Chris Cumming

The mortgage lender and servicer New American Funding has chosen Ellie Mae's mortgage-management system.

First PacTrust Bancorp in Irvine, Calif., unveiled a management team for the residential warehouse lending division it is set to launch next month.

Patriot National Bancorp in Stamford, Conn., has appointed one of its director to become its chief executive.

BB&T (BBT) will record a hefty tax charge as it waits for the courts to resolve a longstanding dispute with the Internal Revenue Service.

Oriental Financial Group (OFG) in San Juan, Puerto Rico, hopes a new name will reflect a recent expansion.

First Scottsdale Bank in Arizona is buying a larger lender in Tucson, the Phoenix Business Journal reported Tuesday.

The Buffalo, N.Y., bank has selected Gino Martocci and two others to run the operations in the New York City region it is scheduled to acquire from Hudson City before midyear.

Standard Bancshares in Hickory Hills, Ill., has completed a capital raise from private-equity firms and named two directors.

First Security Group (FSGI) in Chattanooga, Tenn., is poised to raise $90 million from institutional investors.

Sabal Palm Bank in Sarasota, Fla., has tapped a local banker to become its leader after completing a community stock offering.

Bond Street Holdings has agreed to pay a premium of nearly 50% for the struggling Atlantic Coast, the companies announced Tuesday. Atlantic Coast announced it was exploring the possibility of a merger more than a year ago.

FirstMerit (FMER) in Akron, Ohio, has named a president of its Michigan operations as it prepares to enter the state.

Cambridge Bancorp in Massachusetts has added Donald Briggs, a specialist in retail real estate, to its board. Briggs is senior vice president of development for the Federal Realty Investment Trust.

JPMorganChase (JPM) has promoted a regional executive to lead its commercial banking unit that serves midsize businesses.

Financial technology firm Verdande is partnering with software company ITRS Group to improve its product for identifying and preventing system failures.

A California man has been accused of running a scheme to prevent banks from foreclosing on properties.

The Treasury Department has begun an auction for its Troubled Asset Relief Program stake in nine more banks.

Rheo Brouillard, a longtime director at Bankers' Bank Northeast, was tapped to succeed Ralph Shulansky, who died of a heart attack last month.

Michael Crowley Jr., the chief executive at Bank Mutual in Brown Deer, Wis., is stepping down after 45 years with the company.

Lead Bank in Garden City, Mo., plans to expand the range of services it offers by becoming a state-chartered trust company.