First State Bank of Purdy is on the forefront of new technology from Jack Henry & Associates thanks to the decades-long relationship between the bank and Jack Henry himself.

The Honolulu-based bank's board continues to recommend selling to Hope Bancorp in Los Angeles, despite a competing offer that includes a higher price tag.

The veteran turnaround executive was hired in 2020 to salvage the troubled banking company after the Justice Department launched a far-reaching probe of its mortgage lending practices. It agreed to sell to Florida-based EverBank.

Financial institutions are on the front lines of relief efforts in Tennessee and North Carolina, while in Florida, Hurricane Milton threatens to deal a second blow.

River Run Bancorp near Boston said it would acquire Rollstone Bank and Trust, adding to a string of industry combinations as M&A activity gathers momentum in the second half of 2024.

Honolulu-based Territorial Bancorp is delaying the approval vote by about four weeks in order to continue discussions with its shareholders. A group that includes a former Bank of Hawaii CEO is trying to scuttle the $78 million deal with Los Angeles-based Hope Bancorp.

Despite strong growth and solid profits, the Miami-based lender, formerly a business development company, still hasn't convinced the market it fits in as a bank.

Federal Deposit Insurance Corp. Chair Martin Gruenberg said an FDIC study proves relationship-driven lending practices remain crucial to small-business lending and economic stability, despite technological advancements in the banking industry.

As part of a wide-ranging speech on community bank oversight, the Federal Reserve governor said business models should determine regulatory scrutiny rather than asset size.

New Canaan-based Bankwell's digital solution relies on software designed by Lendio to compress the application-to-funding interval and appeal to speed-conscious small-business owners.