Pennsylvania

After putting its initial public offering plans on ice, Customers Bancorp in Wyomissing, Pa., has placed $270 million of its investment portfolio on the auction block.

Jay Sidhu says Customers Bancorp, a Wyomissing, Pa., company could also revisit its now-delayed IPO by the end of the year.

The bank, led by ex-Sovereign chief Jay Sidhu, cited uncertain market conditions.

Orrstown Financial Services said Tuesday that shareholders voted in support of management's compensation, though they also voted to eliminate supermajority voting.

Fulton Financial in Lancaster, Pa., is planning to open six new branches in 2012 and will renovate five others as part of a broader effort to make its branches more inviting and free up staff to better interact with customers.

Shares of S&T Bancorp (STBA) fell sharply Monday after the Indiana, Pa., company reported first-quarter earnings that missed estimates by a wide margin.

Fulton Financial (FULT) in Lancaster, Pa., said Tuesday that its first-quarter earnings climbed nearly 13% from the same period last year, to $38.1 million, as strong refinancing activity, improved asset quality and sharply lower funding costs more than offset sluggish commercial loan growth.

CNB Financial (CCNE) of Clearfield, Pa., reported first-quarter income of $4.3 million, up almost 33% from a year earlier, as net interest income and total loans rose.

The former chairman and chief executive at Citizens Republic Bancorp in Flint, Mich., has been elected lead independent director at Royal Bancshares of Pennsylvania.

Fulton Financial Corp. has promoted an insider to replace R. Scott Smith Jr., who announced plans to retire from the Lancaster, Pa., company at the end of this year.

Orrstown Financial Services Inc. in Shippensburg, Pa., said it expects to reach formal agreements with regulators that could require it to strengthen its credit risk management practices.

Coming off its fourth-straight money-losing year, United Bank of Philadelphia is under orders from state and federal regulators to clean up its loan portfolio, improve its capital ratios and submit to regulators a detailed plan for returning to profitability.

Fox Chase Bancorp Inc. in Hatboro, Pa., said the planned sale of a pool of problem consumer loans has fallen through and that, as a result, its total nonperforming assets were higher in the fourth quarter than it initially reported.

First Commonwealth Financial Corp. in Indiana, Pa., has named T. Michael Price as its president and chief executive.

The Federal Deposit Insurance Corp. Thursday will announce the claims process for thrift shareholders who last year won a breach-of-contract case stemming from the savings-and-loan crisis.

VIST Financial Corp. in Wyomissing, Pa., said after markets closed Thursday that it lost $24.6 million in the fourth quarter after it wrote down $25 million of goodwill in connection with its pending sale to Tompkins Financial Corp. of Ithaca, N.Y.

Commercial National Corp. in Latrobe, Pa., said Tuesday that its fourth-quarter net income climbed 44% from the same period in 2010, to $1.2 million, as lower funding costs and increased income from investments more than offset a decline in loan balances.

Fueled by solid loan growth and sharply lower funding costs, CNB Financial Corp. in Clearfield, Pa., said Thursday that net income in the fourth quarter climbed 32% from the same period in 2010, to $3.9 million.

Susquehanna Bancshares Inc. in Lititz, Pa., reported Wednesday that its fourth-quarter earnings nearly doubled from a year earlier, to $19.1 million, on improvements in areas such as lending, fee income and a reduction of problem assets.

Northwest Bancshares Inc. in Warren, Pa., said Monday that its fourth-quarter profits climbed 19%, to $15.2 million, from a year earlier as credit quality improved and fee income from trust and insurance services rose.