Pacific Capital Bancorp Inc. plans to sell its tax division — its most profitable line — after regulators blocked the company from making new tax loans in the coming year.

In letters commenting on the Fed's proposed compensation guidance, community bankers argue they did not pay the exorbitant bonuses that have fueled widespread anger at Wall Street and do not have the resources to review their pay programs as thoroughly as the central bank would like.

First Chester County Corp. executives have decided that selling the bank at a steep discount to another Pennsylvania company is a better option than remaining an independent, struggling institution.

Unable to gain timely regulatory approval, Metro Bancorp Inc. has again delayed its acquisition of Republic First Bancorp Inc. in Philadelphia.

Regulators ordered Santa Barbara Bank & Trust to stop making refund anticipation loans through Jackson Hewitt, causing the tax-services company's shares to tumble.

Cascade Bancorp said Wednesday night that it planned to withdraw a stock offering meant to raise at least $93 million.

A recent failed-bank deal has handed the FDIC an opportunity to play the stock market — something the regulator will probably do more of in the coming year.

A recent failed-bank deal has handed the Federal Deposit Insurance Corp. an opportunity to play the stock market — something the regulator will probably do more of in the coming year.

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Royal Bancshares of Pennsylvania announced it has terminated an agreement to sell its Royal Asian Bank unit to a group of investors.

The main culprit in last week's demise of Independent Bankers' Bank in Springfield, Ill., was not an ailing loan portfolio but poorly performing investments in other banks.

While banks and government agencies are increasing efforts to save troubled home loans, the attempts thus far have not slowed a rise in foreclosures, according to a report released this week by the Offices of Thrift Supervision (OTS) and Comptroller of the Currency (OCC).

President Obama is due to meet today with 11 chief executives of community banks, following up on a meeting with the heads of larger institutions last week.

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Shares of Amcore Financial in Rockford, Ill., rose Monday on roughly four times their average volume, extending a rally that began after the banking company amended a credit facility.

City National Corp. in Los Angeles expanded its asset size by roughly 5% last weekend in its largest deal to date by acquiring the failed Imperial Capital Bank in La Jolla, Calif.

Patriot National Bancorp Inc., in recently sizing up two suitors, ultimately chose a creative option that will reward shareholders based on future results rather than a rival deal providing a higher up-front share price.

The Education Department has released new data on the percentage of students at more than 5,000 colleges and universities who defaulted on student loans over a three-year period.

SEATTLE-The $8.7-million Express Credit CU made a radical change earlier this year in an effort to survive, and so far the move is paying off, according to its CEO.

Banner Corp. in Walla Walla, Wash., terminated a common stock offering Friday, citing "current market conditions."