Marissa Fajt

Four Wachovia Corp. veterans plan to build a major regional bank in the Carolinas and Virginia, and are putting a twist on the strategy similar groups are using.

Sheshunoff Consulting and Solutions has acquired the consulting subsidiary of United Community Banks Inc. in Blairsville, Ga.

Central Valley Community Bancorp in Fresno, Calif., filed Tuesday to register roughly 1.3 million shares with the Securities and Exchange Commission.

Add Independent Bank in Ionia, Mich., to the list of companies that have successfully renegotiated the Treasury Department's investment under Tarp.

A research note from Sandler O'Neill & Partners LP last week said the $1.3 billion-asset company was required to increase capital levels, reduce problem assets, reduce exposure to construction and land loans and create a liquidity management plan.

Privately held banks that took Tarp capital are considering exit strategies now — even though the cost of the funds won't rise for another four years. But an inability to tap public markets may mean these companies will need more time to raise the money.

BofI Holding Inc. in San Diego has announced plans to raise $13.19 million in a public stock offering. The $1.4 billion-asset company, whose business niche is providing banking services over the Internet, priced the offering of 1.066 million shares at $13 per share on Tuesday, 7% under its stock's Monday closing price of $14.

Arrow Financial Corp. in Glens Falls, N.Y., said it has a deal to buy the area insurance firm Loomis & LaPann Inc. for an undisclosed price.

When Pacific Continental says it is going to be picky, it has credibility. After all, the $1.1 billion-asset company in Eugene, Ore., has made only one acquisition since 1972.

Seacoast Banking Corp. of Florida in Stuart has revised its fourth-quarter earnings, widening its loss.

Since calling off a round of capital-raising last fall, Citizens South Banking Corp. has adopted a more opportunistic approach to raising funds.

Last week's reversal of a tax court decision means Subchapter S bank owners will continue paying taxes as they have for years.

The number of banks missing the deadline for making dividend payments under the Troubled Asset Relief Program continued to rise in February.

Encore Bancshares in Houston is paying to get out of Florida. The $1.6 billion-asset company announced an agreement last week to sell its six Florida branches, with $231 million in deposits and $86.2 million in loans, in two deals that will cost the company $1 million.

Encore Bancshares Inc. in Houston is paying to get out of Florida. The $1.6 billion-asset company announced an agreement last week to sell its six Florida branches, with $231 million in deposits and $86.2 million in loans, in two deals that will cost the company $1 million.

The $667 million-asset bank, in danger of failing with more than 10% of its assets not performing, was under orders from the Federal Deposit Insurance Corp. to more than double its leverage ratio by early February and then take it up another notch by March 8. But the agency gave the Korean-focused subsidiary of Saehan Bancorp more time, and after several false starts, the bank raised $60.5 million.

With four of the Pacific Northwest's larger community players warning that they may not survive, the region is solidifying its reputation as a hub for problem banks and failures.

Sterling Bancorp in New York has priced its public offering and increased the number of shares the company will offer.

S.Y. Bancorp Inc. in Louisville announced revised fourth-quarter and full-year results after discovering a fraud-related problem loan.<

Instead of raising enough capital for a worst-case scenario, Bank of Florida plans to raise just enough to be considered adequately capitalized and plans to grow after that through earnings.