Paul Davis

Zions Bancorp. in Salt Lake City has added Edward Murphy to its board. Murphy was chief financial officer of the Federal Reserve Bank of New York from 2005 to 2013. He also served as CFO of the retail division at JPMorgan Chase from 2002 to 2004.

Solera National Bancorp (SLRK) continues to go through management changes less than a month after an activist took over the Lakewood, Colo., company's board.

Sierra Bancorp (BSRR) in Porterville, Calif., has agreed to buy Santa Clara Valley Bank (SCVE) in Santa Paula, Calif.

First National Bank of Southern California in Riverside and First Mountain Bank (FMBP) in Big Bear Lake, Calif., have terminated their planned merger.

KeyCorp (KEY) in Cleveland has agreed to buy Pacific Crest Securities, a technology-focused investment bank and capital markets firm.

Guaranty Bancorp (GBNK) in Denver has bought Cherry Hills Investment Advisors in Greenwood Village, Colo.

Bank of the Carolinas in Mocksville, N.C., has raised $46 million through a private placement. The $428 million-asset company said that it sold about 458 million shares of newly issued common stock at 10 cents each to unnamed institutional and accredited investors.

Community Bancshares in McArthur, Ohio, has agreed to buy Citizens Bank of Asheville in Ohio.

A group led by Michael Quagliano, Solera's biggest shareholder, successfully took over the company's board last month, possibly ending a lengthy proxy battle.

TowneBank (TOWN) in Suffolk, Va., has agreed to buy Franklin Financial (FRNK) in Richmond, Va.

Independence Bancshares (IEBS) in Greenville, S.C., will need to raise more capital to fund its development of new payments platforms.

First Bancshares (FBMS) in Hattiesburg, Miss., has redeemed preferred stock BCB Holding in Mobile, Ala., issued to the Treasury Department under the Troubled Asset Relief Program.

MVB Financial (MVBF) in Fairmont, W.Va., has raised more than $37 million by issuing subordinated debt and selling preferred stock.

Sun Bancorp (SNBC) in Mount Laurel, N.J., has provided more details on its sweeping restructuring initiative.

American Bank in Fond du Lac, Wis., has agreed to buy InvestorsBank in Waukesha, Wis. American Bank, a unit of NEB Corp., will have more than $450 million in assets when the merger is completed.

GNB Financial Services in Gratz, Pa., has agreed to buy FNBM Financial in Minersville, Pa.

Plaza Bank (PZBW) in Seattle has raised $4.2 million through a stock offering. The $79 million-asset bank said in a press release Thursday that unnamed individual investors participated in the offering.

Investar Holding (ISTR) in Baton Rouge, La., raised more than $40 million from its initial public offering.

UMB Financial (UMBF) in Kansas City, Mo., will settle a dispute over an asset purchase agreement.

Sun Bancorp (SNBC) in Mount Laurel, N.J., will eliminate nearly 40% of its work force as part of a major cost-cutting effort.