Paul Davis

First Busey in Champaign, Ill., has agreed to buy Herget Financial in Pekin, Ill.

Nearly 40% of community banks have no plans to introduce new products and services in the next three years, according to a recent survey from the Federal Reserve and Conference of Bank Supervisors. Technology also remains a daunting challenge, along with regulatory changes and other business challenges.

The $578 million-asset company said in a press release Tuesday that it had hired Anthony Weagley as its president and CEO. He will have the same roles at Malvern’s bank.

Esther George, president of the Kansas City Fed, highlighted the shortcomings of banking regulation, especially as applied to community banks, and said the "pendulum has swung too far" on consumer protection.

The Federal Reserve is tracking the competitive climate among community banks, including the dearth of new charter activity. Key officials also used opening remarks at the Fed's community banking conference to outline ways they are trying to improve communication with bankers.

Rebeca Romero Rainey, the CEO of Centinel Bank of Taos, will use part of her speech at a Federal Reserve conference on small banks this week to discuss the need for regulatory relief and her belief that community bankers have a duty to persevere under difficult circumstances.

Zions Bancorp. in Salt Lake City is looking to redeem up to $500 million of senior notes.

Pilgrim Bancorp. in Mount Pleasant, Texas, has agreed to buy North Central Texas Bancshares in Wichita Falls, Texas.

Private-equity firms, as investor-driven organizations, have an obligation to consider cashing out when top-performing bank stocks are doing well, according to James Lockhart, vice chairman and W.L. Ross & Co.

Cape Bancorp in Cape May Courthouse, N.J., has agreed to buy Colonial Financial Services in Vineland, N.J.

Interest rate risk. Demanding regulatory and GSE standards. Shifting demographics. These are among the reasons that lenders will have a hard time balancing the call for affordable home loans with legal and market realities.

East West Bancorp in Los Angeles has been hit with a nearly $39 million in damages tied to a lawsuit from a borrower.

The Federal Housing Finance Agency is receptive to the idea of Federal Home Loan Bank mergers, according to the agency's director.

BancorpSouth in Tupelo, Miss., has been hit with a consent order tied to compliance weaknesses tied to the Bank Secrecy Act and the Patriot Act.

A large shareholder at Valley Community Bank is objecting to the Pleasanton, Calif., company's sale to FNB Bancorp in South San Francisco.

Howard Bancorp in Ellicott City, Md., raised nearly $500,000 in capital after management and directors exercised warrants to buy common stock.

Congressional Bancshares in Bethesda, Md., has agreed to buy American Bank Holdings in Bethesda.

Leaders of large community banks in the Southeast are keen on acquisitions, though their level of interest varies widely. Some, like Home BancShares in Arkansas, are eager to line up the next big deal. Others, including Bank of the Ozarks, seem content to steal lenders and open offices after several years of acquisitions.

First South Bancorp in Washington, N.C., has become the latest community bank to buy branches from Bank of America.

Regulatory delays have forced ViewPoint Financial in Plano, Texas, and LegacyTexas Group in Plano to push back the closing date for their planned merger a second time.