Growth strategies

Keith Costello, who is looking to form Locality Bank, was president and CEO of First Green Bank when it was sold in 2018.

First Internet CEO David Becker used to be dismissive of the Small Business Administration. But after getting to know some of the borrowers during the pandemic — and after his bank collected hefty fees from selling 7(a) loans — he's become a convert.

The company will pay $29 million for Town-Country National Bank in Camden, Ala., which will operate as its own subsidiary after the deal closes.

The Indiana company said the move reflects a need to cut costs and customers' increased preference for digital channels.

The $21 million deal would combine Feather River Bancorp, a small bank with deep local roots, and Plumas Bancorp, which has deeper pockets and a broader array of products and services.

The social media platform skews toward a more youthful demographic, while credit unions' average member age has been stuck in the late 40s for decades. But even institutions that use it have concerns about security.

Indiana Members CU will expand its reach later this year following completion of a proposed combination with Members Choice FCU.

The Delaware company would remove a rival, gain scale in affluent Philadelphia suburbs and accelerate its transformation from a branch-heavy lender to a digital-first bank with the $976 million acquisition.

The Delaware company's pending purchase will create a bank with $43 billion of assets under management.

The deal to take over the firm's prearranged funeral insurance and final expense business in the U.S. and Canada is worth approximately $1.3 billion, and marks the latest in a string of acquisitions for CUNA Mutual.

The company has formed a special committee to find a successor for James Ford, who will retire as president and CEO next year.

Chris Hendry has served on the credit union's board but has spent his career in health care and philanthropy. He said many of his skills are easily transferable, including a focus on marketing and community engagement.

The unnamed investors will pay about $50 million for Northern California National Bank through a tender offer.

The deal, subject to approval from regulators and members, will add to Valley Strong's existing branch network and comes after several years of losses at Solano First.

The company would gain its first branches around Annapolis after it buys Severn Bancorp in a deal valued at $146 million.

DMG Bancshares, formed by banking veteran Don Griffith, wants to buy more West Coast banks. For California First, the sale ends a four-year period in which it substantially shrank its loan book after it was ordered to shed leveraged loans.

The bank's purchase of Sodak Home Loans in Sioux Falls, S.D., adds to a string of bank deals for mortgage lenders this year.

The company has agreed to pay $43 million for a bank with assets of $354 million.

Members of two smaller institutions will soon vote on whether to join South Carolina-based REV, boosting its assets by 15% and giving it a foothold in North Carolina.

The bank, formed in 2019 when investors bought and recapitalized Sound Bank, will use the funds to hire lenders and improve its overall infrastructure.