The $4.5 billion-asset Chicago company said Tuesday that it raised $25 million in a private placement with investors such as Harrison Steans, a former chairman of LaSalle National Bank; Jennifer Steans, the chairman of USAmeribancorp Inc. in Largo, Fla.; and Bruce Taylor, chairman of Taylor Capital. Investors also included other members of the Steans family and Prairie Capital.

First Defiance Financial Corp. in Defiance, Ohio, has $19.6 million of fresh equity. The $2.04 billion-asset company said Tuesday that it sold 1.6 million shares, including 208,800 shares for over-allotments, at $13.25 a share.

Center Bancorp Inc. in Union, N.J., said Wednesday that it promoted an insider to become its chief financial officer.

Hawthorn Bancshares Inc. in Lee's Summit, Mo., reported a loss of $5.5 million for 2010 after posting a profit a year earlier.

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

Regulators and small bank advocates seem to be losing the psychological battle over the Dodd-Frank Act, despite recent efforts to calm bankers.

American Airlines Federal Credit Union announced on Wednesday a remote deposit capture service.

Given the array and complexity of financial products, it's no wonder that consumers have a hard time managing their money. More choices and features are good, but only to a point.

Among the nation's banking giants, Wells Fargo has by far the strongest branch network as measured by the proportion of markets in its footprint that it dominates. Competitors like Capital One and PNC also rank high.

An estimated 417 different collection agencies and creditors were sued between March 1-15, down from 444 in the Feb. 1-15 period, according to data from U.S. District Courts.

CVB Financial Corp. in Ontario, Calif., said late Monday that it had sold the vast majority of the problem loans related to what had been its largest borrower.

Lawrence Seidman, the activist investor who has waged a series of successful proxy battles to force banks to sell, has increased his holdings in a bank that can't sell itself for at least two years.

The Federal Deposit Insurance Corp. said last week it had issued prompt corrective action orders to four of Capitol's 24 banks, including its three largest, in February. The directive to each was clear: Sell stock to raise capital to adequate levels, or find a buyer.

TCF Financial Corp. of Sioux Falls, S.D., has hired Tom Finnegan.

DECATUR, Ala. – Family Security CU has acquired a branch building in Mobile that was vacated by banking failure Woodlands Bank.

CHAMBERSBURG, Penn. – Patriot FCU received approval from the local school board to open a student-run branch in Chambersburg Area Senior High School.

Toledo Urban Federal Credit Union, a 15-year-old community development credit union in Ohio, is asking the public for a helping hand, an unusual request to keep the struggling credit union alive.

Community Bank System Inc. in DeWitt, N.Y., said Monday that it has received shareholder and regulatory approval to acquire Wilber Corp.

Chemung Financial Corp. in Elmira, N.Y., has cleared one of the final hurdles in its bid to buy Fort Orange Financial Corp. in Albany, N.Y.

Home Federal Bancorp Inc. in Nampa, Idaho, is reorganizing, along with its thrift, into a state-chartered bank.