Despite shrinking assets by a fifth in 2009, Saehan Bancorp in Los Angeles reported that its bank unit was significantly undercapitalized at the end of the fourth quarter.

OKLAHOMA CITY – WEOKIE CU plans to break ground next month on a new, 22,000-square-foot operations center that will house the credit union’s mortgage servicing, accounting, collections, marketing and call center.

For even the healthiest of community banks looking to buy a failed peer, wishing won't necessarily make it so. Community banks face a fair number of obstacles, observers say. They must prove to skeptical regulators that they're qualified, have enough staff and expertise to beat out bigger rivals, and be able to afford prices that are rising due to competition from private equity firms.

With chargeoffs historically high, debt volumes up and liquidation rates down, choosing whether to invest in technology or stand pat has taken on grave importance.

Asset Acquisition Group LLC, a debt buyer in Denver, purchased a $240 million loan portfolio from a large national bank. It is one of the largest purchases for the company since it opened in 1992, according to Donna J. Meier, president and chief executive, who added that the deal is part of an "amplified acquisition plan for 2010."

The Treasury Department said Friday that Monarch Financial Holdings Inc. repurchased $260,000 in stock warrants, clearing the company's slate with the government.

LAKELAND, Fla. – MidFlorida FCU has agreed to renovate the 90-year-old federal building here.

The National Credit Union Administration has designated Cleveland as an area underserved by financial institutions, allowing a credit union there to expand its pool of potential members citywide.

KINGSTON, N.Y.-A novel technology has brought 24/7 full-service banking to Mid-Hudson Valley FCU, helped attract hundreds of new members in 2009-at no net cost.

Despite lower credit costs, MutualFirst Financial Inc. in Muncie, Ind., returned to the red last quarter because of higher impairment charges on its securities.

Cornerstone Bank in York, Neb., has agreed to buy Harvard State Bank, also in Nebraska, for an undisclosed sum.

Bank of Commerce Holdings in Redding, Calif., is looking to join the ranks of companies raising capital for possible acquisitions.

For the New York bank, 2009 — its first year — was one for the record books. While many other community banks were tempering growth or even shrinking, the $433 million-asset start-up grew faster in its first year than had almost any other U.S. bank established over the past decade.

Is Herald National Bank flying too close to the sun? For the New York bank, 2009 — its first year — was one for the record books. While many other community banks were tempering growth or even shrinking, the $433 million-asset start-up grew faster in its first year than had almost any other U.S. bank established over the past decade.

Portfolio Recovery Associates Inc., a Norfolk, Va. debt buyer, today reported cash collections rose 20% to a record $95.3 million in the fourth quarter ended Dec. 31, up from $79.2 million in the year-ago period.

MIDWEST

TierOne Corp. in Lincoln, Neb., got a new chief executive and struck a deal to sell nearly half its branches, but remains under the gun to raise a relatively large amount of capital.

The credit crisis is creating new opportunities for collection shops to play a larger role in the success of a company. It also creates an imperative for management to foster excellence.

For the third consecutive month, the Credit Manager's Index is signaling that the recession is over and the economy is expanding, according to a report by the National Association of Credit Management (NACM).

Illinois Attorney General Lisa Madigan today filed four lawsuits against seven debt settlement firms, alleging they are misrepresenting the services they provide to consumers and the impact those services will have on credit ratings. Six executives with the companies also are named as defendants.