Location Root Tag

The Federal Deposit Insurance Corp. dusted off rarely used authority to charge the banks for the resolution costs of the other seven insolvencies — ultimately causing the $4.7 billion-asset Park National in Oak Park, Ill., and the $118 million-asset Citizens National Bank in Teague, Texas, to fail as well.

Charming Shoppes Inc. has closed on the sale of its private-label credit card portfolio to Alliance Data Systems Inc. for $166 million.

MasterCard Inc. said Monday that USAA Federal Savings Bank has signed up for its Integrated Processing Solutions debit platform.

MoneyGram International Inc. posted a narrower third-quarter loss thanks to stronger revenue than analysts expected.

Over a year after being hit hard by the takeover of Fannie Mae and Freddie Mac, FBOP Corp.'s nine banks totaling $19B in assets were closed by the government Friday night.

Two years into the financial crisis, spreads have widened considerably, and Beal's buying is in overdrive. Its assets surged 135% from a year earlier, to $7.5 billion at June 30.

In reporting a $12.6 million third-quarter loss, Cascade Bancorp also announced it has a second regulatory order — private-equity firm willing to give it an infusion.

An unexpectedly high number of cash withdrawals made with payroll cards at its Allpoint automated teller machines drove Cardtronics Inc. into the black in the third quarter.

For the first time in more than two years, nonperforming assets at Atlantic Coast Federal Corp. in Waycross, Ga., went down.

Intermountain Community Bancorp in Sandpoint, Idaho, said its third-quarter loss narrowed by 76% from the second quarter, to $2.7M, or 32 cents a share, as asset quality improved.

For the first time in more than two years, nonperforming assets at Atlantic Coast Federal Corp. in Waycross, Ga., went down.

Intermountain Community Bancorp in Sandpoint, Idaho, said its third-quarter loss narrowed by 76% from the second quarter, to $2.7 million, or 32 cents a share, as asset quality improved.

In reporting the loss of $156.4 million — by far the largest of its seven consecutive quarterly losses — William R. McManaman, Amcore's chairman and chief executive officer, said in a press release that a stock offering would be unlikely to succeed but that it continues to pursue other options for raising capital.

A thrift's unusually structured deal to take over a nonbank commercial lender encapsulates the key challenges facing both sectors: capital for the depositories and funding for the finance companies.

The Federal Reserve Board used its prompt corrective action powers Tuesday on SolutionsBank of Overland Park, Kan., after deeming it undercapitalized.

Metro Bancorp in Harrisburg, Pa., swung to a $490,000 loss in the third quarter, but said it plans to use the $77.9M of capital it just raised to complete its pending acquisition of Republic First Bancorp in Philadelphia and continue growing aggressively.

West Coast Bancorp of Lake Oswego, Ore., one of many struggling institutions in the Pacific Northwest, said Monday it managed to raise all the capital it needed to satisfy regulators — and then some.

Suprisingly sharp deterioration of its commercial real estate loans forced PrivateBancorp Inc. in Chicago to a $31.2 million loss in the third quarter and sent its stock tumbling Monday.

Porter Bancorp Inc. of Louisville, Ky., moved ahead Friday with plans to buy Citizens First Corp. directly from shareholders, after getting snubbed by the board.

Failures in 2009 shot past the 100-mark late Friday as regulators swooped into seven community banks in the Midwest and southeast.