The Wilmington, Delaware, bank announced this week that it had purchased Bell Rock Capital. WSFS' management says that legal troubles involving that investment advisory firm's founder won't affect the transaction.

The $1.6 billion-asset company said in a press release Wednesday that its directors "voted to terminate" Kevin Lycklama's employment. Dan Cox, chief credit officer, was named as acting president and CEO.

The nearly $81 million plan to buy Community Financial Group in Spokane, Washington, would mark the 13th acquisition in the past decade for Glacier. The Montana-based bank has more than tripled in size during that time.

Bankers say regulatory burden, rising costs and intensifying competition will reignite a drive for scale and spur dealmaking provided interest rates level off and the economic outlook improves.

Texas State Bankshares has agreed to buy Estrada Hinojosa & Co., one of the nation's biggest municipal underwriting and advisory firms.

Activity in the primary market kicked off with a number of banks announcing debt deals overnight, including BNP Paribas, which became the first European bank to sell additional tier 1 notes in U.S. dollars since the writedown of Credit Suisse securities.

The Vancouver, Washington, company disclosed in a regulatory filing that Kevin Lycklama was under investigation. It elaborated only to say that the matter did not involve the bank's financial condition.

First Foundation lines up James Britton as its next CFO, AI wealth-platform TIFIN announces additions to its executive leadership team and more in the weekly banking news roundup.

The five-year employment agreement with CEO Bryan Jordan follows a failed acquisition effort by TD Bank. The deal suggests that Jordan is seen as critical as the Memphis, Tennessee-based bank charts an independent course in the coming years.

Kansas Banking Commissioner David Herndon told American Banker that his agency declared Heartland Tri-State Bank insolvent because of a "very sudden" event that crippled the bank financially.

When Bitfinex was hacked, Bitcoin was trading under $1,000. It had skyrocketed to $44,000 by the time the couple was arrested in early 2022, pushing up the value of the stolen assets to $4.5 billion, of which $3.6 billion was recovered by authorities.

The Minneapolis company is issuing stock to the Japanese banking giant that previously owned MUFG Union Bank in order to repay part of a $3.5 billion obligation. The move will also boost a key capital ratio, which sagged after the deal was completed, but is expected to cut into U.S. Bancorp's earnings per share.

Critics of the proposed deal between the National Association of Federally-Insured Credit Unions and the Credit Union National Association say their combination could drown out the concerns of the groups' smallest members.

BofA is the first large Wall Street bank to officially reverse its call amid growing optimism about the economic outlook.

While financial markets wobbled after Fitch Ratings reduced the U.S. government's credit rating, analysts said the action should have little long-term impact, similar to a downgrade by Standard & Poor's in 2011. JPMorgan Chase CEO Jamie Dimon argued that Fitch's action "doesn't really matter that much."

The Seattle bank, which has lost about two-thirds of its market value this year, is also said to be considering raising capital and selling assets.

A Figure spokesperson said the decision to withdraw the banking charter application was to enable the company to focus on other areas of growth.

This is the third time the Wells Fargo has tapped the bond market in recent weeks. The bank previously raised $8.5 billion and $1.7 billion of bonds after the lender's second-quarter earnings beat estimates.

The measures will make certain activities such as mortgages and small-business lending harder for banks, Dimon said.

Harborstone Credit Union in Lakewood, Washington, plans to take over the Seattle Bank, which scuttled a deal to sell to BM Technologies last year.