Bank News: Failed bank CEO going to jail, M&A activity, AI activity, and payment fraud

Bank news: Failed Oklahoma Bank, First National Bank of Lindsey, ex-CEO Danny Seibel plead guilty to bank fraud and now faces up to 20 years in prison and a fine of up to $1 million. Cambridge Savings Bank has agreed to acquire First Seacoast Bank in an $80 million deal. BayFirst Bank makes a change at CEO and carries out an $80 million dollar capital raise. U.S. Bank takes a quieter approach to branch expansion. M&T Bank takes a patient approach to M&A. Kraken’s parent company Payward is acquiring a Hong Kong-based payments infrastructure platform named Reap in a $600 million deal. Anthropic continues to develop new AI offerings for financial services firms. Citi looks to scale AI agents across the bank. Citi is also making their pitch on improved performance. Chime found success with its AI agent Jade. Chime is also facing three lawsuits over a potential data breach incident. Finally, Fed is looking to launch a roundtable that would focus on fighting payment fraud. This episode reviewed multiple articles from Banking Dive.