Yadkin Valley Financial Corp. of Elkin, N.C., said late Tuesday that it had named an insider to become its next president and chief executive.

Vista Bank Texas in Houston has agreed to buy Founders Bank of nearby Sugar Land. The $145.7 million-asset Founders will fold its single branch into the $455.6 million-asset Vista.

Har-Co Maryland Federal Credit Union in Bel Air has notified members and the National Credit Union Administration that it plans to convert to a mutual savings bank. It would become the first conversion in more than two years.

Portfolio Recovery Associates Inc. posted record fourth-quarter revenue while profits soared nearly 70% from a year earlier, the debt buyer and collection agency announced Tuesday.

PENSACOLA, Fla. – Navy FCU is building a 225,000-square-foot, $80 million building, its fourth at the credit union’s giant call center here.

Republic Bancorp Inc. is fighting to keep a right that most other banks have surrendered. The Louisville, Ky., company is preparing to square off against the Federal Deposit Insurance Corp. over refund-anticipation loans, a product that regulators have pressured several other lenders to stop making because it is viewed as predatory.

Ocean Shore said the deal for the parent company of Select Bank would boost its presence in Atlantic County and create a $1 billion-asset bank.

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.

The Federal Reserve Board acted against three banks Tuesday. Bank of Whitman in Colfax, Wash., was hit with a prompt corrective action after the Fed found that the $722.2 million-asset bank was undercapitalized and failed to submit an acceptable capital restoration plan.

"Time for a Separate Regulatory Tier for Small Banks" (Jan. 26) was on the money about the current regulatory environment and how it is impacting community banks and the overall economic recovery (or lack thereof). You have captured, with great accuracy, what community banks are facing.

Quarterly and yearly profits at Encore Capital Group Inc. beat market expectations, helped by a huge jump in gross collections, the debt buyer and collection agency reported Monday.

First Mid-Illinois Bancshares Inc. in Mattoon is raising capital through a private placement to be opportunistic. The $1.5 billion-asset company said Friday that it had subscriptions for $27.5 million of convertible preferred stock from investors, directors, executives, major customers and existing shareholders.

CBM Florida Holding Co. in Lakewood Ranch said in a press release Friday that its Community Bank & Co. had agreed to buy the $505 million-asset First Community Bank of America in Pinellas Park, Fla.

At first blush, the Obama administration's 2012 budget proposal appears to take a hatchet to the Small Business Administration.

Financial institutions are still faced with the age-old problem of trying to help their customer service representatives (CSRs) be successful at selling more banking products.

Four failed-bank deals announced Friday evening marked another successful night for private equity.

HARRISBURG, Penn. – Pennsylvania State Employees CU last week got the go ahead to build its new 235,500-square-foot headquarters in nearby Susquehanna Township.

Four failed-bank deals announced Friday evening marked another successful night for private equity.

Republic Bancorp said Friday that it had received a notice from the Federal Deposit Insurance Corp. characterizing its practice of funding loans in advance of income tax refunds as "unsafe and unsound."