The fintech company, which was forced to rebrand its cash management product last year after misleading marketing caused a backlash, is seeking a national bank charter.
The two banks, which plan to complete their merger by early fall, have little geographic overlap, so they can keep lending teams in place and push for immediate loan growth, according to Craig Dahl.
The Minneapolis bank will open about 10 branches in North Carolina's largest city by the end of next year, adding to already intensifying competition among big banks.
President Trump said he won't nominate Cain for a seat on the Federal Reserve Board after opposition from his own Republican party appeared to sink the former pizza company executive's hopes for Senate confirmation.
Columbia Banking CEO Hadley Robbins says he's confident the bank can grow on its own as the number of buyout targets in the Pacific Northwest dwindles.
