Location Root Tag

Iberiabank in Lafayette, La., is reloading with heavier artillery. The $9.7 billion-asset company announced plans Tuesday to raise another $300 million, plus a 15% option for underwriters.

It sounds counterintuitive: USAA Federal Savings Bank's customers will soon access a more-secure mobile banking service by entering less information.

California United Bank in Encino on Monday announced a 63% decline in profits for 2009 compared with 2008.

Mercantile Bank Corp. in Grand Rapids has revised its fourth-quarter results to reflect a 65% increase in its provision for loan losses.

State regulators shut two banks on Friday, bringing the year's total failures to 22. The failures are expected to cost the Deposit Insurance Fund $103.1 million.

Morphis Inc., a Dallas payments-management software provider, has introduced a low-cost, online cash-forecasting tool that community banks and credit unions can use to manage their automated teller machines.

Glen Burnie Bancorp of Maryland said its 2009 net income rose 212% to $1.26 million.

Sterling Banks Inc. in Mount Laurel, N.J., has given shareholders more information about a restatement for the second and third quarters of 2009.

BancorpSouth Inc. in Tupelo, Miss., surprised investors late last week by announcing it would delay filing its annual report because auditors found asset-quality issues that will likely require an earnings restatement.

EverBank in Jacksonville, Fla., is negotiating to buy a $10 billion package of residential servicing rights from Flagstar Bancorp, according to investment banking sources familiar with the matter.

Macatawa Bank Corp. in Holland, Mich., said its banking subsidiary has entered into a formal agreement with regulators that requires higher-than-typical capital ratios and orders the bank to clean up its asset portfolio.

The parent company of HeritageBank of the South in Albany, Ga., announced a deal Thursday to acquire five branches from the Park Avenue Bank, which has struggled with credit-quality problems.

With an overflowing pot of capital at his small New Century Bank, Jay S. Sidhu is ready to make some big deals.

PacWest Bancorp in San Diego has sold off a significant portion of its troubled loans at a steep discount in an attempt to refocus on growth.

Sterling Bancshares Inc. in Houston has hit speed bumps including a terminated branch deal, an earnings restatement and a sharp rise in nonperforming assets.

Cascade Bancorp's largest shareholder, in affiliation with a PE firm, agreed to invest $65 million into the struggling bank — but only if it found capital elsewhere first.

Taylor Capital Group Inc. in Rosemont, Ill., announced it is selling its corporate trust business to Amalgamated Bank of Chicago.

Sonoma Valley Bancorp has been required to restate its third-quarter results after a recent regulatory exam.

Small banks face myriad and often frustrating obstacles to acquiring failed banks. But some smart strategies have separated the successful bidders from the rest, including raising excess capital well before a bid, targeting fewer and smaller banks, tracking enforcement actions of potential failures and bringing in well-seasoned management to see a deal through.

The parent company of American Federal Savings Bank in Helena, Mont., has gotten regulatory approval to complete the second step of its conversion to a stock company.