New York

Bank of America, the second-biggest U.S. lender by assets, said profit declined 13% on a drop in trading and underwriting revenue and a 30% increase in provisions for credit losses, mostly tied to souring energy loans.

Financial Institutions in Warsaw, N.Y., has offered an olive branch to resolve a proxy battle with an activist investor.

Noah Bank in in Elkins Park, Pa., has sued NOA Bank in Duluth, Ga., in a dispute between two Korean-American banks over trademarks and competitive intelligence.

Financial Institutions in Warsaw, N.Y., is facing a proxy battle from an activist investor intent on taking two board seats.

Amalgamated Bank in New York has recruited a former American Express executive to develop its online banking platform and has created a new position to oversee corporate philanthropy.

Apple Bank for Savings in Manhasset, N.Y., said Thursday that Chief Operating Officer Steven Bush is taking over as chairman, president and CEO from Alan Shamoon, who is retiring.

State Street has agreed to buy General Electric's asset management unit for as much as $485 million.

A former staff attorney with New York's city government has been named the top lawyer for the New York State Department of Financial Services.

A program recently started in New York helps entrepreneurs improve their business plans and cash flow before sending them to a bank. The nonprofit lender behind the program, meanwhile, hopes to boost small-business borrowers' credit scores and lower their rates.

Sterling Bancorp in Montebello, N.Y., plans to raise $105 million in a debt sale to fuel potential acquisitions of commercial lenders.