Community Central Bank Corp. in Mount Clemens, Mich., said Thursday that it had raised $2.7 million in fresh capital. The investment was made through a private placement involving local investors who bought convertible perpetual preferred stock.

Regulators, with their reputations on the line and anxiety about the future, are forcing some banks to hold on to much of the capital. In recent months, some banks that wanted to fully repay the Troubled Asset Relief Program were allowed to return a fraction.

LOWER BURRELL, Penn. – A-K Valley FCU said its board has decided to close its Homewood branch after the outlet, robbed four times in the past two years, was burgled on New Year’s Day.

ST. PAUL, Minn. – Affinity Plus FCU said it is renovating a former Starbucks location in Hasting into a new branch.

RALEIGH, N.C. – Coastal FCU, hit hard by the state’s recession, announced yesterday plans to shutter four branches as part of an effort to refocus on its core operations in the Raleigh market.

The Federal Deposit Insurance Corp. plans to issue a proposal Tuesday that would add specific types of compensation programs to the list of risk factors that determine a bank's assessment rate, according to sources.

The question of long-term viability is what gets progressive managers looking at the bank charter. And, access to the capital markets may be critically linked to viability.

The failure of our leaders to communicate the true nature of the CPP, and the media's mischaracterization of it, did severe and unnecessary damage to confidence in our nation's banking industry.

The Federal Trade Commission has concluded a case against collection agency Academy Collection Service Inc. (ACS) and alleged Fair Debt Collection Practices Act (FDCPA) violations by imposing civil penalties totaling $675,000 against Albert S. Bastian and Keith L. Hurt III.

Lawsuits citing alleged Fair Debt Collection Practices Act (FDCPA) violations reached an all-time mark in 2009 at 8,287, easily topping the record of 5,188 set a year earlier, according to data from U.S. District Court complaint dockets.

Financial services companies currently face the highest card default and charge-off rates in more than 20 years, and uncollected debt is expected to grow through the end of 2009. As debt rises and internal resources shrink, the job of collections increasingly falls to customer care.

Losses on commercial real estate loans pose the biggest risk to U.S. banks this year, troubling smaller lenders while unlikely to threaten the entire financial system.

Imagine trying to persuade regulators to let a Michigan de novo expand by eight times the goal of its initial business plan on the eve of the economic meltdown.

E-mail Darren Waggoner at darren.waggoner@sourcemedia.com to comment on this developing story.

CALEDONIA TOWNSHIP, Mich. – Security CU will open its 12th branch today in the building that formerly housed Cruisers Auto Wash.

BADEN, Penn. – Ambridge Area FCU has opened a student branch in Ambridge Area High School.

The $1.2 billion-asset company said Tuesday in a filing with the Securities and Exchange Commission that it exchanged $1.1 million of fixed-rate subordinated notes for 2.2 million shares of common stock in a deal with seven investors, including one board member.

Upon disclosing its third and largest branch deal Tuesday, Amcore Financial Inc. made another announcement: its capital ratios are finally headed in the right direction.