A new ad from the U.S. unit of Toronto-Dominion Bank that features a same-sex couple is more than a social statement, as it also says a lot about the fragmentation, context and consumer control that are part of modern TV viewing habits, according to the company's top marketing executive.

Pinnacle Financial Partners in Nashville, Tenn., plans to raise $60 million in subordinated debt in a private placement.

First Financial Bancorp in Cincinnati has agreed to buy Oak Street Holdings, a provider of commercial financing to the insurance industry.

"Stay tuned" for the Houston bank's first deal since April 2014, CEO David Zalman tells investors.

The bankruptcy of Wingspan Portfolio Advisors epitomizes the existential crisis facing default servicing. This once-thriving sector of the mortgage industry now finds itself declining in lockstep with the drop in loan delinquencies and foreclosures.

Cornerstone Bank in York, Neb., has agreed to acquire Guide Rock State Bank in Nebraska.

The Ohio company has been giving customers longer grace periods to address overdraft charges. While it has seen service charges decline, the company has been adding customers and checking accounts.

City National Bank in Los Angeles said Thursday that its second-quarter profit rose 5% from the same period last year, driven by heavier demand for commercial loans.

The Senate Appropriations Committee approved a bill designed to fund certain government agencies, but which also included a bill by Sen. Richard Shelby, R-Ala, to provide regulatory relief for community banks.

The $1.7 billion-asset First State expects its deal for $264 million-asset Central to close before the end of the year.

HCBF Holding Co. in Fort Pierce, Fla., has agreed to buy OGS Investments in Gainesville, Fla.

A fifth of the financial institutions that participated in the Small Business Lending Fund have fully left the program and an increasing number of banks are joining them before the dividend rate jumps to 9% next year.

HomeTrust Bancshares in Asheville, N.C., will close six branches in North Carolina and Tennessee.

New York Community Bancorp in Westbury reported a modest increase in quarterly profit that included asset sales.

HSBC is promoting Gregory Pierce to head of global banking and markets for North and South America. He starts Sept. 1 and will be based in New York.

Regulators gave conditional approval for CIT Group's deal to buy OneWest Bank, paving the way for an institution that would be deemed systemically important, with $70 billion in combined assets.

A spike in core deposits increased funding costs and contributed to margin compression at Synovus in the second quarter. But the company could benefit from locking in liquidity now, particularly when interest rates rise.

Fifth Third Bancorp in Cincinnati reported a decline in second-quarter profit, as the costs to close branches offset loan growth.

Zions Bancorp. in Salt Lake City reported a second-quarter loss after selling the remainder of its portfolio of collateralized debt obligations.

A breakdown of M&A announcements in the financial services industry for the week ended July 18.