First BanCorp said Wednesday that it plans to sell nearly $702 million in loans to a new joint venture in order to reduce its high-risk exposure to Puerto Rico's crippled economy.

For the investors, the end-of-year sales would represent a tax strategy; accepting losses from underperforming bank stocks could offset gains made in other sectors of the economy.

Even though economic recovery still has a long way to go, we have all heard enough of the bleak forecasts and are ready for some positive news.

The $12.6 billion-asset company said on Monday that it had hired Thomas Doherty to lead business banking and promoted Richard Bechtel to oversee mortgage banking.

North Valley Bancorp in Redding, Calif., is planning a 1-for-5 reverse stock split to remain in compliance with Nasdaq listing policy.

Shareholders of Comm Bancorp Inc. have approved the Clarks Summit, Pa., company's sale to F.N.B. Corp. in Hermitage, Pa.

WSFS Financial Corp. in Wilmington, Del., has announced its purchase of a bank from National Penn Bancshares Inc. in Boyertown, Pa.

Wintrust Financial Corp. in Lake Forest, Ill., is raising capital to repay government funding.

An M&A situation playing out in Puerto Rico is shining a light not only on the banks involved, but also on the U.S. government's strategy for salvaging its endangered Tarp investments.

LAHAINA, Hawaii – West Maui Community FCU plans to build a two-story commercial building in Lahaina for its new offices.

The city of New Haven, Conn., is asking federal and state regulators to block the proposed $1.5 billion sale of NewAlliance Bancshares Inc. in New Haven to First Niagara Financial Group in Buffalo, N.Y., claiming the transaction would not meet the "needs or convenience" of the community.

So here's what we offer the bank CEO: the hardest work imaginable; an uncertain long-term future (even if you succeed, you may be out of a job, as happened recently at a bank in the Pacific Northwest, courtesy of new investors); potential personal and board liability for your actions, however long or brief your tenure. No guarantees — for anybody.

New Haven Mayor John DeStefano and senator-elect Richard Blumenthal, the state's attorney general, will hold a press conference this afternoon to denounce the deal.

A U.S. district court has approved a Federal Trade Commission settlement to shut down two groups of Florida-based telemarketers that allegedly flooded consumers with misleading pre-recorded robocalls falsely promising to reduce their credit card interest rates.

TransUnion predicts that both mortgage and credit card delinquencies will drop sharply again in 2011, after large declines already experienced in the second half of this year.

Wintrust Financial said it plans to sell at least 3.2 million shares of common stock and 4 million tangible equity units, news that sent the regional bank's shares lower.

Unless Congress acts before Jan. 1, more than 4,200 farmers who have used Farm Service Agency loans for more than 15 years will be unable to get loans with federal guarantees. This is significant since farmers often take out operating loans each year to fund purchases of fertilizer and other supplies.

PORTLAND, Ore. – Advantis CU reopened its flagship, 12,380-square-foot branch in Belmont yesterday after an extensive, $2.2 million upgrade in structure and technology.

Community Shores Bank Corp. in Muskegon, Mich., said Monday that it is voluntarily delisting from the Nasdaq. Community Shores said in a press release that it expected to file the delisting with the Securities and Exchange Commission on Dec. 16, when it also will cease trading its common stock on the Nasdaq.

Center Bancorp Inc. in Union, N.J., said late Friday that two directors had resigned and that it planned to appoint an investment manager to the board.