Location Root Tag

Heritage Financial Corp. in Olympia, Wash., is taking a 10% discount to its common stock to raise $50 million of fresh capital.

More companies are shuttering branches obtained in Federal Deposit Insurance Corp.-backed deals. In most cases, buyers took on branches in markets beyond their geographical scope, or came to a later realization that it would cost too much to maintain and compete for greater market share in single-branch markets.

Private investment-backed Cordia Bancorp Inc. has received regulatory approvals to buy a majority stake in the $219.3 million-asset Bank of Virginia.

Donegal Financial Services Corp. in Marietta, Pa., and Union Financial Corp. of Lancaster, Pa., said they need more time to complete their merger.

First Financial Bancorp in Cincinnati will close five branches obtained from failed-bank purchases.

Combined, Nara Bancorp Inc. and Center Financial Corp. in Los Angeles have 40 branches around the country and are larger in assets than the category’s current No. 1.

First State Bancorp. has spent 16 months trying to convince buyers that its deposit franchise outshines its flaws, but its time to strike a deal might be dwindling.

Alaska USA Federal Credit Union, which has been building a presence in California for two years, is opening all seven of its branches in the Golden State to shared branching through the CU Service Centers Network.

Home Federal Bancorp Inc. of Shreveport, La., has launched a syndicated community offering to complete a second-step conversion.

Park National Corp. in Newark, Ohio, is adding $5 million of common equity to its war chest. The $7.1 billion-asset company said Wednesday that it had agreements with institutional investors to sell nearly 72,000 shares.

After almost a year in doubt, shareholders of Tower Bancorp Inc. and First Chester County Corp. in Pennsylvania on Wednesday approved Tower's pending purchase of First Chester.

First BanCorp said Wednesday that it plans to sell nearly $702 million in loans to a new joint venture in order to reduce its high-risk exposure to Puerto Rico's crippled economy.

The $12.6 billion-asset company said on Monday that it had hired Thomas Doherty to lead business banking and promoted Richard Bechtel to oversee mortgage banking.

North Valley Bancorp in Redding, Calif., is planning a 1-for-5 reverse stock split to remain in compliance with Nasdaq listing policy.

Shareholders of Comm Bancorp Inc. have approved the Clarks Summit, Pa., company's sale to F.N.B. Corp. in Hermitage, Pa.

WSFS Financial Corp. in Wilmington, Del., has announced its purchase of a bank from National Penn Bancshares Inc. in Boyertown, Pa.

Wintrust Financial Corp. in Lake Forest, Ill., is raising capital to repay government funding.

An M&A situation playing out in Puerto Rico is shining a light not only on the banks involved, but also on the U.S. government's strategy for salvaging its endangered Tarp investments.

The city of New Haven, Conn., is asking federal and state regulators to block the proposed $1.5 billion sale of NewAlliance Bancshares Inc. in New Haven to First Niagara Financial Group in Buffalo, N.Y., claiming the transaction would not meet the "needs or convenience" of the community.

Community Shores Bank Corp. in Muskegon, Mich., said Monday that it is voluntarily delisting from the Nasdaq. Community Shores said in a press release that it expected to file the delisting with the Securities and Exchange Commission on Dec. 16, when it also will cease trading its common stock on the Nasdaq.