The process is expected to begin this summer and extend into late 2023, ultimately saving the Iowa company about $20 million annually.

Four-fifths of the state's community banks have disappeared since the start of the 2008 financial crisis. The founder of the newly chartered Scottsdale Community Bank calls the market "drastically underbanked."

The group is urging the board of directors to oust Hill, the chairman and CEO, and replace him with Greg Braca, the former CEO of TD Bank’s U.S. operation. In December, another investor launched its own campaign to drive change at the Philadelphia bank.

Maria Tedesco, the bank's president, added the role of chief operating officer with a mission of unifying workflows from the back office to front end. This frees up CEO John Asbury to augment Atlantic Union’s fintech investments and scout for potential acquisitions.

January was a quiet month for traditional bank mergers and acquisitions, but some big-name firms still struck big deals. Here's a look back at the month's most noteworthy deals.

Six weeks after receiving a $237.5 million investment from the Treasury Department, the community development financial institution has struck a deal for Premier Bank of Arkansas.

When big banks trim their branch networks, community banks operating in the same markets see a chance to pounce.

James Blake plans to retire in May, culminating a 25-year run at the helm. Joseph Casey, the bank's president, was named his successor.

The Massachusetts bank is purchasing a fellow Bay State institution's pot banking operation and says one of its first steps will be encouraging dispensaries to accept credit and debit cards.

After regulators signaled their intention to crack down on banks that lean on the controversial charges, First National Bank Texas adopted a reform. A bank spokesperson said the move was unrelated to any pressure from Washington.

The new service was designed to lower costs for community banks while adding security features and providing customers with access to Venmo and other peer-to-peer payment systems.

The Irvine, California, bank has been beset by compliance woes since early 2021, when state regulators issued an order requiring it to bolster its capital and reduce the concentration of its commercial real estate footprint.

The economic and political conditions are in place for bank-credit union mergers to blow past last year's total of 13 despite the banking industry's strong opposition to them.

A group of community banks and two major trade associations have formed a partnership with and invested in the fintech NYDIG to offer the service on the banks’ mobile apps by midyear. The banks say it will help them generate revenue and retain customers interested in cryptocurrency.

It has also taken a stake in Rêv Worldwide, developer of the bank's cross-border traveler account that supports currencies including the U.S. dollar, the euro and the Mexican peso.

Year to date through Sep. 30, 2021. Dollars in thousands.

David Felan was most recently an executive vice president at Texas Capital Bancshares. In his new role, he will oversee the Kansas bank's expansion in the Lone Star State's hottest markets.

OneUnited's new installment-loan product is meant to break customers out of a cycle of debt. It will compete with similar offerings from heavyweights like Wells Fargo, Bank of America and Huntington.

A U.S. central bank digital currency is coming, and what form it takes could spell opportunity — or trouble — for the banking industry.

The Louisiana-based company is among a growing number of community banks that have taken on new talent in the wake of competitors' consolidation.