First Busey Corp. in Champaign, Ill., has announced plans to raise almost $86 million in capital by selling common stock and preferred shares.

Several banks rushed to repay investments under the Troubled Asset Relief Program in December, but hundreds head into the new year desperate for an exit strategy, even if it means selling.

Baylake Corp. in Sturgeon Bay, Wis., said Thursday that it had entered into a written agreement with the Federal Reserve requiring it to build capital, improve earnings and reduce nonperforming assets.

Royal Bancshares of Pennsylvania Inc. said Thursday that it has finally sold Royal Asian Bank.

The Treasury Department announced six financial firms repaid funds they received in the government's Wall Street bailout, delivering $626 million to taxpayers.

IMGCAP(1)]

The $4.2 billion-asset company plans to ask its shareholders, who have seen their stock drop 78% in value in the past year, to increase the number of authorized shares to 1.5 billion from 50 million at a meeting in late January.

The $709.2 million-asset company said last week that James Miller would retire on Feb. 4 and that it would launch a search to find his successor. Miller has been with Princeton National since 1979.

The $1.9 billion-asset company said in a Monday press release that Richard Northern, a corporate lawyer in the Louisville office of Wyatt, Tarrant & Combs, will join the board on Jan. 18.

Another banking company plans to exit the Troubled Asset Relief Program after 1st Source Corp. of South Bend, Ind., said it received approval to repurchase preferred shares it issued two years ago.

BankEast in Knoxville, Tenn., has received a prompt corrective action directive from the Federal Reserve due to its undercapitalized status.

Member satisfaction with credit unions has taken a slight dip in a new poll. A study conducted by the American Customer Satisfaction Index found that credit unions "are now beginning to feel pressure to increase performance."

Cascade Bancorp in Bend, Ore., said Monday that shareholders overwhelmingly approved a plan to sell common stock to a group of outside investors.

Bank acquisition activity is widely expected to pick up in 2011, but some parts of the country might be more active than others.

Modern Bank, a lender to the affluent where former football quarterback Joe Montana is vice chairman, hired former Citigroup banker Damian Kozlowski to lead a turnaround.

The Federal Trade Commission is taking legal action against a massive Internet enterprise that allegedly has made millions of dollars by luring consumers into "trial" memberships for government-grant and money-making schemes, then charging various fees to their credit and debit card numbers.

Capitol Bancorp Ltd. has outlined a strategy, including a shareholder rights offering and a potential reverse stock split, that it hopes will enhance its common equity and regulatory capital.

Last decade's acquisitions made midsize banks an endangered species. Today's acquisitions are repopulating the category, and Tower Bancorp is a case in point.

Last decade's acquisitions made midsize banks an endangered species. Today's acquisitions are repopulating the category, and Tower Bancorp is a case in point.

The Treasury Department announced that six financial firms repaid funds they had received in the government's Wall Street bailout, delivering about $2.7 billion to taxpayers.