JPMorgan Chase acquired San Francisco-based First Republic Bank this morning after the California Department of Financial Protection and Innovation seized the failed regional bank and appointed the FDIC as receiver. JPMorgan Chase, which bid on the bank during a weekend auction, agreed to acquire $92 billion of deposits, $173 billion of loans and roughly $30 … Read more
Erin DuBois joined Chelsea, Mich.-based Chelsea State Bank as a vice president and commercial loan officer. DuBois has spent more than 30 years working in commercial lending, also gaining experience as a credit analyst, commercial loan officer and credit approval officer at community and national banks. She spent the last 12 years as a regional … Read more
Huntington, Ind.-based First Federal Savings Bank CFO Christopher Cook will resign on June 9 to accept a president/CEO position at another community bank. Cook had served as executive vice president and CFO for the past 18 months. According to the $445 million bank, Cook had no disagreements with the bank nor its holding company, Northeast … Read more
Boston-based Risk Strategies is acquiring Johnson Insurance Services, the insurance subsidiary of Racine, Wis.-based Johnson Financial Group. [Continue]
Consumer confidence readings taken this month indicated mixed sentiments amid increasing interest rates and recessionary fears. [Continue]
Open banking presents potential opportunities as well as safety risks, said Acting Comptroller of the Currency Michael Hsu. [Continue]
Caledonia, Minn.-based ESB Bank President Ronald Chamberlin stepped down from the position in March. Chamberlin, co-owner of ESB Banking & Insurance Group, had led the company for more than 30 years since he took ownership in 1992. He was succeeded by co-owner Nathan Wurm who has worked at the bank since 2007. Another co-owner, Eric … Read more
Oregon, Wis.-based One Community Bank will expand into Minnesota early next year by opening a branch in the Twin Cities suburb of Cottage Grove. [Continue]
Indiana-based Centier Bank hired Doug Wood as market president of its Greater Fort Wayne, Ind., market. Wood has served in leadership roles in the banking and financial industry over the past three decades. He has a Bachelor of Science degree from Ball State University, Muncie, Ind., and an MBA from Western Michigan University, Kalamazoo. “Centier … Read more
Marshfield, Wis.-based Forward Bank donated $50,000 to support the Owen-Withee School District public safety building project. The project received a grant from the Federal Emergency Management Agency. The building will house additional classroom space and common areas. “This has been a great project to see Forward Bank support in our community,” commented Sara Blume, a … Read more