Two banks failed on Friday, with the Federal Deposit Insurance Corp. only finding a buyer for one of the fallen institutions.

Schaller Equity Partners discloses plans to nominate five directors, escalating a nearly yearlong battle with the small Floyd, Va., banking company.

The Federal Deposit Insurance Corp. issued prompt corrective actions against five banks in January, telling them to either raise capital or be acquired by another institution.

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Citizens Financial Group Inc. in Providence, R.I., posted strong earnings growth in the fourth quarter, but not nearly strong enough to offset losses at its parent company, Royal Bank of Scotland.

Citigroup disclosed Friday that the value of its share of the retail-brokerage joint venture with Morgan Stanley — Morgan Stanley Smith Barney — might be impaired.

Demand is outpacing supply in the leveraged loan market, which means issuers are obtaining less costly credit at the expense of investors in the loans. However, the tide is poised to turn, perhaps in the second half of the year.

Atlantic Coast Financial Corp. in Jacksonville, Fla., reported a loss of $4 million in the fourth quarter, compared with a loss of $5.2 million a year earlier, as its expenses and loan-loss provision declined.

Citigroup Inc. Friday sold its entire stake in Indian mortgage lender Housing Development Finance Corp. for $1.9 billion that will likely help the U.S. banking giant improve its capital to meet strict international rules.

Strong fourth-quarter earnings for French terminal maker Ingenico signal good news for the payments industry, and likely for Europe's economy overall.

The sovereign debt crisis affects all of us, whether we're managing risk at a trillion-dollar bank in North America or at Main Street Bank in Small Town, USA. Even if we don't have customers overseas, our customers at home may be affected either directly or indirectly by events on the other side of the Atlantic.

With few banks over $1 billion of assets willing to sell, larger buyers resort to picking off clusters of smaller banks. Pressure to grow outweighs the added costs, executives say.

Reading "Capital One Is Nearly Unscathed in Deal Victory" reminded me of watching ING Direct CEO Arkadi Kuhlmann address a major banking conference several years ago. He presented a detailed description of his unconventional approach to consumer banking and explained how each facet contributed to the success of the initiative.

Bank deal activity eventually has to increase, but predicting the exact timing of consolidation remains hard, says Thomas Michaud, the investment bank's chief.

Citigroup signaled Thursday that it plans to sell its almost 10% stake in Housing Development Finance Corp., a major Indian lender, in a move that could raise $2.1 billion for the New York banking giant.

CEO Douglas Glenn has won the patient support of Carlyle Group and other private-equity investors in the Virginia bank, and cleared the path for an important stock offering.

Ames National Corp. in Iowa has agreed to acquire two branches in the north central region of the state from Liberty Bank.

In a wide-ranging interview, Discover CEO David Nelms expressed reservations about the prepaid industry, vowed to defend Discover's cash-back rewards program at all costs, and said he doesn't plan to go recruiting in Silicon Valley anytime soon.

The parent company of United Legacy Bank in Winter Park, Fla., is buying a large stake in a rival bank in what appears to be the first step toward building a multi-bank holding company.

People's United Financial Inc. in Bridgeport, Conn., is moving to streamline its operations after making five acquisitions in less than three years.