Community banking

The company will pay $29 million for Town-Country National Bank in Camden, Ala., which will operate as its own subsidiary after the deal closes.

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Walter Kaczmarek, who ran the bank from 2005 to 2019, will also serve as interim president following the retirement of Keith Wilton.

Community banks with meager tech budgets need help identifying the right systems for institutions their size and finding good partners, says Sultan Meghji, who recently joined the Federal Deposit Insurance Corp. in this newly created role.

The acquisition of Golden Pacific Bank will accelerate the online lender’s effort to become a full-service bank.

“We were already shifting to recruiting more problem solvers than people handling transactions,” said Robert Fisher, CEO of Tioga State Bank in New York and incoming chairman of the Independent Community Bankers of America. “That pace of change has accelerated.”