Shares in small banks have plummeted during this year's banking crisis. But deposits have largely stabilized and credit quality remains historically strong, bolstering the case for bargain buying and a sector rebound.

The several high-profile failures in the digital-asset sector haven't deterred the financial institution from forging ahead with a plan to expand support for payments.

The FDIC reviewed more than 20 other offers before selling the failed bank, including one from a San Francisco fintech.

The fintech already has a number of large bank partnerships, including Morgan Stanley at Work and Wells Fargo.

The former vice chair for supervision challenged his successor's report on the failure of Silicon Valley Bank, said changes that move away from transparency and consistency 'won't survive' in court.

The challenger bank offers the largest advances on the market, but it is still working to become net cash positive and faces stiff competition.