Location Root Tag

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.

WASHINGTON — Four more banks failed Friday night totaling $1.2 billion in assets and costing the Federal Deposit Insurance Corp. an estimated $320 million.

PremierWest Bancorp in Medford, Ore., is extending its public stock offering by two days to April 2. The $1.56 billion-asset company started the offering last Monday to raise $17.3 million.

Flagstar Bancorp Inc. in Troy, Mich., has priced the $250 million common equity offering it announced earlier this month.

The Federal Reserve on Thursday issued enforcement actions against two bank holding companies.

BBVA Compass, the U.S. unit of Banco Bilbao Vizcaya Argentaria SA in Madrid, discovered an eager work force at the Texas bank, but an otherwise blank canvas for consumer products and small-business lending, since the bank had focused primarily on mortgage purchases.

PVF Capital Corp. in Solon, Ohio, is expected to amass an additional $30 million of capital by today to combat its growing pool of problem assets.

Accountants for Amcore Financial Inc. of Rockford, Ill., said its future is in doubt.

In only the second bank IPO since mid-2007, a Montana company's shares debuted on the Nasdaq this week. Analysts say the initial public offering from First Interstate BancSystem Inc. of Billings, which raised $145 million Wednesday, is another sign that the capital markets are thawing and companies are starting to take advantage of that.

An initial public offering of shares of First Interstate BancSystem Inc. in Billings, Mont., debuted at $16 on the Nasdaq Wednesday, up 10.3% from the price Tuesday night.