Paul Davis

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.

Frank Sorrentino will attempt to integrate the systems at Center Bancorp a mere three weeks after the company merged with ConnectOne. The key is tremendous up-front planning — and having a crisis team at the ready, he says.

Associated Banc-Corp (ASBC) has acquired $100 million in credit card receivables tied to the Green Bay, Wis., company's customers.

United Bancshares (UBOH) in Columbus Grove, Ohio, has agreed to buy Ohio State Bank in Marion.

Univest Corporation of Pennsylvania (UVSP) in Soudertown has purchased Sterner Insurance Associates in Coopersburg, Pa.

Associated Banc-Corp (ASBC) has acquired $100 million in credit card receivables tied to the Green Bay, Wis., company's customers.

Ottawa Savings Bancorp (OTTW) in Ottawa, Ill., has agreed to buy Twin Oaks Savings Bank in Marseilles, Ill.

HomeStreet (HMST) in Seattle has sold servicing rights to about $3 billion in single-family mortgages to SunTrust Banks (STI) in Atlanta.

Bryn Mawr Bank (BMTC) in Pennsylvania will call a special meeting of shareholders to approve a new equity compensation plan after certain stock awards ran afoul of the Nasdaq.

United Community Banks (UCBI) in Blairsville, Ga., has acquired Business Carolina, a commercial lender in Columbia, S.C.

BancorpSouth (BXS) in Tupelo, Miss., has named a new president as part of a broader redesign of its management structure by Chief Executive Dan Rollins.