arrived at the $919 million price it’s paying for Happy Bancshares.

The proceeds will support Silvergate’s network that facilitates cryptocurrency transactions and a leveraged lending product that provides loans collateralized by bitcoin.

The deal for Summit Financial furthers First Financial’s strategy of acquiring national niche business lines.

The Georgia bank estimates that it will save $12 million annually by shutting down 40 branches.

The transaction will enable possible acquisitions and provide cost savings of $500,000 a year by allowing the Virginia bank to redeem a block of higher-cost notes.

The prepaid card issuer Green Dot backed out of the deal for fear of inheriting a regulatory problem. Republic plans to pursue a separate legal challenge alleging breach of contract.

The $129 million deal for Rahway-based RSI would give Columbia a stronger presence in Union and Middlesex counties.

The sale could end minority ownership for Alamerica Bank in Alabama, further reducing the number of Black-owned banks in the U.S.

Friendly Hills Bancorp's board is due for a shake-up after its management team underperformed for more than a decade, says shareholder Frank Kavanaugh.

Professional Holding CEO Dan Sheehan is dismissive of off-the-shelf bank technology. “Whatever we’re getting in a box, the next hundred competitors are going to be able to get.”

Locality Bank in Fort Lauderdale and Gulf Coast Business Bank in Fort Myers would be the seventh and eighth banks to open in Florida since 2017 — the most of any state in that span. Organizers relish the chance to start from scratch, but some observers lament the drop-off in de novos from the pre-crisis era.

The National Credit Union Administration backed off measures that would have let credit unions sign up members in areas where they have ATMs and online services, but no branches. The move was seen as a partial victory for banks, though the matter could ultimately be decided by Congress.

Republicans on the House Small Business Committee question the wisdom of having the Small Business Administration depart from its traditional model of backing loans made by private-sector lenders. But agency Administrator Isabella Casillas Guzman says the plan is necessary to fill "large gaps" in credit availability to the smallest companies.

Patriot National Bancorp was exploring a digital pivot, and American Challenger Development Corp. had been seeking a bank charter in its quest to become open an all-digital bank. They decided it was quicker to join forces.