Washington

The $890 million-asset company exceeded its goal of raising $15 million after it received investments from local shareholders in addition to institutional investors, according to a press release Wednesday.

The Federal Reserve Board has announced the termination of regulatory orders with four lenders Thursday: FNB United (now named CommunityOne Bancorp), Highland Bancshares, National Consumer Cooperative Bank and NCB Financial.

Heritage Financial (HFWA) in Olympia, Wash., has agreed to buy Washington Banking (WBCO) in Oak Harbor. Heritage will pay about $265 million in cash and stock for Washington Banking, the companies said Wednesday.

Bank of Georgetown hired Jeffrey Satterly to launch a unit that lends to federal contractors. But the shutdown could wreak havoc.

Bank mergers, failures and charter consolidations are cutting into the exam fees that provide the financial lifeblood for regulators in Idaho, Montana and other states. Their attempts to balance the budget can cause small banks to pay higher fees.

Home Federal Bancorp was looking for ways to grow its earning assets as the benefits of FDIC loss shares from two failed-bank deals faded. Lacking good prospects, it decided to sell itself to Banner Corp. More banks could find themselves in the same boat.

Pacific Continentalin Eugene, Ore., has named a new head for its operations around Seattle.

The $4.24 billion-asset Banner said Tuesday it has agreed to buy Home Federal Bancorp (HOME) in Nampa, Idaho, for $197 million in cash and stock.

Sterling Financial in Spokane, Wash., has gone ahead with rebranding its California operations as Argent Bank despite its recent merger announcement.

TD Bank is content with its branch network along the East Coast and, for now, is not interested in deals that would take it into new markets, according to its chief financial officer.

Umpqua Holdings in Portland, Ore., and Sterling Financial in Spokane, Wash., have set a $75 million penalty for terminating their planned merger.

The acquisition-minded Heritage Financial and Washington Banking are said to be seeking targets to nearly double their size, motivated in part by the recent Umpqua-Sterling deal.

Baker Boyer Bank in Walla Walla, Wash., has promoted its wealth management division manager to become president and chief investment officer.

Umpqua Holdings' agreement to buy Sterling Financial is the latest in a series of deals this year to pair similarly sized banks, creating a new crop of midsize financial institutions.

Umpqua Holdings (UMPQ) in Portland, Ore., has agreed to buy Sterling Financial (STSA) in Spokane, Wash.

Umpqua Holdings, Oregon's biggest bank, is in advanced talks to buy Sterling Financial, the lender backed by Warburg Pincus and Thomas H. Lee Partners, said people with knowledge of the discussions.

First Financial Northwest in Washington ousted a longtime CEO, while HopFed Bancorp in Kentucky seated an outsider on its board and canceled an acquisition, under pressure from activist shareholders. More banks can expect similar fights.

Independence Federal Savings Bank (IFSB) in Washington, D.C., is taking a second shot at buying Colombo Bancshares in Rockville, Md., three years after the companies called off plans to merge.

The Spokane, Wash., bank could not rename its two retail operations in California "Sterling" because of legal matters, so executives turned to their French-English dictionary for a unique substitute: "Argent."

The $902 million-asset company said Friday that it plans to shut down First Financial Diversified, which provides escrow services to First Financial and other customers.