Location Root Tag

The ability of Somali-Americans to send cash home to their relatives is again in peril after a California bank decided to stop facilitating the money transfers, according to a foreign aid organization that has been monitoring the situation.

State Bank Financial in Atlanta reported a decline quarterly profits as the accounting benefits related to its failed-bank purchases continued to wane.

New York Community Bancorp wants Washington to raise the asset size for systemically important financial institutions, but in the meanwhile its asset sales to stay under the threshold helped to boost profits and its CEO is pursuing possible M&A deals.

Umpqua Holdings in Portland, Ore., fell short of Wall Street expectations for the fourth quarter because of a decline in fee-based income.

TAMPA, Fla. — A new credit union gaming app is slated to show up in both Apple and Google app stores as early as Feb. 28 as a result of GTE Financial CU's inaugural "Got Game" competition.

Ameris Bancorp in Moultrie, Ga., has has agreed to buy Merchants and Southern Banks of Florida in Gainesville, along with a number of Bank of America branches.

Alamogordo Financial Group in New Mexico has split the roles of president and chief executive.

JOHNSON CITY, Tenn. — Johnson City FCU here has a new name, reflecting its expansion from serving members in just one county in Tennessee to seven counties throughout the Northeast Tennessee and Southwest Virginia region.

LAS VEGAS — The longtime head of Clark County Credit Union plans to retire this summer, Credit Union Journal has learned.

First Horizon successfully lobbied for a lower exchange ratio for its purchase of TrustAtlantic in North Carolina after four commercial lenders left the seller to open an office for another bank.

UMB Financial in Kansas City, Mo., reported lower quarterly profits after taking a loss on certain alternative investments.

Hudson City Bancorp in Paramus, N.J., reported lower quarterly profits as its loan book keeps shrinking.

Doral Financial in San Juan, Puerto Rico, said that the FDIC has placed its bank under a prompt corrective action directive, an enforcement order that is often considered one of the last public warnings before regulators move to place the bank into conservatorship.

Cullen/Frost Bankers in San Antonio has a new president.

MADISON, Wis. — As part of its restructuring efforts with state leagues, CUNA plans to survey credit union CEOs as early as next week.

MADISON, Wis. — When it comes to private student loans, the growing success of Internet-driven lending models that can offer lower rates has caught the attention of some credit unions executives.

Alexandria, Va. — Pentagon Federal Credit Union (PenFed), the $18.6-billion institution based in Alexandria, Va. has introduced a new financial product for its membership: the "Access America" checking account.

United Community Banks in Blairsville, Ga., has agreed to buy MoneyTree Corp. in Lenoir City, Tenn.

Farmers National Banc Corp. in Canfield, Ohio, has agreed to buy National Bancshares in Orrville, Ohio.

FirstMerit in Akron, Ohio, reported higher quarterly earnings as cost controls compensated for a decline in interest income.