Shares of Macatawa Bank Corp. fell sharply Monday after the Holland, Mich., company restated its second-quarter earnings and said it would suspend its dividend payment to shareholders.

Battered by losses on its investments in Fannie Mae and Lehman Brothers, the Federal Agricultural Mortgage Corp. is facing a capital shortage that could force it to reduce its role in providing a secondary market for farm mortgages.

FRANKENMUTH, Mich. – Frankenmuth CU said it has agreed to build two new branches in Meijer stores.

EAST LANSING, Mich. – Michigan State University FCU celebrated the completion of its new 140,000 square-foot home offices last week.

The officers and directors of Virginia Commerce Bancorp Inc. have infused the Arlington company with $25 million in fresh capital, the first step in a larger capital-raising plan that its chief executive said would help it "withstand current pressures from increased credit costs" and "provide an additional cushion for unforeseen market challenges."

Well before federal regulators shut down Washington Mutual Bank on Thursday, deposits began surging at the $1.4 billion-asset Oritani Financial Corp. in Washington Township, N.J.

As a part of a continuing effort to shed expenses and strengthen its capital position, Omni Financial Services Inc. in Atlanta is selling its four North Carolina branches to Capital Bank Corp. in Raleigh.

Peoples Financial Corp. in Biloxi, Miss., said it expects to take hits totaling $3 million in the third quarter to reflect the declining the value of its investment in Freddie Mac preferred stock and bigger losses in its portfolio of loans to home builders.

The cash-strapped Vineyard National Bancorp in Corona, Calif., is under orders to stop paying dividends to shareholders without approval from its regulator, the Federal Reserve Bank of San Francisco.

Trying to get a better handle on the quality of loans and investments that banks and thrifts hold, federal regulators have proposed major modifications in call reports that would require institutions to submit more detailed data on a range of items, including residential construction loans and structured investment products.

Like most banking companies, First Midwest Bancorp Inc. in Itasca, Ill., stopped doing business with check-cashing stores and other money-services firms a few years back because it feared running afoul of anti-money-laundering laws.

MIDWEST

Forced out as chairman Cape Fear Bank Corp. last month, Cameron Coburn has resigned as president and chief executive officer of the Wilmington, N.C., company.

First Niagara Financial Group Inc. in Lockport, N.Y., is looking to raise $100 million through an offering of its common stock.

Count Gateway Financial Holdings Inc. as another casualty in the government takeover of Fannie Mae and Freddie Mac.

Bank of Granite Corp.'s streak of consecutive quarterly dividends has ended at 219.

The Federal Reserve Bank of Kansas City has ordered Hastings Bancorp Inc. in Nebraska to suspend dividend payments to preserve its capital, and not take on any more debt.

Integra Bank Corp. in Evansville, Ind., has struck a deal to sell three small Kentucky branches to Peoples Exchange Bank, a unit of Genbeach Co. Inc. in Beattyville, Ky.

Though its plan to get a capital infusion from Jay S. Sidhu fell through, Federal Trust Corp. has a new lifeline.

When I became the chairman of the Federal Deposit Insurance Corp. in 1981, the FDIC's financial statement showed a balance at the Treasury of $11 billion. I decided it would be a real treat to see all of that money, so I placed a call to Treasury Secretary Don Regan: