COLUMBUS, Ohio-BMI FCU here has opened a new headquarters that seeks to take the intangible concept of member service and turn it into something visible.

ATLANTA-As upheaval in the financial markets is causing ever-greater consolidation among even the largest of banks, there are increasing opportunities for credit unions snap up former bank locations-but is that the right way to go?

ATLANTA-With former bank branches increasingly available for purchase, there are opportunities for smart buyers, according to Will Klein, senior consultant, and Rebecca Butler, consultant, with KDA.

ST. LOUIS-Beware the "albatross" when purchasing a branch from another institution, cautions Kevin Blair, CEO of NewGround here.

MILWAUKEE-The ongoing financial crisis is good news for credit unions, says Ralph La Macchia, president of La Macchia Group.

Citing a writedown of Freddie Mac preferred stock, Astoria Financial Corp. in Lake Success, N.Y., said late Wednesday that it swung to a third-quarter loss of $16.5 million, or 18 cents a share, from a profit of $35.3 million, or 39 cents a share, a year earlier.

The state of Illinois plans to inject an additional $1 billion of deposits in banks, thrifts and credit unions in hopes that they will use the funds to make more loans.

Shares of Amcore Financial Inc. fell 6.4% Thursday after the Rockford, Ill., reported its third consecutive quarterly loss.

News about the credit crisis just seems to go from bad to worse, with no end in sight.

Reeling from loan losses in its beleaguered home state, Capitol Bancorp Ltd. in Lansing, Mich., plans to cut overhead by combining several of its Michigan banks.

Westamerica Bancorp. in San Rafael, Calif., said Wednesday that it earned just $44,000 in the third quarter after taking an impairment charge of roughly $24 million on its investment in Fannie Mae and Freddie Mac preferred stock.

When Irwin Financial Corp. of Columbus, Ind., found itself in need of capital, it turned to a company it helped start nearly 90 years ago.

Provident Bankshares Corp. announced Wednesday that it is buying the deposits of Chevy Chase Bank's seven Baltimore-area supermarket branches.

MIDWEST

The Treasury Department's plan to buy stakes in small and regional banks is expected to attract strong interest from hobbled banks struggling to raise capital and perhaps healthy banks that could use the funds to acquire weaker competitors.

Shares of Southern Community Bancshares Inc. in Fayetteville, Ga., fell 20% Tuesday, to $2.40, after the $378 million-asset company said it is operating under a cease-and-desist order from the Federal Deposit Insurance Corp. and the Georgia Department of Banking and Finance.

First Interstate BancSystem Inc. in Billings, Mont., said it raised $11.8 million of capital in the third quarter.

For community banks considering near-term investments in technology projects, the financial crisis may represent an opportunity to do so at a reduced cost.