Chris Cumming

Republic First Bancorp (FRBK) in Philadelphia has settled a lawsuit for $2 million, which may delay its ability to claim a large deferred-tax allowance.

Mark Severson plans to resign from Chemung Financial in Elmira, N.Y., Sept. 13 to pursue another opportunity, the $1.3 billion-asset company said Tuesday in a regulatory filing. Chemung will begin a search for his successor immediately.

Holly Schreiber will step down Wednesday as chief financial officer of 1st Financial Services in Hendersonville, N.C. She will remain as a consultant while its sale to First Citizens BancShares (FCNCA) is being completed.

Marie Blake now oversees the $13.1 billion-asset company's regulatory compliance department, it said Tuesday.

Pacific Commerce Bank (PFCI) has completed corrective steps mandated by the Federal Reserve Bank of San Francisco.

Independent Bank in Ionia, Mich., has exited the Troubled Asset Relief Program.

A judge has approved Anchor Bancorp Wisconsin's plan to file for bankruptcy.

Everett Stern, who worked at HSBC Bank USA for two years, has given federal authorities emails and other documents that, he says, show HSBC committed anti-laundering violations beyond those covered by its $1.9 billion settlement. He has urged them to open a new investigation.

Total domestic deposit balances at institutions insured by the Federal Deposit Insurance Corp. fell by $31 billion, or 0.3%, in the second quarter, according to analysis from Market Rates Insight.

Fifth Third said Thursday that it has introduced three checking accounts for business clients. The new offerings were designed in response to customer feedback and are intended to simplify the company's business-checking products.

Commonwealth Business Bank (CWBB) in Los Angeles has added veteran banker Alvin Kang to its board.

WSFS Financial in Wilmington, Del., has repurchased preferred shares it issued the Troubled Asset Relief Program.

Bill Heffernan has done it all over four decades in Miami banking, and has even been a mayor of a small town. Now, as a new board member of Apollo Bank, he'll advise the community bank on growth strategies.

BankUnited (BKU) says a factoring firm overstated its relationship with the Miami Lakes, Fla., bank.

The Federal Reserve Board has given Valley National Bancorp in Wayne, N.J., approval to redeem $127.5 million of trust-preferred securities.

State Bank Financial Corp. in Atlanta has named a new credit guru.

Heartland Financial (HTLF) in Dubuque, Iowa, plans to raise up to $75 million.

GNB Financial in Gratz, Pa., has agreed to buy Liberty Centre Bancorp in Pottsville, Pa.

Unity disclosed in a regulatory filing Wednesday that it paid the Treasury Department $2.7 million to repurchase a warrant to buy about 765,000 shares of common stock.

The Swiss banking giant said Wednesday that it expects to invest $36.5 million and to bring about 1,000 workers to the city as part of the expansion. The company will add the jobs over the next five years.