Though much of the nation's financial press focuses on the economic fallout from troubled subprime mortgages, very positive developments have occurred in the loan market for lower-income workers and consumers — small-dollar consumer loans.

The mortgage crisis loomed large in most of the country’s statehouses, but it was not the only banking issue legislatures tackled this year.

When state legislatures convene for their 2008 sessions in January they are expected to get right down to business trying to find legislative measures to stave off waves of home foreclosures in their markets.

To the Editor:

Now that its long search for a president and chief executive officer is complete, Sun Bancorp Inc. in Vineland, N.J., says it could start buying banks again.

Atlantic Coast Federal Corp. in Waycross, Ga., announced after the stock market closed Wednesday that it cancelled its stock offering due to weak demand for its shares.

Sun Bancorp Inc. in Vineland, N.J., has chosen its next president and chief executive officer, ending an 11-month search.

It is often said that community banks need to have at least $1 billion of assets to compete effectively for commercial business, and with its deal to buy a hometown rival, the nine-year-old Eagle Bancorp Inc. in Bethesda, Md., would surpass that threshold.

Continuing with its ambitious expansion, Navy Federal Credit Union in Merrifield, Va., has opened its first branch in Virginia's capital city.

The last remaining banking companies in Shreveport, La., announced Wednesday that they are teaming up to create a single banking company with about $250 million of assets.

SOUTHEAST

For a small, niche bank, United Central Bank in Garland, Tex., has big plans.

Summit Financial Group Inc. in Moorefield, W.Va., has terminated negotiations to acquire an Alabama thrift company and extended the deadline on a deal to acquire a Virginia banking company.

Calculating loan-loss reserves is getting more dicey.

First Financial Bancorp in Hamilton, Ohio, is moving its corporate headquarters to Cincinnati.

Virginia Financial Group Inc. of Culpeper and FNB Corp. of Christiansburg say they have pushed back the closing date for their deal until early next year, because they figure shareholders have other things to do this holiday season than read proxy materials.

Two start-ups, one in California and one in Tennessee, announced Thursday that they have raised record amounts of capital for new banks in their states.

When my banker friends lament their teams' cross-selling struggles, I often suggest that what they are doing really isn't cross-selling at all. What I most frequently observe would best be described as selling.

The Credit Union Journal