The $129.5 million-asset company said in a Wednesday press release that Sandra H. Stephens, who has been the CEO at SouthFirst and its bank for five years, will resign Jan. 2 to "spend more time with her family."

Once-secret documents released by the Federal Reserve Board Wednesday revealed that U.S. Central was a major beneficiary of the Fed's emergency Term Auction Facility, just as the corporate credit union giant was teetering.

The failures of banks in Southern California have left a fragmented market that is fertile ground for growth, says Gregory A. Mitchell, the president and CEO of First PacTrust.

Re: "FHLB System's Rationale Erodes as Advances Dwindle" Nov. 29. This article and the online survey on the relevance of the Federal Home Loan banks did not tell the whole story.

The reality is that, if more institutions had been required to comply with CRA, bad loans probably would not have been made because CRA-reporting institutions are highly regulated.

Foreclosure homes accounted for 25% of all residential sales in the third quarter ended Sept. 30 and the average sales price of properties sold in some stage of foreclosure was more than 32% below the average sales price of properties not in the foreclosure process.

Hanmi Financial Corp. in Los Angeles has amended an agreement with Woori Finance Holdings Co. Ltd. for the second time as the companies' capitalization plan continues to face regulatory delays.

Nasdaq is giving a number of struggling companies a little more breathing room, making it easier for stocks to stay on the exchange even after falling short of listing requirements.

Heritage Financial Group Inc. in Albany, Ga., said Tuesday that it has finished its second-step conversion and is now a stock holding company.

Ameris Bancorp in Moultrie, Ga., an active buyer of failed competitors, on Tuesday appointed a president for its bank.

Heartland Financial USA Inc. in Dubuque, Iowa, has picked up a team of mortgage bankers that had worked at a failed Arizona thrift.

Lawyers for the National Credit Union Administration met Tuesday to discuss whether a federal pay freeze proposed by President Obama would apply to raises eyed for agency employees.

The total number of consumer statute lawsuits filed in the Nov. 1-15 period soared to 558, up from 503 in the previous two-week period and 497 in the first half of October, according to data from U.S. District Courts.

SAN ANTONIO, Texas – United SA FCU and the University of the Incarnate Word will open a student-run branch location on campus today.

ROCHESTER, N.Y. – ESL FCU has opened its first branch in Genesee County, with its first branch in Livingston County scheduled to open next month.

RADCLIFF, Ky. – Navy FCU opened a full-service branch here to serve employees at Fort Knox, one of two new branches launched yesterday.

SALT LAKE CITY – Utah Power CU will open its new home offices and branch tomorrow in nearby Murray.

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The $1.9 billion-asset company said in a Nov. 24 regulatory filing that David Wesel is resigning his post at Peoples Bank, effective Dec. 10.

Oriental Financial Group Inc. in San Juan, Puerto Rico, has joined a handful of banking companies by raising its quarterly dividend.