Community lenders do not share the problems that led to the downfall of Silicon Valley Bank and Signature Bank — but their customers and members don't always know that.

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.