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Prairie Community Bank in Marengo, Ill., has raised $2.48 million in a private placement of its preferred stock.

After receiving final regulatory approval, the merger of $1.4 million St. Patrick (Croswell) Credit Union into $396 million Security Credit Union began earlier this month.

Clients of many community banks in Illinois can apply for short-term loans as lawmakers grapple over issuing paychecks while the state has no budget.

Sunshine Financial in Tallahassee, Fla., has asked for permission to switch to a state bank charter from a federal thrift charter.

Signature Bank in New York has formed a subsidiary to specialize in municipal finance and hired three executives for the division.

Piper Jaffray has agreed to buy River Branch Holdings, a Chicago investment bank that focuses on financial institutions.

Monica Hughes Davy is new director of the OMWI following a six-month search.

Small Pennsylvania credit union is fourth closure of 2015.

Colorado state regulators on Friday closed the $31.7 million-asset Premier Bank in Denver.

Bank of Stockton in California has agreed to acquire three California branches of from First Banks in Clayton, Mo, according to The Record in Stockton.

Pacific Continental in Eugene, Ore., has hired the former chief financial of Tower Financial in Indiana as its new CFO.

How do you know if a new product is really going to take off? When it’s something members were asking for and previously had to be steered to another institution.

The Republican presidential contender is reviewing legislation opposed by banks that would allow payday loan stores to expand into a variety of new products and services.

First Midwest Bank in Itasca, Ill., has hired Michelle Hoskins as an executive vice president and chief of human resources.

Business First Bancshares in Baton Rouge, La., has promoted two executives to newly created roles.

Anita Young will be the $1.4 billion-asset First Foundation's director of specialty deposits and target cash management services at niche business clients.

Though the Land of Lincoln doesn't have a budget, more than 60,000 state workers may be eligible for interest-free loans from the state's credit unions.

S&T Bancorp in Indiana, Pa., has promoted Jim Mill to chief information officer. In the newly created position, Mill will oversee the $6 billion-asset company's technology infrastructure and maintain its progress in offering new products.

BankFirst Capital in Columbus, Miss., has agreed to buy Newton County Bancorp. in Newton, Miss.

Chemung Financial in Elmira, N.Y., has promoted Anders Tomson to president and chief operating officer. Tomson had been president of Chemung Financial's Capital Bank, the name the company uses in its Albany County and Saratoga County, N.Y., markets.