The collection business has an exceptionally high churn rate compared with other industries, approximately 90% annually, according to industry sources.

NORTH HIGHLANDS, Calif. – SAFE CU opened a new branch, its 22nd, to serve residents in Carmichael and Orangevale.

The president and chief executive of Pinnacle Bankshares Corp. in Altavista, Va., is retiring. Robert Gilliam Jr., will leave in a "midyear 2011 time frame," the $303.5 million-asset company said Tuesday in a press release.

Fourth-quarter earnings at Fulton Financial Corp. in Lancaster, Pa., improved from a year earlier in part because of higher mortgage income and a lower loan-loss provision.

Century Bancorp Inc. in Medford, Mass., earned $13.6 million in 2010, boosting net income 33.6%. Fourth-quarter net income at the $2.4 billion-asset company rose 27.2% from a year earlier, to $3.9 million. The results were announced Tuesday.

Hancock Holding Co. in Gulfport, Miss., reported late Tuesday that its net income increased nearly 28% in the fourth quarter from a year earlier.

The Federal Deposit Insurance Corp. is targeting directors and executives of another failed bank, but this time the agency has a guilty plea to back its claims of mismanagement.

The face value of business-to-business accounts placed in collections totaled $3.6 billion in the fourth quarter ended Dec. 31, up nearly 3.4% from $3.5 billion in the third quarter, according to the Commercial Collection Agency Association, which tracks accounts placed with its members. The total face value increase was an estimated $119.3 million.

BankUnited Inc. unveiled estimated terms for an increased initial public offering, with current holders behind the bulk of the equity sale.

IMGCAP(1)]

Losses are shrinking at Mercantile Bank Corp. in Grand Rapids, Mich. The $1.6 billion-asset company reported Tuesday that it narrowed its fourth-quarter loss by 85% from a year earlier, to $5.3 million.

Suffolk Bancorp in Riverhead, N.Y., on Tuesday reported lower quarterly earnings as credit costs stayed high. The $1.62 billion-asset company's said fourth-quarter earnings fell 22.2% from a year earlier, to $4 million, or 41 cents a share.

Intervest Bancshares Corp. in New York on Tuesday posted a narrow fourth-quarter profit, reversing a recent trend of losses.

Naugatuck Valley Financial Corp. in Naugatuck, Conn., is again planning a second-step conversion. Naugatuck Valley said late Friday that it would sell the 60% of itself currently held by its mutual holding company in an offering in the second quarter.

North American Financial Holdings Inc. is one step closer to having its flagship bank. The bank holding company, which is backed by $900 million of equity from various investors, received approval Friday from the Federal Reserve to buy an 85% ownership stake in Capital Bank Corp. of Raleigh, N.C.

Comerica's agreement to buy Sterling Bancshares apparently scuttles an activist shareholder's plans to take over the target bank, but it doesn't mean he's on the losing end.

Treating all loans alike unnecessarily harms small businesses. Most are innocent bystanders, but high administrative expenses keep their loans from generating strong returns.

The Treasury Department said Friday that it plans to auction warrants in Citigroup Inc., Boston Private Financial Holdings and Wintrust Financial Corp., disposing of its remaining holdings in the companies.

Cardinal Financial Corp. in McLean, Va., said Friday that it probably incurred a goodwill impairment charge of $2.6 million in the fourth quarter.