Paul Davis

The Soboba Band of Luiseño Indians plans to form a holding company and raise $25 million for Legacy Bank.

The FDIC is pursuing the penalty five years after hitting the Delaware company with a consent order tied to BSA and AML compliance.

The issue, tied to how the company reconciles corporate accounts to its general ledger, is not expected to impact past financial statements.

A group has filed paperwork with the FDIC to form Legacy Bank in Temecula.

Dealmaking through early November is slightly ahead of last year's clip thanks to a recent flurry of merger announcements. However, excluding BB&T-SunTrust, values and multiples are shrinking.

BB&T and SunTrust had to sell the branches to get Justice Department approval of their merger, a key step toward closing the deal.

Scottsdale Community Bank's organizers took advantage of a state law letting them raise capital months before seeking deposit insurance.

The veteran banker succeeded Randy Sims, who recently retired. Sims had been the Arkansas company's CEO since replacing Allison in 2009.

More details have surfaced about Interactive Brokers' planned bank. It would accept deposits and originate loans through an online channel only, its application says.

The Maryland company agreed to acquire Rembert Pendleton Jackson, which has $1.3 billion in assets under management.