#community banking

[don-lichterman]

Vernon Hill to step down as Republic First CEO

Vernon Hill to step down as Republic First CEO

Two days after an appeals court ruled that a hostile faction of Republic First Bancorp directors possessed authority to fill a vacant board seat and break a long-running deadlock, CEO Vernon Hill announced his resignation. Hill’s resignation, effective August 8, came just hours after the faction led by Chairman Harry Madonna appointed investor Benjamin Duster to the vacant role. The board is …

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[reportwire]

Barksdale Federal Credit Union is buying a bank | Credit Union Journal

Barksdale Federal Credit Union is buying a bank | Credit Union Journal

Barksdale Federal Credit Union in Bossier City, Louisiana, has agreed to buy HomeBank of Arkansas for an undisclosed price. It is the fourth deal involving the sale of a bank to a credit union in the past 10 days. “This acquisition will expand our footprint into Arkansas, and it will result in expanded product, service and technology offerings for HomeBank’s customers as well,” Patrick Gullatt,…

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[reportwire]

HarborOne in Massachusetts names next chief executive

HarborOne in Massachusetts names next chief executive

HarborOne Bancorp in Brockton, Massachusetts, will soon have a new chief executive. The $4.6 billion-asset announced Thursday that CEO James Blake will retire in May and that Joseph Casey, currently president and chief operating officer, will succeed him. Casey will also retain his title of president. Both men will continue to serve as HarborOne directors. Casey joined HarborOne in 2004 and was…

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[reportwire]

Small-business loan servicer pivots away from PPP

Small-business loan servicer pivots away from PPP

Newity, a company created to purchase and service Paycheck Protection Program loans, always knew it would have to pivot its business model once PPP activity began winding down. It’s now launching a nationwide small-dollar Small Business Administration 7(a) business. The company began building an online-lending platform in May — the same month PPP lending ceased — and recently launched a pilot…

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[reportwire]

How new bank, credit union tech bosses are preparing for 2022 | Credit Union Journal

How new bank, credit union tech bosses are preparing for 2022 | Credit Union Journal

Innovation moves ahead, despite the newest challenges presented by open banking, merger and acquisitions, hiring practices and the persistence of the coronavirus. Credit unions and community banks across the U.S. are enlisting the help of new digital leaders to best adapt to all of these developments. The importance of digital offerings at institutions of all sizes was underscored during the…

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[reportwire]

Community banks developing a lower-cost Zelle alternative | PaymentsSource

Community banks developing a lower-cost Zelle alternative | PaymentsSource

A consortium of community banks is developing a peer-to-peer payments network designed to be more affordable than existing P2P services like Zelle. The concept, called “Chuck,” is designed as an open network leveraging existing and emerging faster-payment rails like FedNow, according to Forbes, which first reported the news Monday. Such an approach could cut costs by finding the lowest-cost rails…

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[reportwire]

Home Bancorp entering Houston with deal for Texan Bank

Home Bancorp entering Houston with deal for Texan Bank

Home Bancorp in Lafayette, Louisiana, has struck a deal to buy Texan Bank that would allow it to enter the Houston market, the companies said Wednesday. The $2.7 billion-asset parent company of Home Bank is paying $66.6 million, or slightly more than $15 per share, for Texan Bank in an all-cash agreement. It is expected to be completed in the first quarter. Texan Bank is operated by Friendswood…

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