The all-stock transaction is slated to close in the second quarter of 2025. It would create a bank with more than $15 billion of assets.

The bank faced credit setbacks in the nation's capital and margin pressure this year. But it made a series of hires to reduce risk and diversify its loan portfolio, preparing for a new era of demand as the industry awaits interest rate cuts.

Branches are being closed at a record pace because of mergers and financial reasons. If a closed branch is in a good location and meets certain other conditions, it can represent a low-cost way for a community bank to expand.

The Minneapolis-based banking giant is enjoying its biggest year ever for 7(a) lending, with volume up 40%, as borrowers "are still coming to us," its SBA chief said.

The deal to buy the First of Long Island Corp. would create a $14 billion-asset bank with $11 billion of both loans and deposits.

REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.

The combined bank would have $150 million in assets, and would offer better service and more convenience, according to Pulaski Savings Bank and Mutual Federal Bank.

Lenders across the country selected new executives late in the summer, as did Virginia's community bank advocacy group.

Northwest Federal Credit Union in Herndon, Virginia, will follow FedEx as stadium-name partner for the Washington Commanders, gaining branding rights for which the logistics giant was paying nearly $8 million annually.

It's unclear what will happen when the Fed starts cutting interest rates, but community banks will be there to support their customers no matter what the economy looks like.

CEO Dominik Mjartan is stepping down after Optus Bank increased its assets more than 1,000% over seven years.

Bridgewater Bancshares agreed to acquire First Minnetonka Bancorp. in an all-cash transaction slated to close in the fourth quarter. It would create a nearly $5 billion-asset bank.

Challenger bank OakNorth plans to kick its marketing into higher gear. Its desired endgame in the U.S. is a banking charter and it's open to an acquisition to help get it there.

The $23 million cash transaction boosts Old Second's presence in its home Windy City market, while marking Muncie, Indiana-based First Merchants' exit from Illinois.

The combination, expected to close next year, would create a regional bank with $17 billion of deposits across 10 states.

Lower interest rates could bolster loan demand, credit quality and securities portfolios. But they could also curb lending profitability faster than they ease deposit costs, crimping net interest margins and eating into near-term profits.

The planned Altos Bank in Los Altos cleared a big hurdle this week when state regulators approved its application to open a startup bank. Organizers are hoping for a soft opening before year-end.

Increased demand from borrowers may hinge on Federal Reserve Chair Jerome Powell and his colleagues cutting interest rates this fall.

In a sea of generically named "First Banks of X" and "Community Banks of Y," financial institutions must decide if the painstaking rebranding process is worth the investment and risk to stand out.

Industry Bancshares got into a deep hole after rising interest rates tanked the value of its sizable bond portfolio. Now the Texas community bank is expecting a $195 million capital infusion and taking steps to start relying more on revenue from loans.