The main culprit in last week's demise of Independent Bankers' Bank in Springfield, Ill., was not an ailing loan portfolio but poorly performing investments in other banks.

While banks and government agencies are increasing efforts to save troubled home loans, the attempts thus far have not slowed a rise in foreclosures, according to a report released this week by the Offices of Thrift Supervision (OTS) and Comptroller of the Currency (OCC).

President Obama is due to meet today with 11 chief executives of community banks, following up on a meeting with the heads of larger institutions last week.

IMGCAP(1)]

Shares of Amcore Financial in Rockford, Ill., rose Monday on roughly four times their average volume, extending a rally that began after the banking company amended a credit facility.

City National Corp. in Los Angeles expanded its asset size by roughly 5% last weekend in its largest deal to date by acquiring the failed Imperial Capital Bank in La Jolla, Calif.

Patriot National Bancorp Inc., in recently sizing up two suitors, ultimately chose a creative option that will reward shareholders based on future results rather than a rival deal providing a higher up-front share price.

The Education Department has released new data on the percentage of students at more than 5,000 colleges and universities who defaulted on student loans over a three-year period.

SEATTLE-The $8.7-million Express Credit CU made a radical change earlier this year in an effort to survive, and so far the move is paying off, according to its CEO.

Banner Corp. in Walla Walla, Wash., terminated a common stock offering Friday, citing "current market conditions."

WICHITA, Kan. – Fast-growing Credit Union of America announced last week it plans to open another new branch, its 11th, in the downtown next year.

Seven failed banks holding a combined $14 billion in assets failed Friday in what was yet another busy night for the Federal Deposit Insurance Corp.

The benefits of custom scoring models are becoming more obvious and the cost has plummeted, but little attention is being paid to developing better ways for risk managers to implement them.

IMGCAP(1)]

OceanFirst Financial Corp. in Toms River, N.J., is nixing its plan to buy the $578 million-asset Central Jersey Bancorp because of a delay in getting regulatory approval.

MIDDLE ATLANTIC

The selling spree at Capitol Bancorp continues. The company announced Thursday that it has a definitive agreement to sell Mountain View Bank of Commerce in Colorado ...

LAKE JACKSON, Texas – Texas Dow Employees CU, on the heels of six new branches, is planning at least five additional outlets in the coming months.

More than 276,000 federal employees and retirees owed a total of $3.04 billion in back income taxes as of Sept. 30, 2008, according to new data provided by the Internal Revenue Service. The figure was up from $2.7 billion owed by federal employees and retirees in 2007.

Bad-debt buyer Asta Funding Inc. this week reported a net loss of $79.2 million for its fiscal fourth quarter ended Sept. 30.