Location Root Tag

Southern Community Financial Corp. said Thursday that it has formed a small-business division. The Winston-Salem, N.C., company will place a small-business banker in all 22 branches.

United Community Banks Inc. in Blairsville, Ga., is emerging from its credit woes with plans announced late Wednesday to raise $380 million.

United Community Banks Inc. said late Wednesday that it is raising $380 million through a private placement with an affiliate of Corsair Capital LLC and a group of institutional investors.

A technology subsidiary of the holding company Rurban Financial Corp. must improve its capital position and strengthen operational oversight under a consent order with the Federal Reserve Board.

A pair of community banks have reduced the Treasury Department's ownership stake in their companies.

Unitus Community Credit Union in Portland, Ore., pledged Tuesday to keep offering free checking and free online services such as bill pay even as many banking companies are starting to charge fees for the services.

Integra Bank Corp. in Evansville, Ind., on Tuesday reported a fourth-quarter loss of $42.8 million, half its loss in the year-earlier period.

S&T Bancorp Inc. in Indiana, Pa., said Wednesday that it was revising its fourth-quarter and full-year 2010 results to reflect a higher loan-loss provision.

TIB Financial Corp. in Naples, Fla., said late Tuesday that it returned to profitability after its new owner, North American Financial Holdings, restructured its balance sheet.

The Federal Reserve granted bank holding company status Tuesday to a Japanese company that has agreed to acquire a Japanese-owned bank in New Jersey.

Baird expanded its wealth management business Tuesday by recruiting new advisers overseeing a total of $450 million in client assets to two of its new offices.

Tri-Valley Bank in San Ramon, Calif., said late Monday that it had terminated a planned $10 million private placement and had named a new chairman.

The Federal Reserve Board on Tuesday announced written agreements with two banks.

FNB United Corp. in Asheboro, N.C., was out of equity at the end of 2010, prompting it to warn about its future. The $1.9 billion-asset company said Monday in its annual report filed with the Securities and Exchange Commission that there is substantial doubt about its ability to continue as a going concern.

Sun Bancorp Inc. in Vineland, N.J., plans to sell up to $75 million of common stock. The $3.4 billion-asset company, which received a $100 million capital infusion last summer, said it could use the proceeds from the offering to shore up capital at its bank, support losses from potential loan sales, repay debt or make acquisitions.

On Friday, the $1.8 billion-asset company in Marietta, Ohio, said it had hired Charles W. Sulerzyski, a former regional president for KeyCorp's Great Lakes region, to serve as president and chief executive, effective April 4.

North American Financial Holdings Inc. has informed its equity investors that it is thinking about consolidating all its recent bank purchases.

The largest shareholder of Magyar Bancorp Inc. of New Brunswick, N.J., is demanding that its chairman resign, pointing to "significant losses."

Regulators shuttered The First National Bank of Davis, a $90 million-asset institution in Oklahoma, and the $190 million-asset Legacy Bank in Milwaukee. The two closures brought the year's toll to 25.

Wells Financial Corp. in Wells, Minn., said Friday that it revised its 2010 results after boosting reserves for selected loans and repossessed properties.