Virginia

Union Bankshares is poised to become a nearly $12 billion-asset bank in a state that lost most of its midsize institutions in the 1990s and early 2000s.

The $701 million acquisition will make Union the biggest community bank based in Virginia.

The $489 million acquisition is among the ten biggest bank M&A deals announced this year.

The federal regulator has created a new portal offering training courses and other information for free.

Second settlement of the week pushes recoveries by the regulator from MBS suits to $5.1 billion.

Regulator now has recovered nearly $4.8 billion in various suits related to the mortgage meltdown in 2008.

The acquisition will provide South State with more than $3 billion in assets and a larger operation in North Carolina.

TowneBank's acquisition of Paragon Commercial Bank would give it access to several North Carolina markets.

The regulator also provided updates on investment performance, expenses, CAMEL codes and more.

Carter, who built what became Carter Bank and Trust from the ground up, was praised for his “uncanny” credit acumen, devotion to community and family, and willingness to take unconventional risks.

The Electronic Payments Association announced the election of new officers to its board of directors.

No CUs with assets of more than $250 million were subject to civil monetary penalties for filing late Call Reports.

The $227 million Valor Federal Credit Union lost more than $2.2 million in 2016 prior to its acquisition by the $21 billion Pentagon Federal Credit Union.

Merger will give PenFed a retail presence in the competitive San Diego marketplace.

The company recently received Fed approval to increase its ownership in Carter to 9%.

First Community Bancshares in Bluefield, Va., spent $15.5 million to buy back the securities.

Banks are grappling with new challenges in trying to work with voice assistants like Alexa in Amazon's Echo to allow customers to check balances and perform other tasks. But with voice banking on the horizon, banks cannot afford to stall their efforts.

F&M Bank Corp. in Timberville, Va., has acquired Valley Southern Title in Harrisonburg, Va.

Southern National Bancorp of Virginia in McLean has agreed to buy Eastern Virginia Bankshares in Glen Allen for $178.3 million.

Union Bankshares in Richmond, Va., has sold $150 million in subordinated notes. The $8.2 billion-asset company said in a press release Monday that the notes will initially bear an annual fixed interest rate of 5%.