New York

Intervest Bancshares Corp. in New York on Tuesday posted a narrow fourth-quarter profit, reversing a recent trend of losses.

Though it's the big banks that are working with energy companies, smaller institutions still expect huge opportunities, some risks aside, to serve ancillary businesses and consumers.

The Federal Reserve Board reached written agreements with five community banks Thursday.

Berkshire Hills Bancorp in Pittsfield, Mass., has agreed to pay $108 million for hometown rival Legacy Bancorp.

Shareholders of First Niagara Financial Group Inc. and NewAlliance Bancshares Monday overwhelmingly approved their merger agreement despite strong disapproval from Connecticut officials.

Gouverneur Bancorp Inc. in New York said Friday that net income rose 28.8% in fiscal 2010. The $147 million-asset company earned $1.6 million in the year that ended Sept. 30, or 74 cents a share, compared with $1.3 million, or 56 cents a share, in the previous fiscal year. Total assets rose 2.2%, to $147 million.

People's United Financial Inc.'s acquisition of Smithtown Bancorp Inc. in Hauppauge, N.Y., is set to close Nov. 30.

Herald National Bank has turned a profit less than two years after being started at the height of the financial crisis.

Community Bank System Inc. of DeWitt, N.Y., which has been quiet in mergers and acquisitions the past few years, has reverted to form with its most expensive deal to date.

First Niagara Financial Group Inc. in Buffalo, N.Y., said Thursday that its third-quarter earnings quadrupled from a year earlier, to $45.6 million, aided by two Pennsylvania acquisitions.

New York State is instituting new filing requirements to ensure the integrity of the home foreclosure process, the state's chief judge said Wednesday.

Peyton Patterson, the CEO of NewAlliance Bancshares, announced she will leave the company after it is acquired by First Niagara Financial early next year.

Intervest Bancshares Corp. in New York reported a $661,000 net loss for the third quarter, compared with net income of $342,000 a year earlier.

Berkshire Hills Bancorp has agreed to acquire Rome Bancorp for about $74 million in cash and stock, as the Massachusetts bank looks to grow its presence in New York.

Speaking with American Banker, First Niagara CEO John Koelmel offered a conservative outlook on the M&A market, his thoughts on prudent growth and a critique of financial reform.

In the months leading up to its deal with First Niagara Financial Group, NewAlliance Bancshares Inc. entertained an offer from another suitor, while continuing to woo a potential acquisition target.

Carver Bancorp Inc., owner of the nation's largest African- and Caribbean American-run bank, reduced the dividend rate it pays to the government by shifting to another federal program.

Eight months after calling off a deal to buy Royal Asian Bank, Edward Shin, the bank's CEO, is back with a new deal, crediting perseverance and a grassroots approach.

Madison National Bancorp Inc. of Hauppauge, N.Y. swung from a first-quarter net loss to net income of $208,303 in the second quarter.

Capitol Bancorp Ltd. has completed another divestiture — this time of its 51% stake in the $64 million-asset USNY Bank in Geneva, N.Y.