Earlier this month, the Federal Reserve issued a prompt corrective action directive giving the bank 60 days to become adequately capitalized by raising capital or selling itself.

This proposal could remove a critical source of liquidity throughout the country — member institutions could be required to hold at least 10% of their assets in mortgages.

Brookline Bancorp in Massachusetts will pay $234 million in cash and stock for Bancorp Rhode Island in a transaction that will create a company with nearly $5 billion in assets.

The Buffalo, N.Y., company said that the $1.5 billion purchase created a bank with over $30 billion of assets and $18 billion of deposits in Connecticut, Massachusetts, Pennsylvania and New York.

The Federal Reserve has terminated an enforcement action against Currie Bancorp of Minnesota. Currie, the parent of the $44.9 million-asset Currie State Bank, had been operating under a written agreement since November 2008.

VACAVILLE, Calif. – Travis CU, which is in the process of merging with Metro 1 CU, plans to open three new branches after the April 30 completion of the deal, as the credit union celebrates its 60th anniversary.

The $17.5 billion-asset company's expertise with technology companies has fueled its growth in Asia, Europe, Israel and India. Next month it will make a big move into China, sending Ken Wilcox, its chief executive, to Shanghai to create a banking joint venture.

The Federal Reserve and state regulators in New York and Florida last week issued a cease-and-desist order against Banco Industrial de Venezuela.

Mercantile Bank Corp. in Grand Rapids, Mich., returned to profitability in the first quarter after two years of losses.

Southwest Bancorp Inc. in Stillwater, Okla., on Tuesday reported a first-quarter profit despite a sharp rise in its loan-loss provision.

Sterling Bancshares Inc. in Houston reported a narrow loss Tuesday for what should be its last quarter before its sale to Comerica Inc.

First National Bank of the Gulf Coast in Naples, Fla., said it is raising $148 million in capital through a private placement.

Commerce National Bank in Newport Beach Calif., on Monday posted a first-quarter profit that it credited largely to balance sheet growth.

Chemical Financial Corp. in Midland, Mich., said an acquisition helped its first-quarter earnings were more than triple from a year earlier.

Community National Bank in Great Neck, N.Y., said improved net interest income was instrumental in its posting a first-quarter profit of $623,000, compared with a $134,000 profit a year earlier.

Bank of Hawaii Corp. in Honolulu said Monday that its first-quarter earnings rose 4.4% from a year earlier, to $42.4 million.

The Justice Department has seized accounts of 31 banks as part of an investigation into illicit online poker bets.

The concept of bankruptcy as a surefire step toward recapitalization isn't always so surefire. Take the case of Nexity Bank.

CORNING, N.Y. – Corning CU opened its 14th branch, and third in North Carolina, in Wilmington to serve employees at the Corning Corp. fiber optics plant there.

The Federal Trade Commission has mailed 1,410 refund checks totaling an estimated $2.3 million to consumers allegedly defrauded by Home Assure LLC, a so-called mortgage foreclosure rescue service.