Michigan

Ally Financial in Detroit has agreed to provide up to $600 million in financial backing for Carvana’s online auto sales.

Chemical CEO David Ramaker has a wide range of options — diversify business lines, expand organically in several Midwestern states, pursue M&A or all of the above — following his recent acquisition of Talmer. But new challenges accompany Chemical's higher profile, too.

Flagstar Bancorp in Troy, Mich., said that the Office of the Comptroller of the Currency has terminated its 2012 consent order with its Flagstar Bank on Monday.

Fentura Financial in Fenton, Mich., is the latest banking company to outline plans to sell common stock.

The combined institution will now serve more than 16,000 members with $142 million in assets.

Some banks are set to get a fourth-quarter earnings boost from their MSR portfolios, thanks to a sudden spike in yields on Treasury bonds. Add to that the prospect of further rate hikes and the potential dismantling of Basel III, and more banks could be encouraged to re-enter the servicing business.

Ally Financial in Detroit has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime residential mortgage-backed securities in 2006 and 2007.

Can banks outdo online lending startups in head-to-head competition? We're about to find out. Goldman Sachs, Wells Fargo and Quicken have all entered the digital lending business, putting early entrants on the defensive.

Ally Financial, one of the nation's largest automobile lenders, saw profits fall during the third quarter as more motorists fell behind on their car payments.

Flagstar Bancorp's quarterly profit increased after a decline in the value of a 2012 legal settlement liability tied to its mortgage lending practices.

Mercantile Bank Corp. in Grand Rapids, Mich., announced several promotions that underscore a heightened focus on loan growth.

Banks are dumping their mortgage servicing rights because low rates and new rules make it hard to earn a profit. SunTrust, Flagstar and First South Bancorp in North Carolina are taking the opposite view.

Groups in North Carolina, Pennsylvania and elsewhere are stepping up efforts to create programs and conferences dedicated to younger bankers, including millennials.

Popular with employees: Level One hosts an annual bring-your-dog-to-work day.

New Bancorp in New Buffalo, Mich., has hired Shawna Zawada as controller and principal financial officer, days after Russell Dahl resigned as chief financial officer.

Some branch deals come with added value. A case in point is the $2 billion-asset Old Second Bancorp's agreement to buy a branch in Chicago from Talmer Bancorp in Troy, Mich. in a deal that includes deposits, assets and a vice chairman.

Deposit growth and loan sales gave Flagstar Bancorp's second-quarter profit a lift. The $13.7 billion-asset company said its net income in the three months rose 2.1% to $47 million, or 66 cents a share, compared with last year's second quarter.

Ally Financial in Detroit swung to a profit in the second quarter as a tax benefit outweighed the costs of insurance payouts on hailstorm-damaged vehicles.

Flagstar Bancorp in Troy, Mich., is paying $371 million to put behind it the vestiges of its dealings with the Troubled Asset Relief Program.

Ally Financial has introduced its first credit card, as the online bank continues to add products to complement its staple car loans and online bank.