Paul Davis

VantageSouth Bancshares in Raleigh, N.C., announced that its president will resign.

First Citizens Bancshares in Raleigh, N.C., has agreed to buy 1st Financial Services in Hendersonville, N.C.

First Financial Bancorp (FFBC) in Cincinnati has retooled the management structure of its bank.

Webster Financial in Waterbury, Conn., has promoted one of its executives to run its personal bank operations.

Hamilton State Bancshares in Hoschton, Ga., has agreed to buy Cherokee Banking in Canton, Ga.

Community Bank Shares in New Albany, Ind., has lowered its cost estimates for integrating First Federal Bank in Lexington, Ky.

Capitol Bancorp (CBCRQ) has lost another bank after regulators closed its Sunrise Bank of Arizona on Friday.

Community South Bank in Parsons was shut down by Tennessee regulators Friday.

Market conditions settled down in July after a spike in long-term rates spooked borrowers and bank executives a month earlier.

Delmar Bancorp is giving up a 40% stake in itself to an outside investor, who will cancel Tarp shares he won in a Treasury auction. The investor will also invest cash and forgive unpaid Tarp dividends.

BNCCorp (BNCC) in Bismarck, N.D., named Timothy Franz its permanent chief executive less than a month after he become interim CEO.

Delmar Bancorp in Salisbury, Md., has worked out an arrangement to redeem preferred stock from an outside investor.

The $1.8 billion-asset company said late Thursday that Patrick Bevack, who is 67, will retire as president and CEO next year.

Carolina Alliance Bank (CRLN) in Spartanburg, S.C., has agreed to buy Forest Commercial Bank in Asheville, N.C.

First M&F (FMFC) in Kosciusko, Miss., revised its second-quarter results, turning previously reported earnings into a loss.

Baylake (BYLK) in Sturgeon Bay, Wis., has agreed to sell $26 million in deposits from two branches to 1st National Bank of Berlin in Wisconsin.

Suffolk Bancorp (SUBK) in Riverhead, N.Y., will record a pretax gain of nearly $4 million in the third quarter after selling shares in Visa.

Hanmi Financial (HAFC) in Los Angeles has hired Bonita Lee, a recently departed executive from BBCN Bancorp (BBCN), as its chief operating officer.

SouthCrest Financial (SCSG) in Peachtree City, Ga., has raised nearly $18 million from a group led by Castle Creek Capital.

Coastal Bank in Savannah, Ga., has been freed from a regulatory order.