The Roseville, California institution is expanding into the Bay Area in hopes that it can land new clients and lenders in the wake of two large regional failures there this year.

A new bank has taken the top spot on American Banker's annual list of the highest-performing institutions with less than $2 billion of assets.

The top 200 publicly traded banks with less than $2 billion of assets capitalized on their strong loan portfolios and interest income. But given a shift in the economic environment and banking industry, performance challenges are expected to intensify through 2023.

The Dallas-based institution has hired Dan Sheehan, a veteran banker and the former CEO of Professional Bank, to head the effort that will include opening a branch in Palm Beach County later this year.

The seller announced the delay to give it time to solicit more votes in favor of the deal. It plans to push a June 13 meeting to next month, when shareholders will decide whether to approve the transaction.

After shares dropped in the aftermath of recent failures, most banks demonstrated resilience and investors started to buy back into the sector.