Pentagon Federal Credit Union has hired a former bank executive to run one of the most active funders of military charities in the U.S.

Atlantic Coast Federal Corp. in Waycross, Ga., said late Monday that it would raise about $17.1 million in its mutual-to-stock conversion.

A federal court has frozen the assets of corporations and an individual behind a vast Internet enterprise that allegedly made more than $275 million after luring consumers into “trial” memberships, and bogus government-grant and money-making schemes.

Beneficial Mutual Bancorp Inc. in Philadelphia swung to a $9 million loss in 2010, primarily as a result of higher credit costs.

First of Long Island Corp. in Glen Head, N.Y., said Monday that 2010 earnings increased 36.6%, to $18.4 million. The $1.7 billion-asset company also said earnings per share increased 25% for the year, to $2.30 from $1.84 in 2009.

First Mariner Bancorp in Baltimore said Monday it had a fourth-quarter a net loss of $33.4 million after reducing the value of some deferred-tax assets.

PNC appears to be willing to pay up to expand on Florida's west coast, entering into a deal to buy 19 branches and $350 million of deposits from BankAtlantic at a 10% premium.

North Carolina Attorney General Roy Cooper's office last week banned a foreclosure assistance company from offering loan modification and foreclosure assistance services in the state.

The same securities once used to boost capital at most bank holding companies have moved to the forefront of prospective buyers' questions in acquisitions or capital raises, bank attorneys said.

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BankAtlantic Bancorp said Monday that PNC Financial Services Group has agreed to buy 19 of its Florida branches and $350 million in associated deposits.

A price tag for the deal, but BankAtlantic said PNC has agreed to pay a premium for the approximately $350 million associated with the branches plus two related facilities.

SAN DIEGO – San Diego County CU opened its 28th branch location, in Oceanside, near a Wal-Mart.

Regulators closed four banks late Friday, including the largest based in New Mexico, resulting in over $500 million of losses to the Deposit Insurance Fund.

MB Financial Inc. in Chicago earned $595,000 in the fourth quarter, compared with a loss $12.4 million a year earlier, as net interest income grew and credit costs subsided.

Sterling Bancorp in New York said its net income grew 75% in the fourth quarter, from a year earlier, as noninterest income grew and credit costs declined.

Glacier Bancorp Inc. in Kalispell, Mont., said its quarterly net income was flat from a year earlier as lower interest income offset a dip in the loan-loss provision.

Banking companies were not alone in reporting improved 2010 financial results. A growing number of big, troubled credit unions are also reporting positive income for last year, and others are slashing their losses, more proof of an improving economy.

Tower Bancorp Inc. in Harrisburg, Pa., announced last week that nine directors resigned as part of a plan to streamline its board.

The Federal Reserve Board said Thursday that it had issued a prompt-corrective-action order to Virginia Business Bank in Richmond.