Alan Kline

The Federal Reserve Board has given the troubled Commonwealth Bankshares Inc. in Norfolk, Va., until the end of July to either raise fresh capital or find a buyer.

A Florida holding company formed three years ago to buy troubled banks has struck its third deal in the Tampa Bay area.

Two of Massachusetts' oldest thrifts, Salem Five Bank and Stoneham Savings Bank, are teaming up to create a $3.1 billion-asset company that would have nearly 30 branches in the suburbs north of Boston.

Directors at Nara Bancorp Inc. and Center Financial Corp. will have a few more months to deliberate over the planned merger of the two companies.

Judge calls on HSBC's North American chief to explain foreclosure; B of A tears up the slopes; Huntington marries marketing with fine art.

Wells Fargo & Co. announced Thursday that its insurance arm has acquired EDIFY LLC, an employee benefits consulting firm based in Fort Lauderdale, Fla.

Independent Bank Corp. in Ionia, Mich., has called off a planned a public offering in which it had intended to raise up to $110 million of fresh capital.

Linda Nahra, the president and chief executive at Community West Bancshares in Goleta, Calif., has notified the company that she is stepping down at the end of the month to pursue another business opportunity.

The Japanese-based parent of Union Bank in San Francisco has restructured its U.S. operations in order to improve its efficiency and help it better identify expansion opportunities here.

ECB Bancorp Inc. in Englehard, N.C., is planning to raise $75 million in a private stock offering and intends to use a portion of the funds to exit the Treasury Department's Troubled Asset Relief Program.

Park National in Newark, Ohio, will take a higher-than-expected provision for loan losses in the second quarter due to continued credit problems at its Florida banking subsidiary.

ECB Bancorp Inc. in Englehard, N.C., is planning to raise $75 million in a private stock offering and intends to use a portion of the funds to exit the Treasury Department's Troubled Asset Relief Program.

Park National Corp. in Newark, Ohio, will take a higher-than-expected provision for loan losses in the second quarter due to continued credit problems at its Florida banking subsidiary.

People who repeatedly overdraw their accounts are very profitable, but Rusty Cloutier, CEO of Midsouth Bank i Lafayette, La., isn't so sure what's good for his bank is necessarily good for these customers.

Glens Falls National Bank and Trust Co. in New York has promoted Thomas J. Murphy to president of the bank and senior vice president of its parent company, Arrow Financial Corp., effective July 1

The Office of the Comptroller of the Currency is advising all national banks to thoroughly assess their own foreclosure policies to ensure that they treat borrowers fairly and are in compliance with foreclosure laws.

Merger-and-acquisition activity may be slow in most regions of the country, but it is picking up steam in California.

Several of the nation's largest financial services firms have teamed to recapitalize the ailing Carver Bancorp, which has been under an enforcement order since March to boost its capital ratios.

With prepaid products becoming more and more sophisticated, federal regulators are asking banks that offer such products to develop comprehensive risk-management policies and procedures to guard against potential fraud.

Private-equity groups and other have investors have committed roughly $515 million to recapitalize the ailing First BanCorp in San Juan, P.R., setting the stage for the $15 billion-asset company to convert its preferred stock owned by the Treasury Department into common stock.