Location Root Tag

StellarOne (STEL) in Charlottesville, Va., is planning to eliminate about 4% of its workforce, or 34 full-time jobs, as part of an overall cost-cutting effort that it says would save the company up to $2.4 million a year.

Continuing its rapid expansion in mortgage banking, Cardinal Financial (CFNL) in McLean, Va., announced Monday that its home lending subsidiary, George Mason Mortgage, has opened an office in the Baltimore suburbs.

The investment group Castine Capital Management has been sharply reducing its ownership stake in First California Financial Group (FCAL) even as it has been pressuring the company to sell itself.

After putting its initial public offering plans on ice, Customers Bancorp in Wyomissing, Pa., has placed $270 million of its investment portfolio on the auction block.

First California Financial Group's decision to turn down a buyout offer from PacWest Bancorp (PACW) has angered at least one of the company's largest shareholders.

WSFS Financial (WSFS) of Wilmington, Del., has lowered its previously reported first-quarter earnings after the implementation of a new risk-rating system led it set aside more funds for loan losses.

BancorpSouth in Tupelo, Miss., announced Thursday that its longtime leader Aubrey Patterson plans to relinquish his duties as chief executive in 2013.

The Federal Reserve Board has entered into written agreements requiring two holding companies to serve as sources of strength for their community banks.

Jay Sidhu says Customers Bancorp, a Wyomissing, Pa., company could also revisit its now-delayed IPO by the end of the year.

ROCKVILLE, Md. — Branchless-Realtors FCU, billed as the first virtual credit union when it was chartered by the National Association of Realtors three years ago, is throwing in the towel and plans to merge into Northwest FCU, the $2.2 billion credit union in nearby Herndon, Va.

The $5.4 billion-asset company's aggressive pursuit of First California and American Perspective may inspire others to abandon the traditional courtesies of the bank deals market.

Clifton Savings Bancorp (CSBK) in New Jersey said Wednesday that it is making a concerted effort to increase its lending in low- and moderate-income neighborhoods so that it can improve its Community Reinvestment Act rating and follow through with its plan to become a 100% stock-owned company.

Hawthorn Bancshares (HWBK) in Lee's Summit, Mo., has repaid $12 million of the $30.2 million in funds it received under the Troubled Asset Relief Program.

PlainsCapital's relatively weak price may give aspiring sellers a reason to pause, though industry observers say there are reasons why this deal failed to meet the hot premiums that other Texas banks have commanded.

PacWest Bancorp in Los Angeles is attempting a hostile takeover just days after unseating Umpqua Holdings to buy American Perspective Bank. Industry observers say the company's newfound buying aggression might make it a better seller someday and give its PE investors a tidy exit.

First National Corporation in Strasburg, Va., is planning to raise up to $11.8 million in a rights offering and intends to use the proceeds to bolster its capital levels, invest in its expansion and perhaps buy back preferred shares issued under the Troubled Asset Relief Program.

Enterprise Financial Services (EFSC) in St. Louis is aiming to repay at least part of the $35 million it received from the Troubled Asset Relief Program by the end of this year.

Hilltop Holdings announced Wednesday that it is buying PlainsCapital of Dallas for roughly $520 million in cash and stock.

PacWest Bancorp (PACW) in Los Angeles is dead serious about expanding its California footprint through acquisitions.

The bank, led by ex-Sovereign chief Jay Sidhu, cited uncertain market conditions.