The $1.2 billion-asset company has redeemed the $10.9 million of preferred shares held by the U.S. Treasury Department, plus accrued dividends.

Two of central Maryland's oldest community banks have agreed to merge and reorganize under a new name.

The New York firm on Thursday sold 3 million voting shares in the $9.4 billion-asset United Community to Morgan Stanley, which acted as the sole underwriter on the offering.

First Resource Bank in Exton, Pa., has redeemed most of its Small Business Lending Fund preferred shares.

HMN Financial in Rochester, Minn., has agreed to buy a branch from Deerwood Bank in Deerwood, Minn.

County Bancorp in Manitowoc, Wis., has agreed to buy Fox River Valley Bancorp in Appleton, Wis., for about $29 million.

First Bancshares in Hattiesburg, Miss., has agreed to buy Mortgage Connection in Jackson, Miss.

California regulators have approved a request from private-equity firm Carpenter & Co. to raise capital for a new state-chartered bank.

Avidbank Holdings in Palo Alto, Calif., has raised $12 million through a private placement of debt.

More banks are looking to buy commercial loans for reasons ranging from a dearth of organic opportunities to a need to diversify their asset mix. That surge in demand is creating an imbalance that benefits banks that have been able to make more loans.

Rick Keller, chairman at First Foundation, Inc. in Irvine, Calif., discusses the company's recent initial public offering.

TotalBank in Miami has terminated 58 employees in operating and commercial job functions, after it upgraded its technology.

LegacyTexas Financial Group in Plano will issue $75 million in subordinated debt for potential acquisitions and other uses.

First South Bancorp in Washington, N.C., will close three branches as part of a larger branch-restructuring plan.

The private equity firm founded by Eugene Ludwig has sold about 6% of its stake in Seacoast Banking Corp. of Florida for $7.3 million.

Entegra Financial in Franklin, N.C., has adopted a plan to preserve the value of about $12.2 million deferred tax assets.

Private-equity investors in Opus Bank in Irvine, Calif., are cashing in some of their chips.

Farmers Capital Bank in Frankfort, Ky., has hired a business lawyer as chief operating officer.

Springleaf Holdings has changed its name to OneMain Holdings after buying its top competitor from Citigroup for $4.49 billion.

Huntington Bancshares in Columbus, Ohio, has agreed to sell its fund-servicing business, Huntington Asset Services, to Ultimus Fund Solutions, a provider of back-office and other services for small and midsize advisers.