Richard B. (Randy) Anderson Jr. of National Capital Bancorp is set to retire as CEO of its subsidiary, The National Capital Bank of Washington, on Dec. 31. James Olevson, the current president of the bank, will succeed Anderson, effective Jan. 1.
John L. Holt, Jr. will retire as president and CEO of NexBank Capital, the parent company of NexBank, at the end of this year. Matt Siekielski, who is a director, executive vice president and chief operating officer of the company, will succeed Holt Jr.
TowneBank’s board of directors selected William (Billy) I. Foster III to succeed J. Morgan Davis as CEO. Davis will step down as CEO on Dec. 31 and will retire on March 31, 2023, after assisting with the transition process.
F.N.B. Corporation and UB Bancorp signed a definitive merger agreement for FNB to acquire UB Bancorp, including its wholly-owned banking subsidiary, Union Bank.
F.N.B. Corporation and its banking subsidiary, First National Bank, promoted Brent J. Semachko to director of corporate responsibility.
LINKBANCORP completed the merger of GNB Financial Services with and into LINKBANCORP and the merger of LINKBANK with and into The Gratz Bank.
Tecum Capital Management received a license from the U.S. Small Business Administration (SBA) to operate its third SBIC fund and concurrently held its first closing for the new fund. This third fund is nearly fully subscribed at $240 million.
Matrix Capital Markets Group, an independent investment bank, formed a capital advisory investment banking group and named John J. Whalen, a managing director for Matrix, head of the new group. In addition, M. Ryan Weir Jr., a vice president at Matrix, also joined the new group.
Robert Moorehead, chief wholesale banking officer at F.N.B Corporation, the parent company of First National Bank, will retire in January of 2021.
Companies in bankruptcy do not have access to the Paycheck Protection Program, at least according to the letter of the law. However, the issue has become less clear as illustrated by the decisions in In re Hidalgo and In re Cosi Inc. Howard M. Berkower and Franklin Barbosa Jr. of McCarter & English take a closer look at those decisions and how their inconsistencies muddy the waters.