State Street shuffles leadership, Florida's Portrait Bank

Published September 18, 2026 3:00 PM

1 Min Read

In this week's banking news roundup:

Ann Fogarty is promoted to chief operating officer at State Street as Mostapha Tahiri is named president of State Street Alpha
Florida's de novo Portrait Bank expects to open for business on Saturday
Texas Capital Bancshares is on the lookout for a new chief risk officer following the departure of David Oman, and more.

State Street makes leadership changes

State Street has a new chief operating officer as part of a leadership shuffle.

The Boston-based trust bank promoted Ann Fogarty to the role, succeeding Mostapha Tahiri who was named president of State Street Alpha.

Fogarty, who was American Banker's No. 19 Most Powerful Woman in Finance in 2025, will oversee enterprise technology and operations while advancing State Street's technology modernization and AI agenda, the bank said in a press release. She will continue to co-lead the firm's enterprise transformation program alongside Chief Financial Officer John Woods.

Fogarty, who was most recently the chief operating officer for State's Street investment services business, will remain on the bank's operating committee and report to CEO Ron O'Hanley.

Tahiri, who was chief operating officer for nearly three years, will oversee Alpha, Charles River Development and other platform solutions. State Street announced the creation of Alpha platform and software earlier this year. —Allissa Kline

Florida’s Portrait Bank set to open on Saturday

Portrait Bank is expected to open for business in Central Florida on Saturday, becoming the eighth de novo institution nationwide to start operations in 2026.

Erik Weiner, who's slated to serve as the bank's president and CEO, told American Banker last year that conditions were ripe for new community banks, particularly in the Orlando area, where Portrait will be based.

"When you look at the landscape, the growth of the market … with the limited number of options, it just seemed like the need was so glaring we needed to do something about it," Weiner said.

As of Aug. 5, U.S. regulators had approved charters for 14 de novo banks in 2026, according to data from the Office of the Comptroller of the Currency. That's the largest number since 2008, when 28 new banks got the green light. —Kevin Wack

Texas Capital on the hunt for a new chief risk officer

Texas Capital Bancshares has initiated a search for a new chief risk officer, following the departure this week of David Oman, who held the job for the past two years.

Oman's exit isn't related to any disputes or disagreements with the Dallas-based company, or any matter concerning the company's financial condition, internal controls, disclosure controls and procedures or enterprise risk management, according to a securities filing.

David Youngberg, Texas Capital's chief credit officer, is serving as interim chief risk officer on a temporary basis while the company considers internal and external candidates, including Youngberg, the filing said.

Oman joined Texas Capital in June 2024, reporting to CEO Rob Holmes and serving on the bank's executive management team. Prior to working at Texas Capital, he was a managing director in PriceWaterhouseCoopers' financial risk practice. —Allissa Kline

Texas Capital will trade on home state stock exchange

Texas Capital Bancshares in Dallas plans to transfer the primary listing of its common and preferred stock from Nasdaq to the startup Texas Stock Exchange.

The regional bank expects to start trading as a TXSE-listed company on Oct. 8, using its current ticker symbols, it said in a press release. It plans to change its ticker symbols on Nov. 9.

It's the second bank to announce plans to transfer the primary listing of its stock. Also this week, Origin Bancorp in Ruston, Louisiana, said it would move its stock listing from the New York Stock Exchange to TXSE. The first day of trading will be Oct. 13.

To demonstrate its commitment to its home state, Texas Capital recently transferred its Texas-focused exchange-traded funds from the New York Stock Exchange to TXSE. It plans to again seek shareholder approval to switch its state of incorporation from Delaware to Texas. —Allissa Kline

Gateway First enters deal to acquire Colonial Savings

In a match-up of two banks with significant mortgage lending operations,

Gateway First Bank, a $2 billion-asset bank in Jenks, Oklahoma, has entered into a deal to acquire Texas-based Colonial Savings.

The deal strengthens Gateway's presence in Texas by adding six Colonial locations in the greater Fort Worth market. Both banks have a heritage in mortgages. Gateway operates 11 branches and maintains over 60 mortgage locations nationwide.

Kyle Hubbard, Gateway's CEO and Jim DuBose, president and CEO of Colonial Savings, praised the combination.

"Both organizations share a belief that financial services should be built around relationships, trust, and local decision-making," DuBose said in a press release.

Hubbard said he was "honored to welcome Colonial's customers and team members to Gateway," and looks "forward to building on the strengths of both organizations."

The deal is expected to close in the first quarter of 2027, pending regulatory approval and customary closing conditions. —Kate Berry

US Century Bank promotes Lesner Castillo

U.S. Century Bank has promoted Lesner Castillo to senior vice president, finance and treasurer. In this expanded role, Castillo will oversee finance and accounting functions while continuing to lead the bank's treasury function.

Most recently, Castillo has served as senior vice president and treasurer, advising executive leadership and the board of directors on balance sheet management, capital planning, liquidity, and interest rate risk. He also played a key role in the bank's 2021 initial public offering and the subsequent capital restructure that formed USCB Financial Holdings.

"Lesner's promotion reflects his outstanding leadership, financial expertise and significant contributions to U.S. Century Bank," said Chief Financial Officer Rob Anderson.

Established in 2002, U.S. Century Bank is one of the largest community banks headquartered in Miami and across Florida. —Traci Parks