Jackie Stewart is the executive editor of American Banker Magazine. Previously, she covered breaking news, community banks and mergers and acquisitions for American Banker before being named as the managing editor of the Credit Union Journal. After graduating from Northwestern University in 2006, Jackie taught for two years in the Bronx, N.Y., through Teach for America.
Orrstown Financial Services Inc. in Shippensburg, Pa., said it expects to reach formal agreements with regulators that could require it to strengthen its credit risk management practices.
United Community Financial Corp. in Youngstown, Ohio reported a fourth-quarter profit of $7.9 million, compared with a loss of $17.3 million a year earlier, after selling four branches.
Peoples Financial Corp. in Biloxi, Miss., revised its fourth-quarter and 2011 results to record an additional $660,000 for its loan-loss provision.
MetroCorp Bancshares in Houston has revised its fourth-quarter earnings to reflect a $3 million goodwill impairment charge relating to a drop in its market value.
First Mariner Bancorp Inc. in Baltimore is looking to grow its mortgage business even as it continues to deal with elevated levels of loan losses and a shrinking balance sheet.
Citigroup has renewed a long-term deal to continue issuing private-label credit cards for Citgo Petroleum Corp., the bank said Thursday.
Reading Co-Operative Bank in Massachusetts is deploying a new core processing system by COCC to enable employees to deliver paperless, "high touch" services.
A securities class-action lawsuit against Wilshire Bancorp Inc. in Los Angeles has been dismissed after the plaintiffs failed to file an amended complaint in the case.
ECB Bancorp Inc. will no longer buy the deposits and certain assets of seven North Carolina branches from Hampton Roads Bankshares Inc. in Norfolk, Va., after funding for the deal fell through.
MB Financial Inc. in Chicago has repurchased $196 million of preferred shares issued to the Treasury Department as part of the Troubled Asset Relief Program.
VocaLink has agreed to offer its clients products from Clairmail.
Software designed to help banks with tools and technology to manage overdraft compliance, reporting, communication and risk management.
IronKey's technology will be mandatory for Guaranty Federal Bancshares' cash management customers, optional for its other business banking customers.
Discover Financial Services will have its credit cards issued outside of the United States for the first time, thanks to a new deal in Ecuador.
For the second time in less than a year, Colony Financial Inc. in Los Angeles has raised fresh capital through a stock offering.
Regions Financial Corp. will raise about $900 million in a common stock offering as part of a plan to exit the Troubled Asset Relief Program.
Wintrust Financial Corp. in Lake Forest, Ill., will raise up to $126.5 million in capital through a preferred stock offering.
As borrower delinquencies rose, TransUnion's Credit Risk Index increased 2.3%, to 123.36 in the fourth quarter from the previous quarter. Despite this uptick, the CRI was down 1.7% year over year.
First Republic Bank in San Francisco has opened a trust company in Delaware as it looks to gain a greater market share of affluent households.
Suffolk Bancorp in Riverhead, N.Y., has hired a New York banking veteran as chief lending officer and picked a chief credit officer.
