The Federal Reserve Board said it has reached a written agreement with Westside Banking Co. of University Place, Wash.

Regulators on Wednesday cleared Motion Picture Federal Credit Union to merge into the $80 million-asset Musicians Interguild Credit Union in Hollywood, Calif.

The board of Independent Bank Corp. in Ionia, Mich. is already making plans in advance of its leader's retirement next year.

Blackhawk Bancorp Inc. of Beloit, Wis., reported a 52% increase in fourth-quarter earnings from a year earlier as an improved net interest margin offset higher credit costs.

Southern Community Financial Corp. of Winston-Salem, N.C., said Thursday that its bank has signed a consent order requiring it to reduce problem loans and maintain capital levels.

A Maryland credit union's new venture promises to make enemies out of allies and attract a strange bedfellow — banks.

Broadway Financial Corp. in Los Angeles announced Wednesday that the Treasury Department has agreed to take a 50% haircut on its holdings to help bolster the company's recapitalization efforts.

Yadkin Valley Financial Corp. of Elkin, N.C., said late Tuesday that it had named an insider to become its next president and chief executive.

Vista Bank Texas in Houston has agreed to buy Founders Bank of nearby Sugar Land. The $145.7 million-asset Founders will fold its single branch into the $455.6 million-asset Vista.

Har-Co Maryland Federal Credit Union in Bel Air has notified members and the National Credit Union Administration that it plans to convert to a mutual savings bank. It would become the first conversion in more than two years.

Portfolio Recovery Associates Inc. posted record fourth-quarter revenue while profits soared nearly 70% from a year earlier, the debt buyer and collection agency announced Tuesday.

PENSACOLA, Fla. – Navy FCU is building a 225,000-square-foot, $80 million building, its fourth at the credit union’s giant call center here.

Republic Bancorp Inc. is fighting to keep a right that most other banks have surrendered. The Louisville, Ky., company is preparing to square off against the Federal Deposit Insurance Corp. over refund-anticipation loans, a product that regulators have pressured several other lenders to stop making because it is viewed as predatory.

Ocean Shore said the deal for the parent company of Select Bank would boost its presence in Atlantic County and create a $1 billion-asset bank.

National Penn Bancshares Inc. of Boyertown, Pa., said late Monday that Michael Martin had joined its board as part of a recent capital infusion by Warburg Pincus.

CoBiz Financial Inc. of Denver said late Monday that it would record a $15.6 million valuation allowance for deferred tax assets.

The Federal Reserve Board acted against three banks Tuesday. Bank of Whitman in Colfax, Wash., was hit with a prompt corrective action after the Fed found that the $722.2 million-asset bank was undercapitalized and failed to submit an acceptable capital restoration plan.

"Time for a Separate Regulatory Tier for Small Banks" (Jan. 26) was on the money about the current regulatory environment and how it is impacting community banks and the overall economic recovery (or lack thereof). You have captured, with great accuracy, what community banks are facing.

Quarterly and yearly profits at Encore Capital Group Inc. beat market expectations, helped by a huge jump in gross collections, the debt buyer and collection agency reported Monday.

First Mid-Illinois Bancshares Inc. in Mattoon is raising capital through a private placement to be opportunistic. The $1.5 billion-asset company said Friday that it had subscriptions for $27.5 million of convertible preferred stock from investors, directors, executives, major customers and existing shareholders.