The card giant could pay $850 million in cash for the online small-business lender, according to a person familiar with the talks.

The company said it has concerns about a large amount of accounts receivable it bought in July.

Prior to the merger, First Castle was the nation's second-oldest existing federally chartered credit union.

Spinning off its digital bank will allow Pennsylvania-based Customers to beef up its commercial lending and buy other banks. BankMobile, meanwhile, plans to pursue more white-label relationships and perhaps explore its own acquisitions.

Just eight loans had been made as of late July, six of them through a single community bank in Florida, according to new data on the federal rescue program for small and midsize companies hurt by the pandemic.

The digital bank would be sold to Megalith Financial, allowing Customers to focus on commercial lending and letting BankMobile expand more aggressively.

The company will pay an undisclosed amount of cash for Marshall Financial, the parent of Citizens Bank.

Delmar Bancorp will lose its regionally associated brand when it becomes Partners Bank.

Payment processor Elavon purchased Sage Pay four months ago, completing the acquisition on March 11. Two days later, Elavon's entire workforce was operating remotely as the coronavirus forced it into lockdown.

With its acquisition of Montreal-based Mobeewave, Apple has placed a long-term bet on where it sees the payments industry headed.