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.