Community Banking

The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.

Spring Bank CEO Barry Mann has accumulated a 6% stake in New York City-based Carver Bancorp. Carver has a history of underperforming, but Mann is optimistic about its chances under new CEO Donald Felix.

Treasury laid off all of its Community Development Financial Institution Fund staff on Friday, with the reduction in force notices saying that the department plans on abolishing the fund.

A number of banks experienced major increases in 7(a) lending activity during SBA's recently completed fiscal year, as program-wide loan volume topped $37 billion for the first time.

Federal Reserve Gov. Michael Barr is warning small banks about the growing threat from fraudsters' use of AI-generated deepfakes. But he also says AI may be able to help community banks fight fraud more effectively.

In a new survey, 28.4% of community banks said that regulation represented an "extremely important" risk, down from 44.1% last year.

The Fairmont, West Virginia, bank is taking a $7.6 million hit to rid itself of $73 million in long-duration, low-yielding securities, though the sale of its payments subsidiary the week before cushions the blow.

The fund is designed to generate a financial return, as well as Community Reinvestment Act credit, for TD. Its inaugural investment is in a mixed-use project that will include 49 affordable housing units.

In a break from a 20-year history marked by losses and scandal, California International Bank in Westminster is on pace for its biggest-ever profit, its CEO says.