Washington

Despite analysts' skepticism, it appears Banner Corp. of Walla Walla, Wash., is advancing in its attempts to raise capital. The $4.6 billion-asset company announced late last week that it would sell 75 million shares of common stock at $2 a share.

Federal regulators have ordered Cowlitz Bancorp of Longview, Wash., to raise capital or accept a sales offer by July 15, the company said Tuesday in a filing with the Securities and Exchange Commission.

Fortune Bank in Seattle said Thursday that it plans to sell up to $460 million in stock through an initial public offering.

After flying under the radar for much of the recession, the Pacific Northwest has been hit with a string of failures — and more choppiness lies ahead.

Nevada saw its third failure of the year late Friday, with the collapse of $480 million-asset Nevada Security Bank in Reno.

The $4.3 billion-asset company is seeking twice as much money as it did in December, when it came to the market to raise $75 million but couldn't drum up enough interest to complete the offering.

WASHINGTON — While it has seemingly become routine for several banks to fail every week, only one institution was closed late Friday, $521 million-asset Washington First International Bank in Seattle.

Sterling Financial Corp. in Spokane announced Wednesday that the Treasury Department has approved the two lead investors in its recapitalization effort.

Independence Federal Savings Bank in Washington has called off its acquisition of Colombo Bank in Rockville, Md., after an indication from regulators that the deal had been delayed indefinitely.

Less than a week after making a deal with a private-equity firm and the Treasury Department, Sterling Financial Corp. in Spokane announced it is raising $555 million in capital through private placements with several investors.

Columbia Banking System Inc. of Tacoma said it plans to sell $208.8 million of common shares to bolster its already-fat capital ratios.

There's a new wrinkle in the latest round of recapitalizations: The only way for the banks involved to win is for taxpayers to lose.

WASHINGTON — TD Bank of Wilmington, Del., purchased three separate failed banks in Florida late Friday, totaling $3.9 billion in assets, on a night that saw a total of eight bank collapses.

WASHINGTON — TD Bank of Wilmington, Del., purchased three separate failed banks in Florida late Friday, totaling $3.9 billion in assets, on a night that saw a total of eight bank collapses.

Charter Bank in Bellevue, Wash., is changing its name to better reflect its mission of serving high-net-worth individuals and their businesses.

The president of Frontier Financial Corp.'s bank unit said he was fired for trying to use vacation time.

When Pacific Continental says it is going to be picky, it has credibility. After all, the $1.1 billion-asset company in Eugene, Ore., has made only one acquisition since 1972.

The Federal Deposit Insurance Corp. has issued a prompt corrective action order against Frontier Bank of Everett, Wash., giving it until April 15 to merge with another institution or sell shares or obligations to become at least "adequately capitalized."

In recent weeks some bank stocks have been delisted for failing to meet the market's $1 minimum bid price requirement, and as Nasdaq cracks down, other banks are choosing to delist voluntarily before they get kicked out.

State regulators shut two banks on Friday, bringing the year's total failures to 22. The failures are expected to cost the Deposit Insurance Fund $103.1 million.