Retail & Commercial

The digital banking fintech expects to reach profitability this year as it recovers from a post-2021 valuation drop with three consecutive years of growth.

National Capital Bank, founded in 1889, and Old Dominion National Bank, founded in 2007, are combining with plans to take the merged entity public.

The North Carolina-based regional has recruited Michael Lyons to serve as CEO, starting Sept. 1. Lyons will replace Bill Rogers, who plans to retire in April 2027.

City National Bank appointed longtime executive David Cameron as chief operating officer; JPMorganChase is selling a limited-edition Lego version of its new midtown Manhattan headquarters; Esquire Financial Holdings received regulatory approval to complete its acquisition of Signature Bank in Chicago; and more.

CEO Lynn Harton said his Greenville, South Carolina-based bank struggled the past year to keep Navitas from overshooting the limit the bank set for its expanding portfolio, about 10% of total loans.

The megabank has completed the sale of its consumer banking business in Poland. It has now sold 10 retail-focused franchises in certain underperforming, international markets over the past five years.

Oklahoma City-based BancFirst agreed to pay an undisclosed sum for SpiritBank. The deal comes just seven months after the buyer completed another in-state acquisition.

Independent Community Bankers of America is launching a new campaign comparing community banks with crypto companies, and highlights potential harm that the latter could pose to Main Street.

Plans to allow U.S. banks to reduce the capital they hold create uncomfortable echoes of past turmoil in credit markets. As regulators contemplate relaxing standards meant to protect the public, they should look to past financial crises.