Capitol Bancorp Ltd. in Lansing, Mich., plans to open a bank in Pittsburgh, which would be only the fourth start-up for that region in 40 years, according to the Pittsburgh Business Times.

Valley National Bancorp of Wayne, N.J., said late Wednesday that the fair market value of its Fannie Mae and Freddie Mac preferred stock declined by $40 million from June 30 to Sept. 2.

The community banks that use legacy systems for core technology applications are in for some challenging times.

Bank of Internet USA has never hidden its contrarian streak.

The Office of Thrift Supervision has notified BankUnited Financial Corp. that its regulatory capital status was changed from "well capitalized" to "adequately capitalized."

LEWISBURG, Penn. – Town officials this week approved a plan by M-C FCU to redevelop part of the former La-Z-Boy furniture factory and showroom into a branch.

NORTH MEDFORD, Ore. – Rogue FCU yesterday broke ground on a new 14,000-square-foot service center that will house its mortgage and business loan officers, as well as investment and insurance representatives.

First Merchants Corp. of Muncie, Ind., said Wednesday that it is acquiring the $890 million-asset Lincoln Bancorp of Plainfield to fill out its Indianapolis operations.

Jeanne Delaney Hubbard has resigned as chairwoman, president, and chief executive officer of Abigail Adams National Bancorp Inc. in Washington.

Mercantile Commercial Capital LLC of Florida, which specializes in Small Business Administration 504 loans, often touts the fact that it is not a bank. But eager for cheap deposits to fund its growth, the privately held lender is applying to become one.

MIDWEST

FAIRFAX, Va. – A story in yesterday’s Credit Union Journal Daily Briefing incorrectly stated the date for a grand opening for Apple FCU’s newest branch. It is Saturday, Sept. 6.

YORK, Penn. – First Capital FCU is building a “green” branch here that will include such environmental initiatives as reserved parking for fuel efficient vehicles, a rain water capture toilet system, and LED light fixtures.

Two weeks after being forced to relinquish his chairmanship, Robert J. Weatherbie has resigned as the chief executive officer of Team Financial Inc. in Paola, Kan.

Signature Bank in New York said Tuesday that it intends to sell 3.5 million shares of its common stock to the public that, at its current share price, could raise more than $100 million.

First National Bank of Greencastle in Pennsylvania has agreed to monitor its lending more closely under a memorandum of understanding with the Office of the Comptroller of the Currency.

Many banks targeting African-Americans have struggled with attracting enough deposits within their communities, but a grassroots organization is trying to offset that trend by urging people to deposit funds in such institutions — even if they live thousands of miles away.

FAIRFAX, Va. – Apple FCU, which serves the area’s education community, will open a new branch in nearby Vienna Thursday, the second of four new facilities planned for this year.

ANDERSON, Ind. – Independent FCU yesterday said it has signed with LEVEL5 design and build its new main office and combined retail branch.

United Community Banks Inc. in Blairsville, Ga., said it secured a $30 million loan to boost its capital position.