The Federal Reserve said Thursday it has taken enforcement action against California's Tamalpais Bancorp in an effort to ensure that it maintains sufficient capital.

WASHINGTON — In an unusual congressional hearing, regulators were essentially put on trial Thursday for having closed a Chicago-based chain of community banks last fall.

SOUTHEAST

Sterling Bancshares Inc. in Houston reported Thursday that it returned to profitability in the fourth quarter, after a sharp loss in the third quarter.

Valley National Bancorp announced Thursday that it is slowing de novo branch expansion in New Jersey and New York as it sees the opportunity to expand through acquisition.

First Niagara Financial Group Inc.'s acquisition of a western Pennsylvania branch network from PNC Financial Services Group Inc. is working out better than it had expected.

An estimated 260 different collection agencies and creditors were named in 396 consumer statute lawsuits filed nationwide between Jan. 1 and Jan. 15, according to data from U.S. District Court complaint dockets compiled by research firm WebRecon LLC.

Weinstock, Friedman & Friedman P.A. in Baltimore, a large legal collection firm, is reviewing “huge volumes” of former Mann Bracken cases that were dismissed last week by Maryland District Court Chief Judge Ben Clyburn, Sidney S. Friedman, a managing partner at Weinstock, Friedman & Friedman, tells Collections & Credit Risk.

The Federal Reserve said Thursday it has taken enforcement action against California-based Tamalpais Bancorp in an effort to ensure the bank maintains sufficient capital.

Wells Fargo & Co. yesterday reported a fourth-quarter profit of nearly $3 billion, but said chargeoffs also crept higher during the period. Chargeoffs totaled $5.4 billion, or 2.71% of average loans, up from $5.1 billion, or 2.5% of average loans, in the third quarter.

Now with a war chest of capital, a clean balance sheet and willing management, Hancock Holding is primed to take advantage of down-cycle opportunities and is actively seeking acquisitions in Florida.

Prosperity Bancshares Inc. in Houston is set to pick up Texas branches that were once owned by FBOP Corp.

The Federal Deposit Insurance Corp. has opened a temporary satellite office near Chicago that will house up to 500 non-permanent staff members.

A mortgage broker who allegedly dumped 40 boxes of consumers’ financial records into a public trash bin paid a $35,000 civil penalty to settle Federal Trade Commission charges that he violated the Fair Credit Reporting Act, the FTC's Bureau of Consumer Protection office said today.

Shares of Hanmi Financial Corp. have soared this week following reports in the Korean media that Woori Finance Holdings Co. is looking to take a large stake in the company through a potential equity investment.

The Federal Reserve announced enforcement actions Tuesday against Bank of Virginia.

The Federal Reserve issued enforcement actions Tuesday against Community Financial Holding Co., a registered bank holding company in Duluth, Ga.

Its numbers are still a bit wanting, but Washington Federal Inc. is distinguishing itself from the pack of recession-hit also-rans in the beleaguered Pacific Northwest.

Mercantile Bank Corp. in Grand Rapids reported Tuesday that it swung to a fourth-quarter loss of $26.4 million, from a profit of $300,000 a year earlier.