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Ontario, Calif., — CU Direct Corp. announced that its board approved the payment of a 3% cash dividend to its 104 credit union shareholders, making it the tenth straight year that the company has issued a cash dividend to shareholders.

KeyCorp in Cleveland beat earnings forecasts on the strength of increased fee income.

Royal Bank of Canada is ready to take another shot at U.S. banking, agreeing to buy City National in Los Angeles.

The $794 million-asset Kentucky Bancshares will pay $7.2 million, or $32.50 a share, in stock for the $121 million-asset Madison.

Madison, Wis. — Credit unions and CU organizations are invited to apply for a Biz Kid$ Financial Education Grant from the National Credit Union Foundation, now through March 31.

LENEXA, Kan. — CommunityAmerica CU here returned more than $6 million to members through its Profit Payout program, with eligible members seeing an average return of $90.

United Community Banks in Blairsville, Ga., reported higher quarterly profit because of loan growth and higher fee revenue.

Ocwen Financial Corp. named two new members to its board of directors as the nonbank servicer works to repair its image in the eyes of regulators and investors.

Saco & Biddeford Savings in Saco, Maine, has a new president.

U.S. Bancorp in Minneapolis reported higher quarter earnings as revenue growth outpaced higher expenses.

Clark County Credit Union said it has awarded $2.7 million to nearly 34,000 members in the form of a bonus dividend.

Fifth Third Bancorp in Cincinnati reported a drop in fourth-quarter profit on lower interest income from lending, and from decreased fees from mortgage banking.

MOUNTAIN HOME, Idaho — Pioneer Federal Credit Union here has deployed video teller technology to its ATMs.

WASHINGTON — President Obama vowed to veto any future "unraveling" of the Dodd-Frank Act during his State of the Union address Tuesday night, further uniting Democrats against major changes to the law under the GOP-led Congress.

Cathay General Bancorp in Los Angeles has agreed to buy Asia Bancshares in New York.

The Louisiana company is the latest out-of-stater to move into the Sunshine State after buying a failed bank in the Florida Panhandle. First NBC's chief executive made it clear his company has more expansion in mind.

Regional banks M&T and Regions Financial continue to see healthy loan growth, but low interest rates (combined with their own special problems) are preventing them from translating it into higher profits.

PL Capital in Naperville, Ill., disclosed in a regulatory filing last week that it wants Joseph Palmer Jr. and John Yerkes Jr. to resign rather than stand for reelection at the $542 million-asset company's Feb. 10 annual meeting.

Bankwell Financial Group in New Canaan, Conn., has hired a new chief strategy officer.

M&T Bank in Buffalo, N.Y., reported a higher quarterly profit as lower expenses offset tighter margins.