With 16% of its loans now nonperforming, 1st Centennial Bancorp in Redlands, Calif., said Tuesday that it has fired its president and chief executive officer, Thomas E. Vessey, and its chief credit officer, John P. Lang.

The showdown at Cape Fear Bank Corp. has ended in a compromise.

Some credit unions have expanded to serve entire cities such as Houston, Philadelphia, and Washington by having regulators declare them underserved areas, despite large enclaves of wealthy residents.

Alaska Pacific Bank is done sharing loans with large groups of other banks.

The battered student lender First Marblehead Corp. of Boston announced Monday that it received a $132.7 million cash infusion and brought back co-founder and former chief executive officer Daniel Meyers to help make the company profitable again.

Peoples Community Bancorp Inc. in West Chester, Ohio, reported its eighth loss in as many quarters.

The only two banking companies based in Shreveport, La., have called off their acquisition deal after the buyer failed to raise enough money in a stock offering to fund the purchase.

A long-running battle for control of Cape Fear Bank Corp. in Wilmington, N.C., should be settled this week when investors will decide whether to retain directors up for re-election or replace them with a dissident slate supported by one of the company's largest shareholders.

Silver State Bancorp of Henderson, Nev., restated its second-quarter earnings to reflect higher provisioning.

The only two banking companies based in Shreveport, La., have called off their acquisition deal after the buyer failed to raise enough money in a stock offering to fund the purchase.

Carolina Bank Holdings Inc. in Greensboro, N.C., said Thursday that it has raised $8.3 million of capital through a private placement of subordinated, unsecured notes to institutional buyers.

BankUnited Financial Corp. in Coral Gables, Fla., has been trying since May to raise capital to gird against losses in its ailing single-family mortgage portfolio, but so far it has failed.

Today's credit environment is one of the most challenging industry leaders have seen in decades, and while the headlines focus on the subprime loan crisis and the downward spiraling residential real estate market, complications in small-business lending may emerge as the next major financial threat.

Originally published in American Banker on July 7, 1982.

The $348 million-asset Citizens Bancshares Corp. in Atlanta said Thursday that it lost $164,000 in the second quarter after posting a $1 million provision for losses on commercial real estate loans.

Questionable lending practices have come to light as the collapse of Penn Square Bank NA here continues to reverberate throughout the banking industry.

Originally published in American Banker on July 8, 1982

Originally published in American Banker on July 7, 1982.

Chemical Financial Corp. of Midland, Mich., is taking on quite a challenge: saving Michigan.