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Cherokee Banking Co. of Canton, Ga., has reached an agreement with the Federal Reserve stipulating that it cannot declare dividends without prior approval from the central bank.

Harris Financial Corp. of Chicago, which acquired the failed Amcore Bank of Rockford, Ill., last month, said it is opening a private banking office in Rockford to be headed by an Amcore executive.

Continental Bank Holdings Inc. of Plymouth Meeting, Pa., announced Thursday that it has agreed to buy First Resource Bank of nearby Exton, Pa., for about $8 million.

Integra Bank Corp. of Evansville, Ind., reached an agreement with the Federal Reserve requiring it to secure approval before taking on debt or paying dividends.

Capitol Bancorp Ltd., which is trying to harvest capital by selling its unit banks, reported that it was undercapitalized by at least one measure at the end of the first quarter.

Though it is still addressing significant credit issues, Saehan Bancorp in Los Angeles appears to be on the upswing.

For months now, private-equity executives and bankers have been in opposing camps in the battle for struggling banks. But Jacksonville Bancorp Inc. in Florida showed this week that it's sometimes better to recruit a rival than fight it.

Four small banks totaling $730 million in assets were closed late Friday on a relatively light evening for the Federal Deposit Insurance Corp.

New England Bancshares Inc. swung to a profit of $700,000 for its fiscal fourth quarter, compared with a loss of $1 million a year earlier, as net interest income improved and credit costs fell.

The Federal Reserve announced Friday that on May 4 it placed South Financial Group Inc. of Greenville, S.C., under a written agreement that, among other things, prevents the $12 billion-asset company from paying dividends without prior approval.

The stock of the embattled TierOne Corp. in Lincoln, Neb., has been delisted from the Nasdaq stock market and is now trading over the counter.

As a result, Gulf Coast bankers are optimistic about the potential for new business stemming from the recovery effort after the recent oil spill.

Northwest Bancshares Inc. in Warren, Pa., has agreed to buy NexTier Inc. in Butler, Pa., for $20.3 million, the companies announced late Wednesday.

Integra Bank Corp. in Evansville, Ind., has a new strategy for addressing its problem assets: Get them off the books as quickly as possible.

The vultures are circling around Midwest Banc Holdings Inc., and it's a scene that could become increasingly common as competition for failed banks intensifies nationwide.

Anchor BanCorp Wisconsin Inc. in Madison has bought itself more time from its lender. The struggling, $4.6 billion-asset company announced late Monday that U.S. Bancorp had agreed to put off for a year the due date on a $116.3 million loan

Independence Federal Savings Bank in Washington has called off its acquisition of Colombo Bank in Rockville, Md., after an indication from regulators that the deal had been delayed indefinitely.

The Federal Reserve on Monday announced it has taken enforcement action against banks in Montana and Florida.

Less than a week after making a deal with a private-equity firm and the Treasury Department, Sterling Financial Corp. in Spokane announced it is raising $555 million in capital through private placements with several investors.

Regulators have dealt another setback to TierOne Corp. in Lincoln, Neb., by rejecting the company's proposal to sell half its branches to Great Western Bank.