Frontier Financial Corp. of Everett, Wash., is scrambling for capital again, after announcing Monday that its lifesaving deal with a blank-check company had fallen apart.

Frontier Financial and SP Acquisition Holdings terminated their July merger deal after failing to obtain regulatory approvals in time to complete the deal by a Saturday deadline.

Addison Avenue FCU has launched an "Intervention Center" as part of its new campaign that forcefully tells consumers CUs are a better option than banks, as evidenced by the motto "Friends Don't Let Friends Use Big Banks."

State and federal regulators shut three banks late Friday — $538 million-asset Warren Bank in Michigan, $56.3 million-asset Jennings State Bank of Spring Grove, Minnesota and $39.5 million-asset Southern Colorado National Bank in Pueblo — bringing this year's failure total to 98.

For the industry's entrepreneurs, buying a small depository, rather than building one from scratch, has gone from the exception to the rule.

State and federal regulators shut three banks late Friday — $538 million-asset Warren Bank in Michigan, $56.3 million-asset Jennings State Bank of Spring Grove, Minnesota and $39.5 million-asset Southern Colorado National Bank in Pueblo — bringing this year's failure total to 98.

As the new president and chief executive of Flagstar Bancorp Inc., Joseph P. Campanelli has a lot of work to do, but he has been in challenging situations before.

Spooked by sharp declines in their net worth, boomers are postponing retirement and investing more conservatively. They are also counting on their banks to simplify their financial lives.

MIDWEST

But First Busey raised $122 million last week, becoming the latest example of a struggling company to find investors in the thawing capital markets.

Twelve individuals who worked for a group of Buffalo, N.Y. area collection agencies were charged yesterday with grand larceny after allegedly posing as law enforcement officials and threatening debtors with jail if they did not pay their bills, according to New York Attorney General Andrew Cuomo.

To the Editor:
The article from Sept. 25 on the Federal Deposit Insurance Corp.'s agreement with First Financial Bank to take over the Irwin banks ["Acquirer Impresses with Terms Won in Failure Buy"] fails to capture how the process works.

IMGCAP(1)]

When Larry Brown, the chief executive at Bank of Little Rock, first heard the name Kasasa, he thought the conversation had turned from rewards checking to what's for dinner.

The Federal Reserve Board has ordered Bankers' Bancorp Inc. in Springfield, Ill., and its subsidiary Independent Bankers' Bank, to improve accounting practices.

LOWELL, Mass.–Jeanne D’Arc Credit Union has opened a new 53,000-square-foot coporate headquarters here. The new building is at One Tremont Place, the site of the historic Tremont Yard & Mills. To mark the opening, the $735-million credit union hosted a gala that included numerous local dignitaries. The credit union has a long history in the town and is among the nation’s oldest, having been founded in 1912.

KleinBank's new CEO already has a deal to buy a struggling one-branch competitor, and industry observers say more companies could start eyeing similar small deals.

Eager to bolster its capital ratios, Citizens Republic Bancorp Inc. in Flint, Mich., said Monday that it will more than triple the number of shares it has outstanding, as part of a deal to exchange subordinated debt and trust-preferred securities for common stock.