Paul Davis

First Financial Holding has 90 days to provide the Fed with a written plan to improve oversight of risk management and anti-money-laundering compliance.

The Federal Reserve has ordered First American International Corp. to serve as a source of strength to its Brooklyn, N.Y., bank.

Luzerne National Bank Corp. in Luzerne, Pa., has agreed to buy a branch from CCFNB Bancorp Inc. The $280 million-asset company will also get $17.1 million of deposits located around Hazelton, Pa., according to a Friday filing with the Securities and Exchange Commission.

Evolve Financial Group Inc. in West Memphis, Ark., said its bank has added a Small Business Administration division.

First Midwest Bancorp Inc. in Itasca, Ill., has added a director. The $8.15 billion-asset company said that Peter Henseler, the president of toymaker RC2 Corp., had joined its board.

Sun Bancorp Inc. in Vineland, N.J., said it raised about $81 million in net proceeds from a recent public offering.

People's United Financial Inc., which recently entered mortgage warehousing, has amassed credit applications for almost $500 million, according to a company executive.

The $958.3 million-asset company named Bruce Boyea a director. Boyea is the chairman, president and chief executive of Security Mutual Life Insurance Co. of New York.

Central Bancorp Inc. in Somerville, Mass., has added a banking veteran to its board. Gerald Mulligan will also be a director at Central's unit Central Co-Operative Bank, the $512.3 million-asset company said in a press release Friday.

Macatawa Bank Corp. in Holland, Mich., is asking its shareholders to approve a hefty increase in the number of authorized shares of common stock.

Another banking company is moving forward with raising capital: 1st United Bancorp Inc. in Boca Raton, Fla., announced plans to sell $32.5 million of common stock.

The number of banks and thrifts deferring dividends on preferred stock from the Troubled Asset Relief Program rose last month, according to a report.

Tri-Valley Bank in San Ramon, Calif., said late Monday that it had terminated a planned $10 million private placement and had named a new chairman.

The Federal Reserve Board on Tuesday announced written agreements with two banks.

The Federal Reserve has ordered Outsource Holdings Inc. to serve as a source of strength to its Dallas bank.

Emclaire Financial Corp. in Emlenton, Pa., raised its quarterly dividend by 14%. The $481.9 million-asset company declared a dividend of 16 cents a share, compared with 14 cents a quarter earlier.

The Federal Reserve Board said it has reached a written agreement with Westside Banking Co. of University Place, Wash.

Blackhawk Bancorp Inc. of Beloit, Wis., reported a 52% increase in fourth-quarter earnings from a year earlier as an improved net interest margin offset higher credit costs.

National Penn Bancshares Inc. of Boyertown, Pa., said late Monday that Michael Martin had joined its board as part of a recent capital infusion by Warburg Pincus.

CoBiz Financial Inc. of Denver said late Monday that it would record a $15.6 million valuation allowance for deferred tax assets.