Alan Kline

Bank of America's plan to eliminate roughly 3,500 jobs this quarter marks just the start of an efficiency drive that could reduce the company's global workforce by about 10%.

First Bancorp in Troy, N.C., has received $63.5 million from the Treasury Department's small-business lending program and has used the funds to exit the agency's Troubled Asset Relief Program.

The Federal Reserve Board's decision to hold public hearings and extend the comment period on Capital One Financial Corp.'s planned acquisition of ING Direct has drawn the ire of House Financial Services Chairman Spencer Bachus.

Its purchase from FIA Card Services is part of a broader trend of banks taking back management of their cards.

Regions Financial Corp. of Birmingham has named Ruth Ann Marshall, a former top executive at MasterCard International Inc., to its board of directors.

Waccamaw Bankshares Inc. in Whiteville, N.C., has until late September to file certain financial statements with the Securities and Exchange or else its thinly traded stock could be removed from the Nasdaq exchange.

As part of its ongoing effort to bolster its capital base, embattled Capitol Bancorp Ltd. is selling its ownership stake in an Ohio bank it co-founded to a group of local investors.

In a widely anticipated move, Bank of America Corp. announced Monday morning that it is selling half of its stake in China Construction Bank to a group of investors for $8.3 billion.

Under orders from its regulators to boost a key capital ratio, Pacific Mercantile Bancorp in Costa Mesa, Calif., announced that it has already raised $11.2 million of fresh capital and has a deal in place to raise $27.3 million more.

Texas Capital Bancshares Inc. in Dallas has lost the first round in a legal battle over a loan it made to an Oklahoma automobile dealer that soured.

Old National Bancorp in Evansville, Ind., announced Friday that it is shuttering nine of the 52 branches it inherited when it took over the failed Integra Bank and will move the accounts to nearby offices.

Two more community banks have exited the Treasury Department's Troubled Asset Relief Program with loans they received from another government fund designed to encourage small-business lending.

A small Silicon Valley bank that lends primarily to technology startups has opened a lending office in incubator space in Boston.

First Busey Corp. in Champaign, Ill., has received $72.6 million from the Small Business Lending Fund, the largest award to date since the Treasury Department began disbursing funds to community banks last month.

The New York Stock Exchange has warned Flagstar Bancorp Inc. that its stock is in danger of being delisted because it has traded at an average of less than $1 for 30 consecutive days.

Broadway Financial in Los Angeles is planning to close two of its five branches as part of a broader plan to trim overhead and preserve capital.

Bank of America Corp.'s stock is poised for a rebound Thursday morning on news that Warren Buffet's Berkshire Hathaway is investing $5 billion in the company.

Analysts Richard Bove and Meredith Whitney said B of A is not in a capital crisis. Meanwhile, the company is fighting back against critics and calling merger specualtion "baseless."

City Holding Co. in Charleston, W.Va., said Tuesday that it has agreed to pay $3 million to settle a class-action suit in which depositors accused the $2.7 billion-asset company of improperly assessing overdraft fees.

First BanCorp's bid to raise more than $560 million of fresh capital hit a snag this week after the San Juan, P.R., company failed to obtain enough shareholder votes to proceed with its plan to issue 150 million of new shares.