CU Business Group LLC, the business services CUSO owned by Northwest Corporate and
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Market watchers think Jerome Powell will maintain a low-key presence on the Fed board as he awaits the release of an inspector general report examining cost overruns at the central bank's headquarters.
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Banner Bank is poised to merge with Bank of the Pacific in an all-stock deal valued at $177 million. The two Washington-based commercial banks both have branches in Washington and Oregon.
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BayFirst Financial in St. Petersburg named veteran Tampa-area banker Al Rogers as its CEO and announced an $80 million capital raise. The bank sold its SBA-lending business last year, but it's still struggling to work through problems in its legacy loan portfolio.
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San Diego County Credit Union won a court ruling that should help in its effort to get out of its deal to merge with a local competitor. A lawyer for SDCCU said he believes the judge's decision "signals the end of any merger between the two institutions."
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The case exposes a systemic risk for banks: incident-response and ransomware-negotiation firms receive sensitive breach details that a corrupted insider can sell back to the attackers.
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Miami's Ocean Bank appointed Yuni Navarro to its board of directors; Indiana-based Interra Credit Union announced it will acquire The Hicksville Bank in Ohio; JPMorganChase hired Chris Mihok from Keefe Bruyette and Woods; and more in this week's banking news roundup.
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