The Philadelphia bank's new CEO says a planned infusion would let it update its branch footprint, technology and other resources as part of a turnaround.

The upstate New York company said in a regulatory filing that Daniel Reininga, who has been chief executive for 12 years, will retire on March 10, following a cybersecurity attack and an OCC crackdown.

Robert Hill Jr., who had been CEO of the company before it merged with CenterState Bank in 2020, will resign in April. The company says it's replacing his position with a nonexecutive chairman "as part of a broader, ongoing effort to enhance the independence of the company's board."

The activist investor is crying foul, claiming the Dallas-based bank harassed one of his board candidates into withdrawing and rejected the nomination of another. The bank says the candidates failed to make full disclosures.

The Illinois company is smaller than other banks that have done away with the charges, but it's been substantially less reliant on overdraft revenue than some depositories. Wintrust executives explained the decision as a response to technological changes in consumer banking.

In three years as a subsidiary of $3.2 billion-asset MVB Financial, Chartwell Compliance has tripled its headcount and revenues, MVB CEO Larry Mazza said Wednesday, after announcing Chartwell's sale to New York-based Ankura.

A group including Dr. Bernice King, Martin Luther King Jr.'s daughter, and former SBA Regional Administrator Ashley Bell says the deal struck Tuesday to acquire Holladay Bank & Trust in Utah marks the first time Black investors have acquired a non-Black bank.

The company has agreed to acquire the parent of Peoples Bank in a deal expected to close in the third quarter.

A Piper Sandler survey of CEOs found a majority expect to expand their balance sheets this year. They also foresee increases in nonperforming credits, with office loans a key area of weakness, as well as heightened pressure on net interest margins.

Nothing demoralizes a good employee like seeing managers tolerate a bad one.

Jodie Harris is leaving the Community Development Financial Institutions Fund this spring to be president of the Philadelphia Industrial Development Corp.

Reducing access to funding would harm both homebuyers and communities across the country.

Executives at Wayne Savings Bancshares and Main Street Financial grew progressively more comfortable with the idea of a deal during six months of talks, Wayne Savings CEO James VanSickle says.

The Maryland bank is merging with Linkbancorp in a nearly $168 million deal that would create a $3 billion-asset company. The transaction comes just months after OceanFirst Financial and Partners nixed their merger plan, citing regulatory delays.

Buckeye State Bancshares near Columbus said it would buy cross-state rival Rockhold Bancshares. Only six such deals were announced in January, making it the slowest first month of a year for M&A since the financial crisis.

Priscilla Sims Brown's values and experiences over a long and storied career were a perfect fit with Amalgamated Bank, where she became CEO in 2021.

Brady Torgerson, former president of First Security Bank-West, was sentenced to two years in federal prison after pleading guilty to fraud at two banks.