Peapack-Gladstone Financial Corp. in New Jersey announced after the market closed Tuesday that it will likely take an other-than-temporary impairment charge for the fourth quarter on its portfolio of trust-preferred pooled securities.

Under orders from its regulator to increase capital by the end of next quarter, Seacoast National Bank in Stuart, Fla., is getting a boost from the Treasury Department.

With bad loans mounting, Freedom Bancshares Inc. in Commerce, Ga., has hired an investment banker to review its strategic options, and its bank has received a cease-and-desist order from the Georgia Department of Banking and Finance.

Mid Penn Bank in Millersburg, Pa., warned Monday that it expects to record two hefty fourth-quarter expenses: a $700,000 provision for loan losses and a $478,000 severance payment for its former chief executive officer.

Troubled or start-up banks that need a capital infusion should not bother calling Patriot Financial Partners LP in Philadelphia.

A Houston start-up bank is getting into the mortgage warehouse business, and some consultants are advising other community banks to consider doing the same.

For banks awaiting word on whether they are eligible for capital infusions from the Treasury Department, approval may hinge on whether they can raise money on their own first.

The Federal Reserve Board on Monday announced written agreements putting clamps on three community banks: Michigan Heritage Bank, Birthright Inc., and Cherokee Bancshares Inc.

Chemung Financial Corp. in Elmira, N.Y., aims to expand into Pennsylvania with a deal to for the $80 million-asset Canton Bancorp Inc.

A Chicago banking company that had been considering selling itself is off the block.

Investor demand for pooled trust-preferred securities may be dead, but the market for trust-preferreds issued by individual banks is making a comeback.

One of the main lessons learned from the current crisis is that not all investments, whether collateralized debt or mortgage obligations, are what they appear, despite claims and even ratings by a third party.

To the Editor:

Investor skepticism over whether Flagstar Bancorp Inc. will get capital from the Treasury Department has punished the Troy, Mich., company's stock to the point that it is in danger of being delisted.

Greater Atlantic Financial Corp.'s deal to sell itself to Summit Financial Group Inc. in Moorefield, W.Va., has fallen through — again — apparently done in this time by a steep drop in deposits.

SOUTHEAST

A New York private equity firm has agreed to invest $250 million in Flagstar Bancorp Inc., gaining 70% ownership of the Troy, Mich., thrift company. But the deal's completion hinges on Flagstar receiving an additional $250 million from the Treasury Department's Troubled Asset Relief Program.

Temecula Valley Bancorp Inc. in California said Wednesday that Frank Basirico Jr. has been promoted to chief executive officer and that chief operating officer Martin E. Plourd has added the title of president.

LAKELAND, Fla. – Community First CU is building a green branch that is designed to wrap around an existing Bruster’s Ice Cream Shoppe (which will remain open during construction), increasing the area’s development density while minimizing changes to infrastructure and local traffic.