Paul Davis

Equity Bank agreed to buy most of the assets, and assume all the deposits, of Almena State Bank.

The bank said the move will give it more flexibility for raising capital.

The Connecticut company, which began reviewing its operations in January, said the effort gained momentum when the coronavirus pandemic hit.

The company will close nine branches over the next three months.

Highlands Banking would be based in a community near the state's borders with Georgia and South Carolina.

The Oregon company unveiled a sweeping cost-cutting plan that includes more remote work opportunities and up to 50 branch closures.

The company, which shuttered six locations in September, plans to close 14 more branches by the end of this year.

The company will close branches and cut jobs, with plans to reinvest some of the savings into digital enhancements.

The veteran executive will receive a $13 million lump-sum payment if she stays with the North Carolina company for two years after the deal closes.

The company will close eight locations, noting that customers have been quick to adopt digital channels during the coronavirus pandemic.