The Sunshine State deal comes following a banner year for credit union-bank combinations, despite pushback from community banking advocates.

The Seattle-based company, which had made home loans for more than a century, announced it was quitting the mortgage business in January. It booked nearly 400 small business loans in the first quarter and expects that total to grow as its team gains traction.

Federal regulators' plan to rescind reforms to the anti-redlining Community Reinvestment Act implementation rules disappoints community advocates, but gives banks clarity by reverting to longstanding CRA rules.

The Mississippi lender said regulators have signed off sooner than expected on its $103.6 million acquisition of First Chatham Bank. The bank's CEO and deal advisers said the speedy approval bodes well for future M&A.

The Connecticut bank said its newly minted president, Steven Sugarman, successfully led a private placement and signed a long-term employment agreement that makes him a potential CEO. David Lowery, current chief executive of Patriot, plans to step down in April.

The bipartisan co-chairs of the Community Financial Development Institution caucus sent a letter urging the Trump administration to continue supporting the CDFI Fund after it was slated for cuts in a recent executive order.

President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.

An executive order issued late Friday cut the Treasury Department Community Development Financial Institution Fund and other federal programs to their legal minimum.

The KBW Nasdaq Bank Index is down more than 7% year to date. Analysts blame confusion caused by President Trump's evolving tariff policies and heightened worries about an economic downturn that could hurt banks' credit quality.

The acquisition bucks recent trends that saw depository banks eliminate mortgage lending, but the 2025 market environment may be favorable for consolidation.