Retail & Commercial

Eileen Serra, 61, the chief executive of the Chase Card Services unit, will step down in January and become an adviser to the company on growth initiatives, according to a memo Wednesday from Gordon Smith, JPMorgan's CEO of consumer and community banking.

Eileen Serra is stepping down as chief executive officer of JPMorgan Chase's credit-card business and will be replaced by Kevin Watters, who is currently head of mortgage banking.

The $30.2 million-asset Citizens, in Hartford, Ky., agreed to pay a 1.77% premium for the branch's average daily balance of assumed deposits for the ten days prior to the closing date.

Carolina Financial in Charleston, S.C., plans to raise $30 million in a public offering of its common stock.

Bank of Lancaster in Kilmarnock, Va. has promoted Susan Pittman to the newly created position of chief lending officer.

Umpqua Holdings wants other banks to join its recently announced innovation lab in Silicon Valley. The company says if smaller banks pool resources they can compete with the deep pockets of the big banks in disruption.

Patriot National once suffered seven straight years of losses. Again profitable, the company is looking to use capital to buy back leased branches, improve technology and make the first acquisition in its 21-year history.

U.S. District Judge Thomas M. Durkin denied requests for a new trial made by collection agency/mortgage servicer Residential Credit Solutions after it was ordered to pay $2 million to a woman who fought a foreclosure action brought by the firm.

Financial institutions' growing curiosity about so-called blockchain technology has spawned a new category of technology: blockchain as a service.

Several CEOs hitting the magic age of 63 have chosen to sell their institutions, suggesting a dearth of younger executives waiting in the wings.