Massachusetts

New Valley Bank & Trust is set to become the state’s first new bank since 2008.

Blue Hills Bancorp in Massachusetts completed a second-step conversion and was poised to bulk up on acquisitions. It struck its one and only deal this fall — and it was not the kind it had in mind.

The California company will pay $280 million for Leerink Holdings, which focuses on health care and life science firms.

A judge dismissed two of the six counts against the Mass.-based credit union, meaning DFCU will join several other CUs nationwide facing similar suits.

Anthony DeChellis will succeed Clayton Deutsch at the end of this month.

Bank Independent in Alabama is the latest small bank to start using Alexa, though implementation costs and security concerns continue to hold others back.

The custody bank was very profitable, and it raised its cost-saving forecast for year-end, but its nearly 3% increase in third-quarter noninterest expenses prompted an investor backlash.

The company said it is trying to improve shareholder returns as rising rates cut into its net interest margin.

The added heft will help companies like Independent Bank and Berkshire Hills better compete with the bigger banks that control much of the region’s deposits, and perhaps give them a leg up on other giants, including JPMorgan Chase, moving into the Boston market.

The combined institution will serve roughly 13,700 members with $300 million of assets and six branches.