Americas

FB Financial is selling its correspondent lending channel to Rushmore Loan Management Services, which will complete the bank holding company's restructuring of its mortgage business.

COO Jenna Lampson will take the helm on Aug. 1 while current CEO Steve Punch stays on as a consultant until he retires at the end of October.

The $550 million purchase will include a branch in the U.S. Virgin Islands.

As the industry continues to consolidate, operating branches in states far removed from headquarters could move from the exception to the rule.

The New Jersey regional will have higher capital levels after buying Oritani Financial. That was just one of the reasons why CEO Ira Robbins overcame his aversion to M&A.

First American Bank agreed to sell its Iowa branches to GreenState just weeks after arranging the transfer of its Florida locations to another credit union.

Besides the Iowa branch deal, First American Bank is also selling certain assets and liabilities in Florida in a previously announced transaction.

Valley, which had focused on Florida in recent years, will double its market share in Bergen County with the $740 million acquisition.

Ken Lehman recently bought a block of shares in Village Bank & Trust Financial.

Offering secured credit cards can help a credit union build loyalty with members but this product line can be difficult to successfully manage.