Equity issuance and pending bank deals amid higher rates

BCB Bancorp priced an $85.25 million common-stock offering. The offering covers 11 million shares and is expected to close September 18; closing has not yet been reported.

Colony Bankcorp secured regulatory approvals for its First Reliance Bancshares merger. Closing is expected November 1, but shareholder votes remain pending.

Bank7 agreed to acquire Century Financial Services Corporation. The consideration is $70 million in cash and 1,232,657 Bank7 shares. Century Bank is to merge into Bank7 after the acquisition closes.

The Federal Open Market Committee raised rates by 25 basis points. The unanimous vote lifted the federal funds target range to 3.75%–4%, its first increase since 2023. Fed Chair Kevin Warsh did not say whether further increases would follow.

Federal Home Loan Bank advances rose 20% in the second quarter. Commercial banks accounted for roughly 90% of the $134 billion increase in advances during the first half of the year. The reported rise in borrowing came amid stronger competition for deposits as long-term Treasury yields rose.

Chime is buying a bank to broaden its competitive position. American Banker reports the planned purchase but does not identify the bank or provide transaction terms, leaving the scope of Chime’s intended expansion unclear.

House committee advanced a bill to change CFPB funding and authority. The 28–21 vote advanced H.R. 10184, which would subject the bureau to congressional appropriations, require a clearer definition of “abusive” and prevent its unfair, deceptive or abusive practices authority from being interpreted to cover discriminatory practices. The proposal has not been enacted.

Senate did not advance the CLARITY Act. American Banker reports that passage of the digital-asset market-structure bill in this Congress is unlikely, though another attempt remains possible. Current bank policy remains in place for now; banks had favored provisions addressing yield and crypto permissibility.