The new employment agreement with veteran banker John Kanas comes just weeks after reports surfaced that the Florida company was again weighing offers to sell.

Citigroup agreed to pay $590 million in cash to settle a lawsuit by investors alleging the bank hid risks tied to toxic assets, the plaintiffs said.

Cordia Bancorp will invest $3 million to consolidate control of Bank of Virginia in a move Jack Zoeller, Cordia's CEO, says will position the company to make acquisitions and raise capital.

Bank of America (BAC) and Fifth Third (FITB) have joined a growing number of large banks that have simplified disclosure notices on retail checking accounts.

First Community Financial Partners in Joliet, Ill., will combine its four banks under a single charter to increase the availability of products at each one.

BB&T will have seven new (sort of) faces on its board next year when the company expands to 19 directors from 15 and replaces three retirees.

In a series of letters, the agency asked Assurant to break out revenues in states investigating the industry and assess the effect such probes would have on its bottom line.

The five largest U.S. mortgage servicers say they have provided about $10.6 billion in relief to troubled borrowers under the terms of a $25 billion legal settlement over abusive foreclosure practices.

Lakeland Bancorp (LBAI) is planning to raise more than $25 million through two offerings.

Eastern Federal Bank of Norwich, Conn., has applied to the Connecticut Department of Banking to switch from a federal charter to a state charter.

Bank of Oklahoma in Tulsa this week hired former Fannie Mae executive Elliot Salzman as vice president in charge of correspondent lending.

The political game in Washington might not be one former SIGTARP Neil Barofsky was willing to play, but it suits Wall Street lobbyists perfectly. What are we, citizens and taxpayers, supposed to do now?

Bank of Montreal, Canada's fourth-biggest lender by assets, raised its dividend for the first time in five years after posting third-quarter profit that climbed on added earnings from U.S. consumer banking.

Assurant, facing reviews into whether it overcharges for insurance that some homeowners are compelled to buy, expanded disclosure about its profits after an inquiry from the SEC.

Two shareholders have filed a lawsuit arguing that the prepaid company withheld material information about the competitive climate and the potential impact on its operations.

FDIC's Quarterly Banking Profile shows broad improvements in the number of institutions making more loans. But with rock-bottom interest rates squeezing margins, banks yet again looked toward reduced loss provisions to drive earnings.

Citigroup (NYSE: C) has agreed to pay nearly $25 million to settle claims that it misled investors about the risk of certain mortgage-backed securities, according to Reuters.

Isis, the mobile-payment joint venture backed by AT&T, Verizon and T-Mobile, is on track for a debut in September, following months of delays and a change in strategy last year.

The Office of the Comptroller of the Currency has released PVF Capital's (PVFC) bank unit from an enforcement order after the Solon, Ohio, bank met capital requirements.

Hampton Roads Bankshares finds itself between a rock and a hard place. As a Tarp participant, it has refused to pay severance to several former executives. Several of those officers, including former CEO Jack Gibson, filed lawsuits asserting that their employment contracts preempt the Tarp prohibition.