The combined bank would have $150 million in assets, and would offer better service and more convenience, according to Pulaski Savings Bank and Mutual Federal Bank.

Lenders across the country selected new executives late in the summer, as did Virginia's community bank advocacy group.

The company's software helps financial institutions convert PDFs into portable financial data formats, and scans PDFs for signs of fraud.

In August's roundup of top tech news: Banks and retailers wrestle with the unseen consequences of artificial intelligence, Mastercard lays off roughly 3% of its workforce and more.

In August's roundup of top banking news: The impact of National Public Data's breach on banks, USAA agrees to $64 million settlement in overcharging case and more.

City National Bank plans a new branch in California that fulfills one of its settlement obligations with the DOJ; Fiserv and PayPal expand their tech collaboration; Banc of California's Monica Sparks steps down; and more in this week's banking news roundup.

The FDIC board chose to have another federal agency handle investigations of senior leaders based on allegations unearthed in an independent review published this spring. The move is aimed at ensuring accountability but was criticized for potential delays.

Bridgewater Bancshares agreed to acquire First Minnetonka Bancorp. in an all-cash transaction slated to close in the fourth quarter. It would create a nearly $5 billion-asset bank.

The average salary for these top compensated bank executives is more than $21 million.

The top five have more than $1.3 trillion in mortgage backed securities as of March 31.