The deal is expected to close late in 2023 or early next year and be immediately accretive to the combined company's earnings.

Several community banks noted an uptick in problem loans in second-quarter earnings reports. Small lenders should brace for more of this, industry observers noted.

Brian Plum abruptly stepped down as president and CEO of the Charlottesville, Virginia, company last week. Blue Ridge also announced that it would not pay a dividend in the third quarter.

Scully, who founded and then eventually sold Howard Bank, will help the Rockville, Maryland-based Capital expand its footprint in the Washington, D.C., metro area.

An executive with the Federal Home Loan Bank of Chicago pushes back on a BankThink article criticizing the Mortgage Partnership Finance program.

The New Jersey institution has hired Jeanne Scungio, a veteran banker who ran First Republic Bank's New York operations, to oversee its expansion into the Big Apple.

The average credit union member had saved $286 less in March compared to a year earlier. That was the largest per-member drop in credit union history, fueled by rising costs of living and more aggressive competition.

With no settlement in sight, Spencer Savings Bank's case against a group of former depositors it says conspired with Larry Seidman to force a conversion appears headed for a courtroom battle.

The company said long-time chief executive Chuck Sulerzyski would retire in 2024 and be succeeded by Tyler Wilcox, Peoples' executive vice president of community banking.

The Kentucky company says its newly purchased equipment financing unit will strengthen its presence in the market for leasing office furniture, computers and other lower-cost essentials that customers will still buy in an unpredictable economy.