Coastal Banking Co. of Beaufort, S.C., has entered into a formal agreement with regulators to reduce its risky assets.

Only three mutual thrifts have succeeded in going public so far this year, but the conversion market is starting to pick up, with two large deals on the way.

CLINTON, Md. – The U.S. Postal Service FCU is converting processing for its $22 million credit card portfolio to TNB Card Services.

LATHRUP VILLAGE, Mich. – Michigan First CU will open its first in-store branch today in the Meijer’s in nearby Fraser.

Guaranty Financial Group Inc. sought bankruptcy protection from creditors less than a week after collapsing in the 11th-biggest bank failure in U.S. history.

WASHINGTON — Three banks totaling $1.9 billion in assets failed late Friday, bringing the year's closure total to 84.

InBank of Oak Forest, Ill., went from well capitalized to insolvent in no time at all, and industry observers are pointing to the $209 million-asset bank as an extreme example of an aggressive regulatory approach to deteriorating credit quality.

Sierra Bancorp in Porterville, Calif., has lined up a $21.3 million capital infusion.

Pinnacle Bank of Rogers, Ark., and Central Bank of Little Rock have called off plans to merge.

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California credit unions had another increase in loan delinquencies during the second quarter, and more of them have been deemed troubled.

Preferred Bank in Los Angeles aimed to bring in $10 million with its recent stock offering, but demand exceeded its expectations.

LegacyTexas Group Inc. in Plano must get more aggressive in dealing with its loan trouble in order to satisfy regulators.

The $7.8 billion-asset company said Thursday that it had proposed two separate swaps — one for its $100 million of subordinated notes, the other for its $125 million of capital securities.

SAGINAW, Mich. – Communications Family CU has acquired a local landmark, the Civil War-era House of Oak, which it plans to replace with a new branch.

KANSAS CITY – CommunityAmerica CU is opening a branch in the local Wal-Mart Super Center, one of three new branches planned.

Plains Capital Corp. said in a filing with the Securities and Exchange Commission that it will use the funds to pay off its $92 million in funding under the Troubled Asset Relief Program, pay off another $20 million in debt and perhaps use the remainder to buy other banks or assets.

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Though it already has a fat tangible common equity ratio, PacWest Bancorp in San Diego is piling on even more capital with an eye toward buying failed institutions.

Virginia Business Bank in Richmond agreed to submit written plans to the Federal Reserve Board and the Virginia Bureau of Financial Institutions detailing how its board plans to enhance oversight of the bank while also retooling its operations.