Location Root Tag

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.

Carroll Bancorp in Sykesville, Md., has raised $5.1 million through a private placement of its common stock.

Liberty Bank & Trust in New Orleans has received regulatory approval to buy First Tuskegee Bank in Alabama, more than a year after the deal was first announced.

South State in Columbia, S.C., reported higher quarterly profits thanks to lower costs and higher fee-based income.

RICHARDSON, Texas — Texans Credit Union, which has been under NCUA conservatorship since April 2011, on Tuesday said it had net income of $21.7 million in 2014.

Homeowners associations seeking unpaid dues are seizing on a court decision allowing them to foreclose on properties ahead of banks, and the FHFA is litigating to defend Fannie and Freddie mortgages. Private lenders, meanwhile, are trying to keep the problem from spreading to more states.

RALEIGH, N.C. — Coastal Federal Credit Union said it has paid out in excess of $2.1 million in special dividends, earned by members through its VIP Program, making it the largest such payout in the four-year history of the program.