Columbia Banking System in Tacoma, Wash., reported higher quarterly profits that featured lower costs.

Chemical Financial in Midland, Mich., reported a higher profit thanks to double-digit loan growth and credit-quality improvements.

United Financial Bancorp in Glastonbury, Conn., saw its profits surge in the first full quarter after merging with Rockville Financial.

Heartland Financial USA in Dubuque, Iowa, has agreed to buy Community Banc-Corp of Sheboygan in Wisconsin.

Flagstar Bank lost $27.6 million in the third quarter, driven by a Consumer Financial Protection Bureau penalty of $37.5 million, the Troy, Mich., lender said Wednesday.

Union First Market Bankshares in Richmond, Va., is seeing the benefits of its acquisition of StellarOne in Charlottesville, Va.

San Diego Private Bank has agreed to buy all the loans and deposits of First Security Business Bank in Orange, Calif.

New York banking regulator Benjamin Lawsky's latest crackdown on Ocwen Financial may undo Ocwen's deal to buy billions of dollars of mortgage-servicing rights from Wells Fargo, and it could complicate similar deals involving other banks and servicers.

First Midwest Bancorp in Itasca, Ill., reported a significant decline in quarterly earnings on costs tied to two acquisitions.

PacWest Bancorp in Los Angeles reported higher quarterly earnings, driven by asset gains from a recent acquisition.

F.N.B. Corp., in Hermitage, Pa., reported higher quarterly earnings that reflected several recent acquisitions.

New York Community Bancorp may have put the brakes on overall balance sheet growth, but its commercial and industrial lending operation in Boston is thriving.

Presidio Bank in San Francisco has raised $9.5 million through a private placement.

Hudson City Bancorp in Paramus, N.J., reported lower quarterly profit as its balance sheet continues to shrink.

Pacific Premier Bancorp in Irvine, Calif., has agreed to buy Independence Bank in Newport Beach, Calif.

First Horizon National in Memphis, Tenn., has agreed to buy TrustAtlantic Financial in Raleigh, N.C.

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

CNB Financial reported higher quarter earnings after buying FC Bancorp in Ohio. The $2.2 billion-asset company reported an 18% increase in third-quarter earnings from a year earlier, to $5.5 million.

The $2.9 billion-asset company's third-quarter earnings more than tripled from the second quarter, which included upfront merger-related expenses, and rose 72% from a year earlier, to $5.9 million.

The Mississippi company withdrew two merger applications in August after the FDIC targeted its Bank Secrecy Act compliance. Management says it has made significant progress and is looking forward to a follow-up exam early next year.