Alabama

Nexity Financial Corp. in Birmingham, Ala., which has been operating under bankruptcy court protection, is shedding its wealth management division.

About 32%, or 47, of the 146 banks that acquired a failed bank from Jan. 1, 2009, through Aug. 19 of this year have recorded a net bargain-purchase gain from the failed bank's assets.

Superior Bancorp in Birmingham, Ala., said its net loss widened significantly in the second quarter, largely because of a huge boost in its provision for loan losses.

BancTrust Financial Group Inc. in Mobile, Ala., has announced that it earned $969,000 in the second quarter, compared with a loss of $118 million a year earlier.

Superior Bancorp in Birmingham, Ala., said Tuesday that it swung to a fourth-quarter loss of $11.5 million, from a $1.1 million profit a year earlier.

Superior Bancorp in Birmingham, Ala., has taken another step in its efforts to improve its capital position.

Seven failed banks holding a combined $14 billion in assets failed Friday in what was yet another busy night for the Federal Deposit Insurance Corp.

A few companies are trying to get the government to convert its preferred shares to common ones, but Superior Bancorp in Birmingham, Ala., had an even better idea, one widely expected to inspire imitators.

Guaranty Bank, a $13.5 billion-asset Austin thrift, failed on Friday and was scooped up by a Spanish-owned bank.