BancorpSouth has withdrawn applications for two planned acquisitions after the Tupelo, Miss., company drew regulatory scrutiny for its Bank Secrecy Act compliance.

Independent Bank Corp. has spent recent years looking for a way to break into Boston without overpaying. It recently found a steal in Peoples Federal, a former mutual, in a deal that boosts earnings and tangible book value.

The members of Monterey Credit Union have voted to convert from a CU charter to a mutual savings bank, the first step on the way to becoming a commercial savings bank.

CIT Group Inc., the business lender that last month agreed to buy OneWest Bank, has no plans to become a "serial acquirer," of financial firms, Chief Executive Officer John Thain said.

Independent Bank in Rockland, Mass., has agreed to buy Peoples Federal Bancshares in Brighton.

As consolidation picks up, buyers and sellers must examine their vendor contracts to make sure terms and pricing are in their favor.

On the West Coast, bankers are talking about starting new banks after a long period with scarcely any new charters, according to industry consultant and former California regulator Walter Mix. While in the aftermath of the crisis regulators seemed to have an unofficial moratorium on de novos, they now appear poised to evaluate applications on the merits, he says. Meanwhile, banks seeking approvals for mergers today can expect to be evaluated on a host of compliance matters, including unfair and deceptive acts and practices, Mix says.

Equity Bank in Wichita, Kan., has agreed to sell two Kansas City branches to TriCentury Bank in Simpson, Kan.

Peoples Bancorp in Marietta, Ohio, has agreed to buy NB&T Financial Group in Wilmington, Ohio.

Evercore, an investment bank that often advises others on M&A deals, plans two acquisitions of its own.

A breakdown of M&A announcements in the financial services industry for the week ended Aug. 2.

First Commerce Credit Union in Tallahassee, Fla., has agreed to buy First National Bank of Crestview in Florida.

NorthStar Bank once relied on its investment portfolio to drive revenue. It recently changed course, targeting loans and customers in search of a better future.

Carolina Alliance Bank in Spartanburg, S.C., has agreed to buy the operations of a local commercial leasing office.

MutualBank in Muncie, Ind., said it has closed the acquisition of Summit Mortgage, in Fort Wayne.

Bank of the Ozarks' deal to buy Intervest Bancshares looks a bit odd on paper because the two are very different and operation in different of parts of the country. However, Intervest would give Ozarks a commercial lending niche it lacks.

Huntington Bancshares in Columbus, Ohio, plans to lay off nearly 200 employees, as part of an internal reorganization.

Citigroup has agreed to sell a majority of its interest in a private-equity fund to Lexington Partners.

Liberty Bank in New Orleans reached agreement a year ago to acquire First Tuskegee Bank in Alabama. But the deal has remained in limbo ever since, and it shows that buyers and sellers can take little for granted in bank M&A.

Bank of the Ozarks in Little Rock, Ark., has agreed to buy Intervest Bancshares in New York for $228.5 million in stock.