Georgia

Oconee Federal Financial Corp. (OFED) in Seneca, S.C., has agreed to buy Stephens Federal Bank in Toccoa, Ga.

Synovus (SNV) in Columbus, Ga., is planning to replace two directors and pursue a 1-for-7 reverse stock split.

Ameris Bancorp (ABCB) in Moultrie, Ga., has received regulatory approval to buy back its remaining preferred stock tied to the Troubled Asset Relief Program.

The Federal Deposit Insurance Corp. is suing eight former officers and directors of Habersham Bank over their role in the failure of the Clarkesville, Ga., lender.

Lynn Harton, formerly president of The South Financial Group before it was sold several years ago, was promoted to president of United Community Bank in Georgia this week.

Synovus Financial (SNV) in Columbus, Ga., reported lower quarterly earnings because of a decline in mortgage banking revenue and a litigation-related charge.

Two private banks in Georgia skillfully used a state process meant to protect the interests of everyday investors to hasten consideration of their merger application. Some other states have similar laws.

SouthCrest Financial Group (SCSG) in Peachtree City, Ga., has received regulatory approval to merge its four banks into a single charter operating under the name SouthCrest Bank.

A former bank director accused of spearheading a massive investment scheme was arrested after a year and a half on the lam.

The Columbus, Ga., company has overcome a series of challenges since 2008, yet it will face more in the coming year. CEO Kessel Stelling, in a Q&A, addresses questions about how it will boost revenue and profits.

Buoyed by its success on the West Coast, Operation Hope is partnering with the likes of SunTrust and Popular Community Bank to set up its financial literacy centers in such cities as Memphis, Atlanta, Washington and New York.

Ocwen Financial (OCN) will pay $2.1 billion to settle allegations of misconduct in its mortgage servicing and foreclosure practices.

Ocwen Financial (OCN) is preparing to pay $2.1 billion to settle allegations of misconduct in its servicing practices, according to a report in the Wall Street Journal.

State Bank Financial CEO Joe Evans has hired an ex-colleague, fund manager David Brown, to help lead the next stage of the Atlanta bank's M&A strategy.

NCR Corp. will install more than 2,000 NCR ATMs for the Royal Bank of Scotland (RBS) in the U.K.

The former president and chief executive of a failed bank in Savannah, Ga., has pleaded guilty to a conspiracy charge in a loan-fraud scheme.

The Treasury Department plans to auction seven more lenders' Troubled Asset Relief Program shares, with a total face value of about $90 million.

SouthCrest Financial Group (SCSG) in Peachtree City, Ga., has raised nearly $18 million and plans to merge its banks.

Synovus Financial (SNV) reported a big increase in quarterly income, but missed estimates as interest income and mortgage banking revenue fell.

SunTrust Banks (STL) in Atlanta reported lower quarterly earnings after it agreed to settle claims over various mortgage-related practices.