Colin Wilhelm

Foundation Bank in Bellevue, Wash., has taken a $2.9 million charge tied to a fraudulent loan and plans to report a quarterly loss later this week.

Four Oaks Bank & Trust in Four Oaks, N.C., said its May 2011 enforcement action has been replaced with a more lenient agreement that requires it to address governance issues and other matters.

First Foundation in Irvine, Calif., has begun an initial public offering to raise up to $100 million.

Guardian Mortgage has named a Bank of America executive to succeed Marcia Phillips as chief executive.

Battery Ventures, a tech-focused investment firm, has agreed to acquire Physical Security Business Unit, part of the security division of Nice Systems, a vendor that focuses primarily on the financial services industry.

YellowPepper, a Latin American mobile payments firm, named the former president and founder of defunct near-field communication (NFC) firm ViVOTech as its board chair.

CIT Group has completed its acquisition of OneWest Bank in Pasadena, Calif.

Investors Bancorp in Short Hills, N.J., reported higher second-quarter profit on expanded multifamily, commercial real estate and business lending, as well as lower expenses.

United Community Banks in Blairsville, Ga., has filed a shelf registration for senior notes to help pay for its acquisition of a South Carolina bank.

MasterCard will provide tokenization technology to the Samsung Pay mobile wallet when it launches in Europe.

Total System Services (TSYS), in partnership with commercial software provider Acquirer Systems, has launched a new EMV certification service.

Cullen/Frost Bankers in San Antonio reported higher second-quarter profit, as growth in commercial and residential construction loans offset weakness in the energy sector.

MasterCard and Citibank India have launched what they claim is the first global digital wallet service in India.

UMB Financial in Kansas City, Mo., saw second-quarter profit decline as lower revenue from its Scout Investments subsidiary reduced fee income.

Max Levchin, founder and chief executive of point of sale credit startup Affirm and co-founder of PayPal, has resigned from his position as chairman of Yelp's board.

Student lending startup CommonBond has hired Morgan Edwards, a longtime Wall Street leveraged debt specialist, as its chief financial officer.

The Federal Housing Finance Agency is still not producing enough adequately-trained examiners necessary to monitor Fannie Mae and Freddie Mac, according to an inspector general report.

Flagstar Bank far outpaced expectations for its second-quarter results due to high loan sales and a strengthened portfolio from the subtraction of lower performing loans.

MainSource Financial Group in Greensburg, Ind., has named Erin Hoeflinger, president of Anthem Blue Cross Blue Shield in Ohio, to its board and to that of its MainSource Bank.

Cornerstone Bank in York, Neb., has agreed to acquire Guide Rock State Bank in Nebraska.