Location Root Tag

Ordered by regulators to improve capital ratios at its bank unit, First Mariner Bancorp of Baltimore is unloading a consumer finance arm for about half of what it thinks the business is worth.

Sun Bancorp Inc. in Vineland, N.J., warned Friday that it expects to report a third-quarter provision for loan losses of $16.2 million, a 133% increase from the second quarter.

Bank of America Corp. should not promote either Brian Moynihan or Gregory Curl to chief executive because both are "tainted" by the Merrill Lynch & Co. takeover, according to a shareholder.

As the former chief executive of Fair Isaac Corp., Larry E. Rosenberger knows a thing or two about credit risk. Now he's taking one, by extending a $500,000 loan to the cash-strapped Tamalpais Bancorp.

Frontier Financial Corp. of Everett, Wash., is scrambling for capital again, after announcing Monday that its lifesaving deal with a blank-check company had fallen apart.

FirstBank, a $2.2 billion-asset unit of First South Bancorp Inc. in Lexington, Tenn., has agreed to use the i-Remit service from eGistics Inc. for its check processing and wholesale lockbox lines of business, the Dallas archive hosting service announced Monday.

State and federal regulators shut three banks late Friday — $538 million-asset Warren Bank in Michigan, $56.3 million-asset Jennings State Bank of Spring Grove, Minnesota and $39.5 million-asset Southern Colorado National Bank in Pueblo — bringing this year's failure total to 98.

For the industry's entrepreneurs, buying a small depository, rather than building one from scratch, has gone from the exception to the rule.

State and federal regulators shut three banks late Friday — $538 million-asset Warren Bank in Michigan, $56.3 million-asset Jennings State Bank of Spring Grove, Minnesota and $39.5 million-asset Southern Colorado National Bank in Pueblo — bringing this year's failure total to 98.

Northern Trust Corp. announced that it has promoted Patrick Everett to Dallas regional president.

As the new president and chief executive of Flagstar Bancorp Inc., Joseph P. Campanelli has a lot of work to do, but he has been in challenging situations before.

But First Busey raised $122 million last week, becoming the latest example of a struggling company to find investors in the thawing capital markets.

A 30-year industry veteran wants to make Envoy Mortgage, the small but growing Houston nonbank originator he bought into 18 months ago, into a "middle tier" lender — one that ranks between 10th and 50th nationwide.

When Larry Brown, the chief executive at Bank of Little Rock, first heard the name Kasasa, he thought the conversation had turned from rewards checking to what's for dinner.

The Federal Reserve Board has ordered Bankers' Bancorp Inc. in Springfield, Ill., and its subsidiary Independent Bankers' Bank, to improve accounting practices.

KleinBank's new CEO already has a deal to buy a struggling one-branch competitor, and industry observers say more companies could start eyeing similar small deals.

The financial technology company Fiserv Inc. announced Monday that it has agreed to sell its Loan Fulfillment Solutions unit to ISGN Corp. of Bensalem, Pa.

PVF Capital Corp. in Solon, Ohio, cited a steep increase in its loan-loss provision in reporting that the net loss for its fiscal fourth quarter widened 192% from the year earlier, to $7.9 million.

The president and chief executive officer of Royal Asian Bank in Philadelphia is leading a group of investors that struck a deal to buy it.

Regulators closed the $2 billion-asset Georgian Bank in Atlanta on Friday, the industry's 95th failure of the year. Despite its relatively small size, regulators estimated it would take a heavy toll on the Deposit Insurance Fund, costing $892 million.