Strategic Insights into Banking & Fintech

Peoples Bancorp to buy Bank of Rantoul in Illinois bank merger

Peoples Bancorp to buy Bank of Rantoul in Illinois bank merger

Peoples Bancorp in Newton, Ill., has agreed to buy Bancorp of Rantoul in Rantoul, Ill. The $729 million-asset Peoples expects to buy the parent of the $284 million-asset Bank of Rantoul in the fourth quarter. The price of the all-cash deal wasn't disclosed. Bank of Ratoul has two branches. Rantoul Chairman and co-CEO Denny Long will join Peoples as a market president; Craig Rogers will also become a market president.

June 17, 2026
Former Fiserv chief named next CEO of Truist in North Carolina

Former Fiserv chief named next CEO of Truist in North Carolina

Truist Financial in Charlotte, N.C., has a new leader lined up. The company said in a press release that Mike Lyon will succeed Bill Rogers as president and CEO on Sept. 1. Lyon was CEO of Fiserv. Rogers, who has served as Truist's CEO since September 2021, will serve as executive chairman until he retires next year. “Through our succession planning process, it became clear that Mike is an action-oriented

June 16, 2026
Ameris in Ga. faces $80M jury verdict in wrongful termination case

Ameris in Ga. faces $80M jury verdict in wrongful termination case

Ameris Bancorp is facing a potentially material legal setback after a federal jury in California awarded nearly $80 million in damages to a former executive who sued the Atlanta company over his termination. Ameris disclosed in a regulatory filing that Patrick Byrne filed a complaint on September 2024 against its bank in the U.S. District Court for the Central District of California, alleging wrongful termination, violations of whistleblower protection laws,

June 12, 2026
United Community in S.C. to sell equipment finance business for $1.9 billion

United Community in S.C. to sell equipment finance business for $1.9 billion

United Community Banks in Greenville, S.C., agreed to sell its equipment finance business to funds managed by Wafra Inc., acting through Navitas TopCo. The $28.2 billion-asset United said in a press release that it is selling Navitas Capital for $1.9 billion in cash, resulting in a one-time pretax earnings benefit of $109 million. The sale is expected to close in the third quarter. The business accounts for a tenth of

June 12, 2026
Isabella to buy Grand River Commerce in Michigan bank merger

Isabella to buy Grand River Commerce in Michigan bank merger

Isabella Bank in Mt. Pleasant, Mich., has agreed to buy Grand River Commerce in Grandville, Mich. The $2.3 billion-asset Isabella said in a press release that it will pay $54.6 million in cash and stock for the $511.7 million-asset Grand River. The deal, which is expected to close in the fourth quarter, priced Grand River at 123% of its tangible book value. Grand River has $438.9 million in deposits and

June 12, 2026
Proposed Puerto Rican bank to focus on housing, digital banking

Proposed Puerto Rican bank to focus on housing, digital banking

A group of organizers is seeking regulatory approval to launch Dorado Bank, a proposed Puerto Rico-chartered bank that would focus on residential mortgage lending, housing rehabilitation and digital banking. Organizers of the proposed Dorado Bank applied on May 26 with the Federal Deposit Insurance Corp. and the Puerto Rico Office of the Commissioner of Financial Institutions. Its proposed parent company is Dorado Bank Financial Holdings. The application presents Dorado as

June 11, 2026
Neobank Current raises $80 million in latest funding round

Neobank Current raises $80 million in latest funding round

Neobank Current raised $80 million in a new funding round. The consumer fintech platform said in a statement that the Series E round was led by Springcoast Partners, establishing a $1.5 billion valuation. Springcoast will appoint a director as part of the investment. Earlier investors include Andreessen Horowitz, Tiger Global Management, and QED Investors. Current, which has said that it expects to attain profitability this year, said the new funds

June 11, 2026
BancFirst to buy Spirit Bank in Oklahoma

BancFirst to buy Spirit Bank in Oklahoma

BancFirst in Oklahoma City has agreed to buy Spirit BankCorp. in Tulsa, Okla. The $15 billion-asset BancFirst said in a press release that it expects to buy the parent of the $939.6 million-asset SpiritBank in the fourth quarter. The price wasn't disclosed. Spirit Bank has $618.4 million in loans and $847.2 million in deposits. "Oklahoma is our home and we are excited to bring two outstanding communities, Bristow and Sapulpa,

June 10, 2026