Location Root Tag

First Midwest Bank in Itasca, Ill., wants to make it perfectly clear — it is not to be confused with Midwest Bank and Trust Co.

Add Independent Bank in Ionia, Mich., to the list of companies that have successfully renegotiated the Treasury Department's investment under Tarp.

The Federal Reserve released written agreements with banks in Missouri and Florida on Thursday, limiting the firms' ability to pay dividends and boosting oversight of their operations.

United Community Banks Inc. has agreed to sell $100 million of nonperforming loans to an asset manager in order to rid illiquid assets and create capital as the bank continues to suffer from a credit crunch.

A research note from Sandler O'Neill & Partners LP last week said the $1.3 billion-asset company was required to increase capital levels, reduce problem assets, reduce exposure to construction and land loans and create a liquidity management plan.

The president of Frontier Financial Corp.'s bank unit said he was fired for trying to use vacation time.

Many smaller banks say they plan to keep offering such services because demand is strong and overdraft fee income is essential.

The Federal Reserve announced an enforcement action against Atlantic Bancgroup in Jacksonville Beach, Fla., a move taken to help maintain financial soundness at the firm.

The Federal Reserve Bank of St. Louis announced Tuesday it had entered into a written agreement with BankTennessee Bancshares Inc. and its subsidiary to improve its loan quality and tighten lending standards.

Orrstown Financial Services Inc. in Shippensburg, Pa., announced that it had raised $40 million in a public offering. The $1.2 billion-asset company said Monday that it sold 1.48 million shares of common stock for $27 a share, a 24.3% discount to its closing price on March 15.

Citizens Bancshares Corp. of Atlanta announced that its earnings declined 30% in 2009. The $388 million-asset company said Monday that its earnings dipped to $715,000, from $1 million in 2008.

A credit union public funds bill has been signed into law by Oregon Gov. Ted Kulongoski, removing a $250,000 ceiling on public fund deposits a credit union can hold.

BofI Holding Inc. in San Diego has announced plans to raise $13.19 million in a public stock offering. The $1.4 billion-asset company, whose business niche is providing banking services over the Internet, priced the offering of 1.066 million shares at $13 per share on Tuesday, 7% under its stock's Monday closing price of $14.

Amid concerns about its future, Amcore Financial Inc. in Rockford, Ill., said it had sold 12 branches and two stand-alone drive-up sites of its main subsidiary, Amcore Bank.

DataTreasury Corp.'s courtroom victory over three major payments companies is expected to give the check-imaging technology provider more ammunition in its ongoing patent battle with some of the country's largest financial companies.

Arrow Financial Corp. in Glens Falls, N.Y., said it has a deal to buy the area insurance firm Loomis & LaPann Inc. for an undisclosed price.

Atlantic Coast Federal Corp. has recruited veteran banker Jay S. Sidhu to its board.

A bill that would give New York credit unions access to tens of millions of dollars in municipal deposits cleared the New York State Senate last week as part of a budget resolution, giving it momentum for a vote in the state Assembly.

Centrue Financial Corp. in St. Louis reported a $14.5 million fourth-quarter loss on Monday, nine times more than its loss the year earlier.

When Pacific Continental says it is going to be picky, it has credibility. After all, the $1.1 billion-asset company in Eugene, Ore., has made only one acquisition since 1972.