Location Root Tag

First Citizens BancShares in Raleigh, N.C., has finally combined its two main subsidiaries. The $21 billion-asset company said IronStone Bank, its thrift, merged into First Citizens Bank, a state-chartered bank, on Friday.

Frequent bank investor Thomas Brown has taken a stake in Mercantile Bank Corp. of Grand Rapids, Mich.

In the midst of the largest Korean-American bank merger, Center Financial Corp. has "terminated" its chief executive.

It's unlikely that SunTrust Bank wanted to become a part owner of a small North Carolina bank when it made a $15 million loan nearly three years ago.

Yakima Valley Credit Union in Yakima, Wash., said Wednesday that it has signed a nonbinding letter of intent to merge with Catholic Credit Union to create a credit union with almost $500 million in assets and serving 50,000 members.

City County Credit Union in Fort Lauderdale, Fla., plans to double its coverage in the state by expanding into nine nearby counties.

First BanCorp in San Juan, Puerto Rico, has reduced its shares outstanding to 21 million after a 1-for-15 reverse stock split.

Tower Bancorp Inc. of Harrisburg, Pa., said Wednesday it may cost up to $5.6 million to shut down the former mortgage division of First Chester County Corp., a bank Tower bought in December.

The Federal Reserve Board reached written agreements with five community banks Thursday.

CapitalSource Inc. may not be drowning, but that isn't stopping the Chevy Chase, Md., finance company from looking for help.

Carolina Trust Bank in Lincolnton, N.C., raised $6.3 million after selling 2.1 million shares of common stock.

First Commonwealth Financial Corp. in Indiana, Pa., has named a company insider to become its chief risk officer.

Capitol Bancorp Ltd., which has headquarters in Lansing, Mich., and Phoenix, has commenced an exchange offer to holders of its trust-preferred securities.

A land deal in Iowa City, involving the city and a credit union is the focus of a legal battle.

BankFirst of Winter Park, Fla., has agreed to acquire Commercial Bancorp Inc. of nearby Ormond Beach.

Webster Financial Corp. in Waterbury, Conn., said it had given more responsibilities to its chief financial officer, Gerald Plush.

United Bankshares Inc. in Charleston, W.Va., said it expects a $15 million insurance claim payment to help lift its fourth-quarter earnings.

Rarely is bankruptcy court a welcome detour, but more struggling banks may take it to overcome debtholders blocking their recapitalization efforts.

Several companies kicked off 2011 by completing acquisitions.

Independent Bank of Austin said Tuesday that it has changed its legal name to I Bank Texas. The $156.8 million-asset company, which is based in Lakeway, was created in 2005. A website was also developed to reflect the new name.