Citizens Financial said it would pay $67.4 million to buy HV Bancorp, the holding company for Huntingdon Valley Bank, in a bid to expand in Greater Philadelphia.

The parent of City National Bank of West Virginia said it would pay $61 million in stock to acquire Citizens Commerce Bancshares.

An uptick in so-called operating losses helped drive up noninterest expenses excluding M&A costs at Truist Financial by 2% year over year, complicating its efforts to achieve positive operating leverage. The cost of reimbursing customers hurt by fraud seems to have been a contributing factor.

Since 1982, the Small Business Administration's 7(a) program has been restricted almost entirely to banks and credit unions. A proposed rule would open it to fintech lenders.

The Federal Housing Finance Agency's tangible capital rule could prevent some banks from accessing advances from the Federal Home Loan Bank system in a rising interest rate environment.

Neil Ray Sommers, who was 74, was succeeded by Bret Fisher, Achieve's director of operations the past three years.