Capitol Bancorp Ltd., which owns majority stakes in more than 50 small banks in 14 states, announced Tuesday the opening of its newest one, in Palm Desert, Calif.

Capitol Bancorp Ltd. of Lansing, Mich., named Gregory R. Bixby to succeed David J. Dutton as chief information officer, after Mr. Dutton announced he will retire March 31.

IronStone Bank in Fort Myers, Fla., said Monday that it plans to enter Kansas, Missouri, and Oklahoma and expand in Texas.

OceanFirst Financial Corp. in Toms River, N.J., announced Monday that it would restate earnings for the 12 months that ended Dec. 31.

A mutual savings bank in La Porte, Ind., is doing an initial public offering so it can buy another bank — an unusual transaction that analysts said they expect to see happen more often.

BCSB Bankcorp Inc. in Baltimore said Friday that a recent payment by its insurance provider has helped it recoup some losses from an alleged check-kiting scheme.

The only black-owned bank in Texas has ambitions of becoming the nation's largest, but it will not be easy for the $51 million-asset Unity National Bank of Houston.

Standard & Poor's Corp. said this week that it plans to add United Community Banks Inc. in Blairsville, Ga., to the S&P SmallCap 600 index.

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Cooperative Bankshares Inc. in Wilmington, N.C., said Wednesday it has a deal to buy the $15 million-asset Bank of Jefferson in South Carolina.

Franklin Templeton Investments, one of the country's largest mutual fund families, has acquired an 8.11% stake in a small Florida banking company that has been rocked by troubles in its lending portfolio.

House Small Business Committee Chairwoman Nydia M. Velazquez proposed legislation that would let banks and other Small Business Administration lenders originate and process loans made under the SBA's disaster loan program.

Center Bancorp Inc. of Union, N.J., said Wednesday that it plans to cut 10% of its staff and that it expects the move to save it more than $1 million a year in salary and benefits costs.

New England

Taylor Capital Group Inc. of Rosemont, Ill., has revised its 2006 earnings report to reflect significantly higher levels of nonperforming loans than it first reported.

Premier Commercial Bancorp in Anaheim has announced a deal to sell its majority stake in Premier Commercial Bank Arizona to the Mesa bank’s management team.

What started out as just another merger announcement between two small mutual thrifts has erupted into a rather unusual bidding war in Massachusetts.

For James "Jim" Ghiglieri Jr., who this week will become chairman of the Independent Community Bankers of America, banking is more than a career — it's a family tradition.

It is getting to be a familiar refrain: A small bank builds a name for itself in its hometown, only to have a bigger, out-of-state bank with a similar moniker move in, setting the stage for a battle over the rights to the name.

CHICAGO — Investor conferences are generally upbeat affairs, but the mood at the Midwest Super Community Bank Conference here last week could be best described as subdued.