The Financial Services Roundtable says a controversial proposal from the Financial Accounting Standards Board is bad not just for banks and investors, but for the FASB itself because it would clash with international rules.

If the best defense is a good offense, expect local community banks to take the fight to their newest Connecticut competitor, First Niagara Financial Group of Buffalo.

Community banks reported investment program income of $110.1 million for the period, an increase of 4.6% from the fourth quarter of 2009 and a 12.6% jump from the first quarter of 2009.

Two shareholders of NewAlliance Bancshares in New Haven filed class actions last week asking a judge to block the company's proposed sale to First Niagara Financial Group of Buffalo.

Central Pacific Financial Corp. of Honolulu has appointed its turnaround consultant as executive vice president and chief financial officer.

Commonwealth Business Bank in Los Angeles said its second-quarter loss improved slightly from a year earlier. The $367.3 million-asset company posted a loss of $538,000, compared with a loss of $562,000 in the second quarter of 2009.

Westamerica Bancorp of San Rafael, Calif., said its board approved the repurchase of nearly 7% of the company's outstanding common stock.

Bank of Southern California in San Diego has agreed to buy two branches from the struggling Palm Desert National Bank.

Selling prepaid cards might become less appealing to retailers if a recent proposal aimed at curbing money laundering takes effect.

Eight months after calling off a deal to buy Royal Asian Bank, Edward Shin, the bank's CEO, is back with a new deal, crediting perseverance and a grassroots approach.

Eight months after calling off a deal to buy Royal Asian Bank, Edward Shin, the bank's CEO, is back with a new deal, crediting perseverance and a grassroots approach.

The Federal Reserve said Thursday that it has restricted dividend payments by three banks, one of which got $2.4 million through the Treasury Department's Troubled Asset Relief Program.

FAIRHAVEN, Mass. – First Citizens’ FCU is expanding into Cape Cod with a new branch in the town of Mattapoisett and another branch is planned at an undetermined location on the Cape.

BankAtlantic Bancorp Inc. in Fort Lauderdale, Fla., has given up its attempt to cash out its bondholders at a discount.

Sterling Financial Corp. in Spokane said Thursday it has completed a $730 million capital raise, including an expansion of its investments from two firms leading the recapitalization.

Shareholders of Patriot National Bancorp Inc. in Stamford, Conn., have approved a deal to recapitalize the company.

The refusal to foreclose quickly on and sell distressed homes at inventory-clearing prices may be contributing to the stall of the overall market seen in July sales data.

About 32%, or 47, of the 146 banks that acquired a failed bank from Jan. 1, 2009, through Aug. 19 of this year have recorded a net bargain-purchase gain from the failed bank's assets.

MIDDLE ATLANTIC

New Century Bank in Phoenixville, Pa., the institution Sidhu has been expanding during the past year, announced that it would buy Berkshire Bank, based in Wyomissing, Sovereign Bank's former headquarters city.