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Encore Bancshares in Houston said Friday that it had received regulatory approval to sell certain operations in Florida to Ovation Holdings Inc.

Pinnacle Bankshares Corp. in Altavista, Va., said Friday that it is looking for a new president and chief executive. The $334.7 million-asset company said in a filing with the Securities and Exchange Commission that Robert H. Gilliam Jr. plans to retire from the company and its First National Bank unit "in a midyear 2011 time frame."

Shareholders of Capital Bank Corp. have approved the sale of a majority stake in the Raleigh, N.C., company to North American Financial Holdings Inc.

Steele Holdings Inc. said Friday that it had bought American State Bank in Arp, Texas. Steele, a private company based in Tyler, Texas, paid an undisclosed amount of cash for the $220.2 million-asset bank.

PAB Bankshares Inc. has announced that it received a prompt corrective action directive from the Federal Reserve due to the "significantly undercapitalized" status of its Park Avenue Bank.

It was another busy — and costly — night for regulators in the Southeast. Of the nation's six failures Friday — bringing the year's total to 157 — three were in Georgia and one was in Florida, continuing the onslaught the two states have suffered in the crisis.

Bloodied but unbowed, the Florida banking market is poised for a rebound, but only a handful of in-state banks have the capital to take advantage of one.

Tower Bancorp of Harrisburg, Pa., said it is looking to raise $44.5 million in capital less than a week after closing its long-delayed acquisition of First Chester County Corp.

Polonia Bancorp in Huntingdon Valley, Pa., has dropped plans to buy back common stock after its takeover of a failed bank.

American National Bankshares Inc. in Danville, Va., announced it is buying MidCarolina Financial Corp. for $38.8 million.

United Bankshares Inc. announced Thursday that it has agreed to buy Centra Financial Holdings Inc. for $187 million.

Sandy Spring Bancorp Inc. in Olney, Md., redeemed the remaining $41.5 million of preferred stock held by the Treasury Department.

First Mid-Illinois Bancshares Inc. in Mattoon said Tuesday that it would raise up to $25 million in capital through a private placement of preferred stock.

BancFirst Corp. in Oklahoma City on Wednesday completed its purchase of OK Bancorp., its second acquisition this week.

United Western Bancorp Inc. in Denver said its thrift was undercapitalized at Sept. 30 after further writedowns on its portfolio of mortgage-backed securities.

Beehive Credit Union in Salt Lake City, which once had assets of $200 million and unsuccessfully tried to convert to a mutual savings bank, was shut down Wednesday.

Sun Bancorp Inc. in Vineland, N.J., said Wednesday that it expects to report a $25 million loss from the sale of commercial real estate loans.

Norwood Financial Corp. in Honesdale, Pa., has agreed to buy rival North Penn Bancorp Inc. of Scranton for $27.1 million.

At a time when banks need to distinguish themselves and boost revenue, Investors Bancorp Inc. is embracing a service that many banks are wary of: remittances.

Washington Trust Bank in Spokane is offering mobile banking services to its customers through text, mobile Web and dedicated applications using mFoundry Inc.'s software.