MVB Financial (MVBF) in Fairmont, W.Va., has raised more than $37 million by issuing subordinated debt and selling preferred stock.
The $782 million-asset company
MVB also disclosed that it must secure consent from the subordinated debtholders before issuing any new senior debt in excess of $15 million.
The company also disclosed that it had sold two classes of convertible preferred stock for roughly $7.8 million.
A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
The Senate passed President Trump's tax and spending bill Tuesday, but questions around Consumer Financial Protection Bureau funding, 1071 delay and remittance taxes remain as GOP leaders scramble to pass the bill out of the House before Trump's July 4 deadline.
