Texas

A federal appeals court has dealt the retail sector a setback in the ongoing fight over surcharges on credit card purchases.

Comerica in Dallas reported lower third-quarter profit that reflected higher expenses. The $71 billion-asset company said in a press release Friday that its net income fell 12% from a year earlier, to $134 million, or 74 cents a share.

Cullen/Frost Bankers will consolidate about 175 employees at a new office tower in Fort Worth, Texas, for which it will also be the anchor tenant.

Turmoil in energy markets significantly influenced the sale of Tradition Bancshares in Houston.

Allegiance Bancshares expects to raise about $54.6 million in its initial public offering, as the Houston company priced the offering more than two years after expressing interest in going public.

Mechanics Bank in Walnut Creek, Calif., has named three senior financial executives, about five months after a Dallas investment group acquired a majority stake.

USAA will shift about 120 positions in its mortgage operations from an office near Dallas to offices in Tampa, Fla., and Phoenix.

Cash America International, a payday lender in Fort Worth, Texas, has named Brent Stuart chief executive.

Pinnacle Bancorp in Central City, Neb., has agreed to buy Woodhaven National Bank in Fort Worth, Texas.

Alliance Data Systems has agreed to work with Toyota on a new line of private-label credit cards and to manage the Japanese automaker's existing co-branded card program.

Texas Capital Bancshares in Dallas plans to hire 100 people for its new mortgage correspondent aggregation business line.

Banks are seeing steady growth in consumer loan demand nationwide, particularly in auto loans and mortgages, according to a report released Wednesday by the Federal Reserve Board.

Comerica has named Peter Sefzik market president for Texas, effective immediately. Sefzik succeeded Patrick Faubion, who was promoted to executive vice president of Comerica's Business Bank in July.

The Federal Reserve Bank of Dallas has named Robert Steven Kaplan, a Harvard Business School professor, as its new president and chief executive officer.

Pioneer Bancshares in Dripping Springs, Texas, has struck a deal to merge with FC Holdings, the parent company of First Community Bank in Sugar Land, Texas.

Prosperity Bancshares in Houston has ended a short, self-imposed break from acquisitions, agreeing to buy Tradition Bancshares in Houston.

Santander Consumer USA Holdings in Dallas reported higher profits due to a spike in gains on loan sales.

TDECU said its successful merger with Dallas-based Texas Catholic Community Credit Union is the "most recent step" in its expansion plans.

Independent Bank Group in McKinney, Texas, has agreed to buy Grand Bank in Dallas for $80.1 million.

Texas Capital Bancshares in Dallas reported a higher second-quarter profit, citing increased lending and a boost in the number of loans held for investment.