Sonoma Valley Bancorp has been required to restate its third-quarter results after a recent regulatory exam.

Small banks face myriad and often frustrating obstacles to acquiring failed banks. But some smart strategies have separated the successful bidders from the rest, including raising excess capital well before a bid, targeting fewer and smaller banks, tracking enforcement actions of potential failures and bringing in well-seasoned management to see a deal through.

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The parent company of American Federal Savings Bank in Helena, Mont., has gotten regulatory approval to complete the second step of its conversion to a stock company.

Editor's Note: This is an updated version of a column published by Collections & Credit Risk last month.

Promontory Interfinancial Network, already known for providing coverage through its certificate of deposit network, is set to announce today that it plans a May launch for a product to protect a customer's liquid funds.

WASHINGTON — Four failures late Friday cost the government an additional $1 billion.Among the closings, which brought the year's total to 20, was that of $3.6 billion-asset La Jolla Bank in La Jolla, Calif. The Federal Deposit Insurance Corp. sold La Jolla's operations to OneWest Bank in Pasadena in the second recent deal for the buyers of the failed IndyMac Bank.

WASHINGTON — Four failures late Friday cost the government an additional $1 billion.Among the closings, which brought the year's total to 20, was that of $3.6 billion-asset La Jolla Bank in La Jolla, Calif. The Federal Deposit Insurance Corp. sold La Jolla's operations to OneWest Bank in Pasadena in the second recent deal for the buyers of the failed IndyMac Bank.

Flush with capital and newly liberated from the Treasury's Tarp restrictions, Umpqua Holdings Corp. is embarking on a consolidation quest in the Pacific Northwest.

New Century Bank, Jay S. Sidhu's most recent endeavor, has increased its capital by 180% as it seeks to embark on a major growth spurt.

The Office of Thrift Supervision has issued a prompt corrective action against La Jolla Bank FSB of Rancho Santa Fe, Calif., ordering the thrift to merge with another institution or sell off nearly all of its assets and liabilities to become at least "adequately capitalized."

Minnesota Attorney General Lori Swanson filed lawsuits Thursday against six debt settlement companies, alleging they violated a state law passed last August that requires them to be licensed in Minnesota and cap the fees they can charge. The law generally caps the origination fee paid by the consumer at between $200 and $500. Monthly fees are capped at between $50 and $75.

A Georgia man believed responsible for a debt relief scheme that defrauded consumers out of more than $25 million was arrested yesterday by federal agents.

The Federal Reserve has ordered Marco Community Bank in Marco Island, Fla., to take steps to raise its capital levels.

West Virginia Attorney General Darrell McGraw's office announced today it has reached settlements with two collection agencies, Allied Interstate of Minneapolis and Jefferson Capital Systems of St. Cloud, Minn., and one debt buyer, Wilhelm, West, Kacey & Associates (WWKA), of Canton, Ga. - all of which were being investigated for wrongful collection practices. The companies agreed to pay restitution and cancel debts totaling $404,091 to 446 West Virginia residents.

First National Community Bancorp Inc. of Dunmore, Pa., reported a loss of $11.3 million for 2009, citing a more than tenfold increase in its provision for credit losses.

Cecilian Bank in Cecilia, Ky., has agreed to purchase two branches and a pool of commercial loans from the struggling Integra Bank of Evansville, Ind., the companies announced Wednesday.

Weeks after raising $303.6 million, Umpqua Holdings Corp. in Portland, Ore., announced late Wednesday that it had repurchased securities issued to the Treasury Department under the Troubled Asset Relief Program.

A thrift has found a resourceful way to raise some badly needed capital, one that institutions across the country could replicate: unwinding its employee stock ownership plan.

While many financial advisers continue to seek either the comforts of a megafirm or the independence of a registered investment advisory group, Adam Sherman, David Fleisher and their team have found a cozy home in the community banking channel.