Brandon Steele knows how to process crude oil, sew duffle bags and raise cattle. But being chairman of a community bank is a new one for this serial business owner.

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Webster Financial Corp. in Waterbury, Conn.,is raising capital to pay off the balance of the Treasury Department's investment under the Troubled Asset Relief Program.

Central Pacific Financial Corp. in Honolulu said Monday that it renegotiated its stock conversion rate with the Treasury Department related to its $135 million in Troubled Asset Relief Program funds.

When Cordia Bancorp formed in 2009, the plan was to acquire a shelf charter to bid on failed banks. With the market moving faster than regulators, that strategy has been ditched.

Shareholders of First Niagara Financial Group Inc. and NewAlliance Bancshares Monday overwhelmingly approved their merger agreement despite strong disapproval from Connecticut officials.

EL SERENO, Calif.-The marriage of a coffee shop with a branch of Cal State L.A. FCU is percolating just fine, according to the CU.

Hudson City Bancorp Inc., one of the largest residential lenders in the mid-Atlantic area, on Friday pulled the plug on a plan to move to a commercial bank from a thrift holding company.

Encore Bancshares in Houston said Friday that it had received regulatory approval to sell certain operations in Florida to Ovation Holdings Inc.

Pinnacle Bankshares Corp. in Altavista, Va., said Friday that it is looking for a new president and chief executive. The $334.7 million-asset company said in a filing with the Securities and Exchange Commission that Robert H. Gilliam Jr. plans to retire from the company and its First National Bank unit "in a midyear 2011 time frame."

Shareholders of Capital Bank Corp. have approved the sale of a majority stake in the Raleigh, N.C., company to North American Financial Holdings Inc.

Steele Holdings Inc. said Friday that it had bought American State Bank in Arp, Texas. Steele, a private company based in Tyler, Texas, paid an undisclosed amount of cash for the $220.2 million-asset bank.

PAB Bankshares Inc. has announced that it received a prompt corrective action directive from the Federal Reserve due to the "significantly undercapitalized" status of its Park Avenue Bank.

It was another busy — and costly — night for regulators in the Southeast. Of the nation's six failures Friday — bringing the year's total to 157 — three were in Georgia and one was in Florida, continuing the onslaught the two states have suffered in the crisis.

With the Office of the Comptroller of the Currency slated to absorb the Office of Thrift Supervision next summer, the future of the personalized interest rate risk assessment that the OTS supplied quarterly to thrifts remains undetermined.

It was another busy — and costly — night for regulators in the Southeast. Of the nation's six failures Friday — bringing the year's total to 157 — three were in Georgia and one was in Florida, continuing the onslaught the two states have suffered in the crisis.

With the OCC slated to absorb the OTS next summer, the future of the personalized interest rate risk assessment that the OTS supplied quarterly to thrifts remains undetermined.

Bank of Montreal said it is buying Marshall & Ilsley in a share swap valued at $4.1 billion, making a long-anticipated move to expand its operations in the U.S.

Bloodied but unbowed, the Florida banking market is poised for a rebound, but only a handful of in-state banks have the capital to take advantage of one.

The board of the National Credit Union Administration on Thursday approved a rule raising financial literacy standards for credit union directors.