The Latest

Hancock Holding in Gulfport, Miss., will increase its allowance for loan losses by $42 million to cover weakness in energy-related credits.

The $350 million-asset Pacific Commerce said in a press release Thursday that it will pay $10.50 a share in cash and stock for the $211 million-asset ProAmerica.

The $3.4 billion-asset holding company for Five Star Bank received a letter on Wednesday from Clover Partners' managing director, Johnny Guerry, saying management has made the wrong decision on two recent deals. Clover owns about 5.2% of Financial Institutions.

TriState Capital Holdings in Pittsburgh has agreed to buy asset management firm Killen Group in Berwyn, Pa., for between $30 million to $35 million in cash, based on conditions tied to the asset manager's cash flow.

Bank of America has promoted Merrill Lynch wealth management executive Paul Lambert to be the bank's Chicago market president.

London-based Powa Technologies has formed a 10-year alliance with China UnionPay to extend the PowaTag smartphone shopping app to CUP’s 1.3 billion credit and debit cardholders.

Freddie Mac will begin issuing single-family mortgage-backed securities sometime next year via the new common securitization platform, the Federal Housing Finance Agency said Thursday.

FIS in Jacksonville, Fla., has partnered with the Venture Center to create an incubation lab to boost innovation in financial technology.