In a bid to get its bank unit adequately capitalized, Horizon Bancorp. Inc. in Bradenton, Fla., is trying to raise $5 million in a private placement of convertible preferred stock.

NEW ENGLAND

A new group formed to buy failing banks plans to use its recent deal for tiny, well-capitalized Palisades National Bank as a springboard for further acquisitions.

CFS Bancorp in Munster, Ind., is exploring its strategic options, including the possibility of selling itself.

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SVB Financial Group in Santa Clara, Calif., says it plans to raise $300 million in a sale of common stock and use most of the proceeds to repay all of its government-issued capital.

In what would be the biggest purchase of bank branches by a credit union, Royal Credit Union said it had agreed to buy 11 offices from the troubled Anchor BanCorp.

A growing number of smaller banks are looking to finance transactions in a market long dominated by giants like Bank of America and Wells Fargo.

Royal Credit Union announced this morning it has agreed to acquire 11 branches in northwestern Wisconsin from troubled AnchorBank.

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The $186 million-asset Wooster company, which warned this spring that it might fail, announced Monday that it has agreed to sell a majority stake to Excel Financial LLC of St. Clairsville, Ohio, for $15 million.

If you don't like the rules, change them. That's what one blank-check company did when a looming deadline threatened its plans to buy a Nevada bank.

Pentagon Federal Credit Union has agreed to become the first credit union to issue American Express cards to its members.

VERNON HILLS, Ill. — Branch-related expenses are under scrutiny at Baxter Credit Union, but in the process it keeps its eye on something else: member service and satisfaction.

SUITLAND, Md. – Andrews FCU said it has opened a new branch located in nearby Mt. Laurel, N.J.

ALAMAGORDO, N.M. – Otero FCU is planning to build new offices, a two-story building that will provide the $210 million credit union with 22,000 square-feet of space.

Two failures in Florida, including the collapse of Naples-based Orion Bank, and another in California late Friday brought the year's total to 123.

In a move that should help stressed banks avoid public relations fiascoes, the Federal Deposit Insurance Corp. has toned down the harsh wording of orders it issues to such institutions.

Sun National Bank's wealth management business is off to a slow start thanks to the recession, but executives at the Vineland, N.J., bank say they remain committed to the business.

MECHANICSBURG, Pa. – Fast-growing Members 1st FCU said it plans to build two more branches, making a total of 40 outlets for the $1.7 billion credit union.