Bm technologies announces update to partner bank strategy and mutual termination of merger with first sound; board authorizes $10 million repurchase plan

Radnor, pa / accesswire / december 23, 2022 / bm technologies, inc. (nyse american:bmtx) ("bm technologies," "bmtx," "we," or the "company"), one of the largest digital banking platforms and banking-as-a-service (baas) providers in the country, announced today that the company and first sound bank (otcpk: fswa) ("fsb"), a seattle, washington-based community business bank, have reached a mutual decision not to move forward with the previously announced merger. the company will focus near-term strategy on a sponsor bank model.
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