The Philadelphia-based company will eliminate an undisclosed number of jobs as part of a plan to refocus on core business lines and markets, CEO Thomas Geisel said.

The fund, which aims to create a self-sustaining, nationwide secondary market for CDFI microloans, has made progress, but it remains far short of its goal, its managing director said.

It's clear that credit unions buying community banks is bad for businesses, bad for communities and bad for government tax revenue.

The Federal Reserve flagged multiple "deficiencies" at Du Quoin State Bank in an order that bars the Illinois depository from paying dividends without its regulators' approval. The central bank has identified interest rate risk as a key issue at a time when rising rates have contributed to three bank failures.

Liberty Bank, an $11.6 million-asset lender in Salt Lake City, is the first FDIC-supervised bank in six years to be hit with the lowest Community Reinvestment Act rating possible twice in a row. Regulators identified an unspecified "illegal credit practice" during their review of the bank's performance.

At the embattled Republic First Bancorp, elevated legal, professional and audit fees also contributed to a nearly $10 million in first-quarter loss but CEO Thomas Geisel reports signs of progress moving past "legacy headwinds."

Land of Lincoln Credit Union in Decatur, Illinois, has agreed to acquire Nokomis Savings Bank. In December, the credit union announced a deal to buy Colchester State Bank.

BayFirst Financial, which says it lost $1.6 million when a planned Small Business Administration loan sale to Signature fell through, plans to file a claim for the lost revenue with the Federal Deposit Insurance Corp.

Some 77% of banks did not did not record significant deposit inflows or outflows following Silicon Valley Bank's failure, according to a survey of executives at 567 institutions. The findings highlight the stability of many smaller banks' deposit bases.

CEO Rajinder Singh said battered competitors are "throwing off" both talent and customers, creating a chance for the Miami Lakes, Florida, bank to pick up new business.

The Kansas-based buyer is pursuing deals to build out its small-business lending across several states.

The Green Bay bank has seen stable performance since its recent strategy overhaul.

The volume of bank acquisitions — either by credit unions or community banks — has dropped considerably so far in 2023. Experts, including prospective buyers, cite a combination of ongoing regulatory and economic pressures.

With the acquisition, the Lake City, Florida-based community bank will nab a consumer-direct platform and expand its footprint in the Midwest.

Lofty fertilizer and equipment costs are forecast to cut into profits this year. Farmers are expected to seek loans to cover higher expenses, but bankers are likely to be cautious in granting credit given recessionary pressures.

Minority depository institutions are well-placed to direct money from the Greenhouse Gas Reduction Fund to high-impact projects in underserved communities.

Eric Rosengren, who stepped down as CEO of the Federal Reserve Bank of Boston in 2021, has been elected an independent director of Berkshire Hill Bancorp. He's its second new board member this year.

In its first three months as a bank, the Boca Raton, Florida-based NewtekOne doubled the size of its deposit base by relying almost exclusively on certificates.

Rising vacancy levels, soaring interest rates and weaknesses exposed by recent bank failures have analysts and investors worried about banks' outsized exposure to high-rise office, apartment and retail properties.

On the anniversary of the Center for Disease Control's mask guidance, banks and credit unions are striking a balance between health and branch security.