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SP Acquisition Holdings Inc., a blank check company with $429 million to spend, has agreed to buy the $4 billion-asset Frontier through a share exchange and then recapitalize its bank.

As FSI Group LLC prepared to pour $40 million into Security Bank Corp. last year, it considered what it thought would be the worst-case scenario.

Though the seizure of Security Bank Corp.'s six banks did nothing to change Georgia's reputation as a failure hub, many are calling the resolution the best thing to happen to the state's banking market in years.

A year after posting its first loss, Corus Bankshares is out of capital and out of options. The $7 billion-asset Chicago company reported Friday that it lost $487.3 million in the second quarter, leaving its bank unit with a capital deficit of $157 million.

Despite a second-quarter loss of $43.9 million that left it with a capital shortfall, Integra Bank Corp. in Evansville, Ind., said Friday that it has made progress in dealing with its souring credit quality.

Though its nonperforming loans grew dramatically in the second quarter, Appalachian Bancshares Inc. in Ellijay, Ga., said Thursday that it expects to bring in enough capital to satisfy a regulatory order.

For a year and a half, Taylor Capital Group in Rosemont, Ill., has tried to distinguish the growth of its commercial and industrial lending from the credit problems in its residential real estate portfolio.

After posting its fifth consecutive quarterly loss and falling out of compliance with a regulatory order, Pacific Capital Bancorp said it is weighing "strategic alternatives" — which usually means a company is on the sales block.

With its credit quality increasingly troubled, Midwest Banc Holdings Inc. was already among the relatively small group of banks to defer dividend payments on the government's preferred shares.

Amcore Financial, a $5.1 billion-asset company in Rockford, Ill., reported a loss of $10.7M in the second quarter, its sixth consecutive loss.

Under Jay Sidhu, the former chairman and CEO of Sovereign Bancorp, New Century Bank, plans to launch an aggressive mortgage warehouse lending initiative.

Webster Financial Corp. of Waterbury, Conn., is getting a $115 million infusion from the private-equity firm Warburg Pincus LLC.

First Pittsburgh. Now Philadelphia. And First Niagara Financial Group Inc. says there's more to come. The Lockport, N.Y., company announced Monday that it had agreed to buy the struggling Harleysville National Corp. for $237 million in stock, or $5.50 a share. By itself, the deal would add $5.6 billion in assets and 83 branches in demographically attractive counties around Philadelphia to the $11.6 billion-asset First Niagara. Combined with a deal announced in April for 57 former National City Corp. branches in the western part of the Keystone State, the Harleysville National acquisition would increase First Niagara's asset size by 87% and double its branch count.

F.N.B. Corp. in Hermitage, Pa., said Friday it made progress on reducing its troubled Florida loans.

Nonperforming assets continued to rise at an already stressed Citizens Republic Bancorp of Flint, Mich., in the second quarter, as the Michigan economy deteriorated further.

With loan trouble continuing to escalate, United Community Banks Inc. in Blairsville, Ga., swung to a $23.1 million operating loss in the second quarter, from a $7.1 million operating profit a year earlier.

Recognizing the cash crunch many small businesses are facing, a Colorado banking company has come up with a plan to help them increase their visibility — and, it's hoped, their sales — without increasing their marketing budgets.

Capitol Bancorp Ltd. has spent years expanding into growth markets to offset the sputtering Michigan economy. But now Capitol, sputtering itself, is practically dumping its home state.

Though its Florida bank unit continued to struggle, Park National in Newark, Ohio, earned $19.9M in the 2Q, a 9.2% increase from a year earlier.

Though its Florida bank unit continued to struggle, Park National in Newark, Ohio, earned $19.9M in the second quarter, a 9.2% increase from a year earlier.