Debt buyer Portfolio Recovery Associates announced Wednesday it had modified its credit agreement and increased its lenders' domestic revolving credit commitments by $35.5 million, increasing its aggregate credit facility to $633 million.

Fannie Mae was able to extract an $11.6 billion mortgage-repurchase settlement from Bank of America (BAC) this year — its largest to date — because the bank needed Fannie's approval to sell billions of dollars in servicing rights.

The former chairman and chief executive of Summit Bank in Burlington, Wash., on Wednesday pleaded guilty to hiding millions of dollars in losses from past-due loans.

Despite better-than-expected returns so far, industry observers believe that the Treasury Department will take larger haircuts at is unloads less desirable stakes in banks.

A pair of prominent investors are pursuing opposing strategies in their bank investments: Warren Buffett is buying, while David Einhorn is cutting back.

With a wave of mergers and acquisitions inevitable, a new set of regulatory hurdles have evolved for large financial entities and community banks alike.

Now that Wells Fargo (WFC) has stopped selling unpaid consumer loans to outside buyers, its executive in charge of those deals has found another job.

FNBH desperately needs capital after regulators shot down a plan that had a hefty percentage of debt. The company is hoping an equity infusion by a big investor will help it get on track.

Delmar Bancorp is giving up a 40% stake in itself to an outside investor, who will cancel Tarp shares he won in a Treasury auction. The investor will also invest cash and forgive unpaid Tarp dividends.

Flock Specialty Finance announced that Alex Dunlap, former director of Debt Sales for Wells Fargo, has joined the company as senior vice president of Business Development.

First National Bank announced Tuesday that it's made a $300,000 investment in the Colorado Enterprise Fund's Early Stage Loan Pool.

Community Bankers Trust (ESXB) in Glen Allen, Va., has agreed to sell its Georgia operations to Community & Southern Holdings in Atlanta.

NCB Management Services Inc., a privately held debt buyer and collection agency, purchased an estimated $600 million of consumer debt direct from issuers and other debt buyers in the first six months of this year. The company started buying debt in 2006.

Brown & Joseph Ltd., a commercial credit and collection agency, has hired David Trout to serve as senior vice president of its insurance division.

Capital One says it will take its time in deciding the best way to bring apartment lender Beech Street Capital into the fold. Execs look to add the benefits of the originate-to-sell lender without messing up its winning formula.

F.N.B. Corp. (FNB) will cut 57 jobs at PVF Capital (PVFC) in October after it buys the Solon, Ohio, thrift company.

A breakdown of M&A announcements in the financial services industry for the week ended August 17.

ESSA Bancorp (ESSA) in Stroudsburg, Pa., has agreed to a buy most of First National Community Bancorp's (FNCB) retail operations in Monroe County.

The $557 million-asset company announced Monday that Holland will become chief credit officer for its SouthCrest Bank unit. He succeeds Kent Berry, who retired this year.

Capital One Financial Corp. (COF) has agreed to buy Beech Street Capital, a mortgage firm that specializes in government-insured and multifamily loans.