John Reosti

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.

The Illinois company plans to combine Guaranty Federal Bancshares in Springfield with another bank it bought in the region.

The Pennsylvania community bank lacked the resources to go all-in on developing a diversity, equity and inclusion policy, so it turned to grad students at Georgetown University for help.

The Florida bank's agreement with the core provider FIS is expected to reduce annual expenses by $12 million. Analysts expect more banks to make similar moves.

The $323 million acquisition would give the Indiana bank a presence in affluent Oakland County and in Ann Arbor and Grand Rapids.

The White House's latest budget proposal slashes funding for a program that would allow the Small Business Administration to make direct 7(a) loans. Lenders say the idea is still misguided.

Steve Steinour, the Ohio bank’s CEO, said the slowdown in car manufacturing due to the global chip shortage will continue to stifle loan demand in the months ahead.

Piermont Bank in New York expects to double its $347 million of assets in a year by extending working capital to financial technology companies. MainStreet Bancshares in Virginia is taking a different approach, hoping a new banking-as-a-service offering will help investors see it as more cutting-edge.

Building on four years of rapid growth in Dallas, Business First expects the acquisition to help it grow into a regional bank.

New enlistees typically lack credit histories, so the $1.2 billion-asset lender is using other transaction data to underwrite loans. It's a common practice among large banks and fintechs but rare for a community bank.