COLUMBIA, S.C. and DURHAM, N.C. — In a move that signals a seismic shift in the landscape of American community banking, two of the nation’s most storied Black-owned financial institutions, Mechanics & Farmers Bank (M&F Bank) and Optus Bank, have announced a definitive merger agreement. The deal, valued at approximately $105 million, will create a…
ANCHORAGE, AK – In a move that signals a significant shift in the competitive landscape of West Coast community banking, Northrim BanCorp, Inc. (NASDAQ: NRIM), the parent company of Northrim Bank, has announced a definitive agreement to acquire People’s Bank of Commerce (OTC: PBCO), headquartered in Medford, Oregon. The strategic merger, valued at approximately $32.36…
July 16, 2026 In a move that has sent shockwaves through the consumer advocacy community and financial regulatory circles alike, Opportunity Financial (OppFi)—a prominent provider of high-interest installment loans—has formally petitioned federal authorities for approval to acquire BNC Bank. If successful, this acquisition would facilitate the creation of "OppFi Bank," a national institution that would…
RICHLAND, WA — In a move that signals a significant shift in the Pacific Northwest’s financial landscape, Richland-based Gesa Credit Union announced on Tuesday a definitive agreement to acquire Willamette Valley Bank. This acquisition marks Gesa’s first foray into the Oregon market, representing a milestone in the credit union’s aggressive expansion strategy and a continuation…
In an era where consumer loyalty is increasingly fickle and the battle for deposit primacy has reached a fever pitch, Bank of America (BofA) has unveiled a significant evolution in its relationship-banking strategy. Since the late May launch of its revamped, no-fee “BofA Rewards” program, the financial giant has successfully enrolled more than 3 million…
WASHINGTON, D.C. — In a move that underscores the Federal Reserve’s intensifying scrutiny of internal controls within community banking, the Board of Governors has officially prohibited James Burns, the former Chief Lending Officer of Heritage State Bank, from participating in the banking industry for life. The enforcement action, announced on July 21, 2026, follows a…
By PYMNTS | July 21, 2026 In an era where the digital transformation of banking is no longer a competitive advantage but a baseline requirement, Bank of America (BofA) has taken a significant leap forward in bridging the gap between automated efficiency and human-centric service. On Tuesday, July 21, 2026, the financial institution announced a…
CHARLOTTE, N.C. – In a move that signals a significant shift in the operational landscape of modern finance, Bank of America (BofA) has announced the full-scale integration of Generative Artificial Intelligence (GenAI) capabilities into EricaAssist, the institution’s internal AI-powered co-pilot. Designed to support the bank’s sprawling network of customer service associates, the upgraded tool aims…
COLUMBUS, NEBRASKA — In a case that has sent shockwaves through the Nebraska community banking sector, Aaron Luneke, the former Chief Financial Officer of Bank of the Valley, has been sentenced to 36 months in federal prison. The sentencing, handed down by U.S. District Judge Brian Buescher, marks the conclusion of a high-profile legal battle…
LENEXA, KANSAS — In a move that underscores the tightening regulatory grip on undercapitalized financial institutions, Kansas state regulators officially closed Lenexa-based Small Business Bank on Friday. The Federal Deposit Insurance Corporation (FDIC) was appointed as receiver, marking the fourth bank failure in the United States in 2026 and signaling continued volatility within the small-cap…
