Orca and Loopscale merged to operate as Formation, led by Loopscale co-founder Luke Truitt.
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Houston-based Third Coast Bancshares agreed to acquire Great Plains National Bank's parent in a $240 million all-stock deal. Great Plains has $1.9 billion in assets, $1.7 billion in deposits and 23 branches across Oklahoma and Texas, and will operate as a division of Third Coast Bank.
Anchorage Digital bought Routable to pair stablecoin issuance and custody with payout distribution; terms were not disclosed.
Merit acquired Buffalo-area Moldenhauer & Associates, which oversees about $1.1B in client assets; terms undisclosed.
Arthur J. Gallagher's Pen Underwriting bought Wexford-based Ornella Underwriting; terms undisclosed.