Huntsman Gay, a private equity firm, announced today that it has purchased a majority stake in iQor, a New York-based accounts receivable management company. iQor has more than 21 locations worldwide and 11,000 employees. The firm reported more than $345 million in revenues in 2009. Terms of the deal were not disclosed.

A lack of bank failures in Texas, New Mexico, Colorado and Oklahoma has Carlile Bancshares in Fort Worth starting to deploy its $328M in capital on banks that are still open but struggling.

Charter Financial Corp. in West Point, Ga., has completed the sale of $34.2 million of common stock. The $1.1 billion-asset Charter sold 4.4 million shares of common stock for $7.78 a share, for net proceeds of $30.6 million. The news was announced Wednesday.

The Federal Reserve has ordered First Heritage Corp. in Carthage, Miss., to step up its role as a source of strength for its bank unit.

K-Fed Bancorp in Covina, Calif., has received conditional approval from the Office of Thrift Supervision to commence its second-step conversion from a mutual to a stock company.

After raising capital from its directors, Security Federal Corp. in Aiken, S.C., said it has received approval from the Treasury Department to participate in a capital program designed for community development banks.

Speaking with American Banker, First Niagara CEO John Koelmel offered a conservative outlook on the M&A market, his thoughts on prudent growth and a critique of financial reform.

Though the future looks bright, it would be a disservice to credit union members and the American public to minimize the industry's missteps or to fail to explain what we are doing to correct them.

House Financial Services Committee Democratic leaders introduced a bill Wednesday to expand the Community Reinvestment Act and impose stricter standards on banks.

Fulton Financial Corp. in Lancaster, Pa., said Tuesday that two of its banking subsidiaries have agreed to merge, creating a $9 billion-asset bank operating in three Northeast states.

Mission Oaks Bancorp Inc. in Temecula, Calif., restated its second-quarter earnings, resulting in a wider loss stemming from impaired loans.

Porter Bancorp Inc. in Louisville, Ky., said that an institutional investor had purchased another $745,016 of stock, completing its $5 million investment in the company.

In the months leading up to its deal with First Niagara Financial Group, NewAlliance Bancshares Inc. entertained an offer from another suitor, while continuing to woo a potential acquisition target.

Carlile Bancshares Inc. in Texas announced that it has raised $328 million of capital and been given approval by regulators to bid on larger failed banks.

Less than a month after completing a recapitalization, the $9.7B-asset company cleared another major hurdle Monday as regulators rescinded a year-old cease-and-desist order.

Sterling Financial Corp. in Spokane, Wash., said that regulators have lifted a cease-and-desist order under which it was operating just one month after the company completed a recapitalization.

Monarch Community Bancorp Inc. of Coldwater, Mich., said that it entered into a written agreement with the Federal Reserve Bank of Chicago on Sept. 21.

First Financial Northwest Inc. in Renton, Wash., said that its bank unit has entered into a formal agreement with its regulators.

CLARKSVILLE, Tenn. – Fort Campbell FCU and the Clarksville-Montgomery County School system opened two student-run branches at North East High School and Rossview High School.