New Jersey

Investors, a former serial acquirer that has been sidelined by an informal order tied to Bank Secrecy Act compliance, has hired an executive from EverBank.

Thomas O’Brien made a series of aggressive cuts at Sun Bancorp in New Jersey before orchestrating its sale to OceanFirst.

Despite the increase in loan demand, the New Jersey company swung to a loss in the quarter as it devalued its deferred tax asset.

The new tax law also resulted in more than $22 million of charges at the New Jersey-based bank.

Both proposals aim to establish institutions that would be modeled after Bank of North Dakota, the nation's only public bank.

If Congress doesn’t take the lead on protecting consumers from data breaches, states are more than ready to offer their own fixes. Bankers will also be keeping close tabs on bills related to marijuana, PACE loans and elder financial abuse.

The company tapped a new president for the business, which it will also rebrand, after hiring a team from Scottrade Bank in Missouri.

Though Marlene Caride has no direct experience in the banking industry, she could play a key role in carrying out Governor-elect Phil Murphy’s pledge to create a public bank in the Garden State.

The company has been working to address an informal agreement with regulators tied to Bank Secrecy Act compliance.

Columbia Financial will sell about 43% of its stock in a public offering that could raise up to $493 million.