It's unclear what will happen when the Fed starts cutting interest rates, but community banks will be there to support their customers no matter what the economy looks like.

CEO Dominik Mjartan is stepping down after Optus Bank increased its assets more than 1,000% over seven years.

Bridgewater Bancshares agreed to acquire First Minnetonka Bancorp. in an all-cash transaction slated to close in the fourth quarter. It would create a nearly $5 billion-asset bank.

Challenger bank OakNorth plans to kick its marketing into higher gear. Its desired endgame in the U.S. is a banking charter and it's open to an acquisition to help get it there.

The $23 million cash transaction boosts Old Second's presence in its home Windy City market, while marking Muncie, Indiana-based First Merchants' exit from Illinois.

The combination, expected to close next year, would create a regional bank with $17 billion of deposits across 10 states.

Lower interest rates could bolster loan demand, credit quality and securities portfolios. But they could also curb lending profitability faster than they ease deposit costs, crimping net interest margins and eating into near-term profits.

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.

Increased demand from borrowers may hinge on Federal Reserve Chair Jerome Powell and his colleagues cutting interest rates this fall.

In a sea of generically named "First Banks of X" and "Community Banks of Y," financial institutions must decide if the painstaking rebranding process is worth the investment and risk to stand out.