Joseph Kellard

Ally Financial in Detroit has agreed to provide up to $600 million in financial backing for Carvana’s online auto sales.

Lakeland Bancorp in Oak Ridge, N.J., has named a new chief financial officer and chief operating officer as two other executives plan to retire.

F&M Bank Corp. in Timberville, Va., has acquired Valley Southern Title in Harrisonburg, Va.

First Midwest Bancorp will move its headquarters to Chicago from Itasca, Ill., next year. The $11.6 billion-asset company will open an 80,000-square-foot office in the spring of 2018.

The acquisition is one of several mergers PenFed has made in the last year.

OptimumBank in Plantation, Fla., has been hit with an enforcement action due to concerns about its asset quality, capital position, compliance with anti-money-laundering regulations and other issues.

Capital One Financial in McLean, Va., is facing regulatory delays in its bid to buy a credit card business from the outdoor equipment chain Cabela's.

Capital One Financial in McLean, Va., is facing regulatory delays as it looks to buy a credit card business from outdoor equipment chain Cabela's.

The Treasury Department has significantly reduced its stake in Broadway Financial in Los Angeles.

Dime Community Bancshares in Brooklyn, N.Y., said Friday that it has promoted Roberto Volino to chief operating officer.

United Community Bancorp in Lawrenceburg, Ind., has named a new chief financial officer.

Highlands Bancorp in Vernon, N.J., has raised $8.5 million through a sale of common stock.

Regions Financial President and CEO Grayson Hall and the CEO of a Miami bank have been elected to the board of the Federal Reserve Bank of Atlanta.

Add Investar Holding in Baton Rouge, La., to the growing list of community banks filing shelf registrations.

The Federal Reserve has freed Cole Taylor Bank from an enforcement action two years after the Chicago bank was acquired by MB Financial.

Sussex Bancorp in Rockaway, N.J., has raised $15 million by selling fixed- to floating-rate subordinated notes to an institutional investor. It did not name the investor.

FirstBank in Lakewood, Colo., named the successors to its CEO and president, who are both retiring after holding those titles for 17 years.

Equity Bancshares in Wichita, Kan., has raised $35.4 million in a common stock offering and plans to use the proceeds to pay down a line of credit and support growth.

Iberiabank in Lafayette, La., has exited loss-share agreements tied to several failed banks it bought after the financial crisis.

Prosperity Bancshares in Houston filed a shelf registration to sell a variety of shares.