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The Federal Reserve Board said Thursday that it had issued a prompt-corrective-action order to Virginia Business Bank in Richmond.

The Florida company, which was bought in May 2009 by private investors, raised $783 million in its initial public offering, more than 18% than what it initially expected.

Taylor Capital Group Inc. in Rosemont, Ill., might have its arms around its commercial real estate problems, but other banks' CRE problems are weighing it down.

National Penn Bancshares Inc. in Boyertown, Pa., said Thursday that net income fell 36% in the fourth quarter from a year earlier but asset quality trends continued to improve.

First Niagara Financial Group Inc. in Buffalo reported a 58.8% increase in fourth-quarter net income Thursday. The $21 billion-asset company said its profit rose by $17 million from a year earlier, to $45.9 million, or 22 cents a share.

First National Community Bancorp Inc. of Dunmore, Pa. has hired investment bank Sandler O'Neill Partners LP to help it evaluate "capital and strategic alternatives."

HMN Financial Inc. in Rochester, Minn., said it plans to defer paying the next dividend it owes the Treasury Department.

The chairman of the Fort Worth, Texas, home builder D.R. Horton said foreclosures and tighter mortgage lending standards are factors hurting his company's performance.

Hanmi Financial Corp. in Los Angeles on Thursday reported its first profitable quarter in more than two years. The $2.9 billion-asset company earned $5.3 million in the fourth quarter, compared with a loss of $35.9 million a year earlier.

Susquehanna Bancshares Inc. in Lititz, Pa., announced an agreement to buy Abington Bancorp Inc. in Jenkinton, Pa.

Astoria Financial Corp. in Lake Success, N.Y., has announced that its chief executive officer will retire at midyear.

Cullen/Frost Bankers Inc. in San Antonio posted a slight increase in fourth-quarter earnings compared to a year earlier. The $17.6 billion-asset company's earnings rose 3.1%, to $53.1 million. The loan-loss provision was half what it had been a year earlier, at $11.3 million.

UMB Financial Corp. in Kansas City, Mo., reported a 20.2% decline in fourth-quarter earnings from a year earlier, to $19 million, largely due to higher personnel costs tied to past acquisitions.

Iberiabank Corp. in Lafayette, La., has reported that fourth-quarter earnings fell 89% from a year earlier, to $13 million, largely due to the costs of consolidating two units and the purchase of a failed bank.

Tower Bancorp Inc. of Harrisburg, Pa., reported a surprising fourth-quarter loss Wednesday. It came from a spike in Tower's loan-loss provision, along with expenses tied to its December purchase of the struggling First Chester County Corp.

In taking a piecemeal approach to selling problem assets, First Midwest Bancorp Inc. seems to be pleasing only itself.

NewAlliance Bancshares Inc. in New Haven, Conn., reported a 25% increase in annual net income Tuesday. The $9 billion-asset company, which is set to be acquired by First Niagara Financial Group, earned $58 million in 2010, or 59 cents a share, compared with $46.4 million, or 47 cents a share, in 2009.

Bank of the Ozarks Inc. in Little Rock, Ark., reported a 75.5% jump in fourth-quarter earnings from a year earlier, to $16.9 million, including $4.6 million from its fourth failed-bank purchase.

First California Financial Group Inc. in Westlake Village has reported that its regulator lifted an informal agreement, clearing the way for it to pay dividends.

PrivateBancorp Inc. in Chicago reported its second straight profitable quarter as credit quality continued to show signs of stabilizing and it added commercial and industrial loans.