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The Federal Reserve Board has terminated a written agreement with Valley Financial that required the Roanoke, Va., company to serve as a source of strength for its bank.

Sophia Haliotis will be a senior vice president for Popular Community, the U.S. unit of the $36.3 billion-asset Popular in San Juan, Puerto Rico, and guide its expansion of commercial banking in the New York City region.

Pulaski Financial (PULB) in St. Louis has repurchased almost a quarter of the preferred stock it had issued to the Treasury Department under the Troubled Asset Relief Program and that was subsequently sold to private investors in an auction.

Malvern Federal Bancorp (MLVF) in Paoli, Pa., will raise up to roughly $36.4 million by converting to a 100% stock-owned company from a mutual holding company.

Preferred Bank (PFBC) in Los Angeles has added the role of president to the responsibilities of its chief operating officer, Wellington Chen.

Sound Financial in Seattle is nearing its conversion a fully stock-owned company.

HomeStreet Bank in Seattle has added the U.S. Small Business Administration loans to its menu of services for small and middle-market companies in the Puget Sound region.

Spirit of Texas Bank SSB in College Station said Friday that it is buying the $77 million-asset Oasis Bank in Houston.

Two businessmen, including a former Wachovia banker, were sentenced to federal prison for a $3 million bank fraud Thursday.

The Federal Reserve Board has entered into a written agreement with PNBK Sponsor that requires the Stamford, Conn., company to serve as a source of strength to its bank.

Shares of United Bancorp (UBCP) fell sharply Thursday after the Martins Ferry, Ohio, company announced that it was cutting its quarterly dividend in half in order to preserve capital.

Two banks that are majority-owned by Piedmont Community Bank Holdings in Raleigh, N.C., have agreed to merge.

First National Community Bancorp (FNCB) has finally caught up on its financial reports for 2011 — now on to 2012.

Anchor BanCorp Wisconsin (ABCW) in Madison narrowed its quarterly loss as its credit trends continued to improve.

The Federal Reserve Board has terminated a written agreement with Coastal Financial that required the Everett, Wash., company to improve asset quality and risk management.

Capital Bank in Raleigh, N.C., reported a 14% rise in second-quarter earningsm while TIB Financial in Naples, Fla., said its second-quarter profit nearly doubled.

Southwest Bancorp (OKSB) in Stillwater, Okla., has repurchased all of the $70 million in preferred securities it sold to the Treasury Department under the Troubled Asset Relief Program.

First Citizens BancShares (FCNCA) in Raleigh, N.C., posted strong second-quarter results because of higher net interest income and a lower loan-loss provision.

Susquehanna Bancshares (SUSQ) in Lititz, Pa., plans to raise up to $150 million through a senior notes public offering.

Morrill & Janes Bank and Trust in Merriam has agreed to buy United Bank of Kansas in Lenexa. United will be merged with Morrill and operate as a branch, Morrill said in a press release.