Investment Fund in Deal for Utah Bank

One Main Street, an investment fund in New York City, has announced an agreement to buy the tiny Liberty Bank in Salt Lake City with a plan to expand it into a regional bank.

Trio of Banks Fail in Three States

Temporary charter created for Utah-based Barnes

The government seized banks in three states late Friday, bringing the failure total in the new year to four.

Fed Issues Second Ultimatum of 2010

Determining that Barnes Banking Co. of Kaysville, Utah, is "critically undercapitalized," the Fed said Monday that the company should issue new shares or sell itself to another ...

New Buyer Scopes Out Failures in Central States

A new group formed to buy failing banks plans to use its recent deal for tiny, well-capitalized Palisades National Bank as a springboard for further acquisitions.

Regulators Shut Banks in Utah, New Jersey

Federal and state regulators shut their third bank of the evening late Friday, closing $299.4 million-asset America West Bank in Layton, Utah.

Regulators Shut Three Community Banks

Ocala, Suburban, MagnetBank felled by mortgage loans

Bank failures in Utah, Maryland and Florida late Friday brought the total for 2009 to six.

Glacier Stock Sale to Fund Deals

Glacier Bancorp in Kalispell, Mont., is planning to issue up to 4.6 million shares in a public offering, and it said it would use the proceeds to "fund possible ... "

New Mexico Bank Closing Its Utah Branches

First State Bancorp. in Albuquerque plans to close its two Utah branches by Oct. 31 in an effort to strengthen its capital position and help it weather the economic downturn.

Utah Compromise Will Relax Credit Union Loan Limits

Utah is about to ease restrictions on the business loans state-chartered credit unions can make, after bankers there agreed to compromise on the issue.

Utah Group's Ads Touting Bankers' Community Role

Bankers in Utah, feeling their industry's image has suffered lately, are trying to change the public's perception with a series of commercials meant to remind residents of the role banks play in building communities.

Beehive Files for Conversion

The $177 million-asset Beehive Credit Union in Salt Lake City has filed an application with the Office of Thrift Supervision to convert to a federal savings bank and change its name to Beehive Bank.

SBA Testing Rural Lending Program

The Small Business Administration is testing a program meant to encourage more community banks and credit unions to make government-guaranteed loans in rural markets.

Delays Spur ILC to Take New Charter

When MagnetBank opened two years ago, its founders chartered it as an industrial loan company, because that charter seemed to suit its unconventional business model of funding commercial loans entirely with wholesale deposits.

In Brief: Zions Profits Meet Guidance

Zions Bancorp. said fourth-quarter net income rose 11.4% from a year earlier, to $142.7 million.