While community bankers accept that the Federal Reserve Board's indirect rescue of Bear Stearns Cos. was necessary to calm financial markets, some are worried about broader implications.

Franklin Bank Corp.'s stock price fell 20.6% Monday, to $2.28 a share, after the Houston company announced it is conducting an internal accounting investigation and might have to revise last year's earnings.

Westsound Bank in Bremerton, Wash., is searching for a new chief executive officer after its former CEO was forced out by regulators amid an investigation into possible mortgage fraud.

CapitalSouth Bancorp Inc. in Birmingham, Ala., said Friday that it lost $17.2 million in the fourth quarter, largely because of a $17 million charge it took for impaired goodwill in connection with its September acquisition of Monticello Bancshares Inc. in Jacksonville, Fla.

Wisconsin's state-chartered credit unions scored a small victory when the state Legislature adjourned for the year Thursday without considering a bill that would have required some of them to prove to regulators that they adequately serve people of modest means.

Six weeks after reporting a fourth-quarter loss of $16 million, or 35 cents a share, Irwin Financial Corp. of Columbus, Ind., has revised its results because of an increase to its loan-loss allowance and now says it lost $26 million, or 56 cents a share.

Security Bank Corp. of Macon, Ga., announced Friday that it has raised $28 million in a stock offering and plans to use the proceeds to reduce its borrowings and to maintain healthy capital levels at its bank subsidiaries.

Laconia Savings Bank in New Hampshire has hired Mark Primeau as its president and chief executive officer.

As banking lobbyists stick mainly to the sidelines, credit union groups are pushing state legislatures to enact laws holding merchants accountable when they fail to protect consumers’ data.

UCBH Holdings Inc. has switched accountants.

The Texas Department of Banking has issued a cease-and-desist order against Houston Petroleum Bank Inc., an unlicensed company that claimed to be a bank and had been soliciting deposits.

While much of the nation’s economy is sputtering, the agricultural sector — thanks to soaring commodity prices — is booming, and bankers are eager to meet what they expect to be abundant demand for operational loans.

Westsound Bank in Bremerton, Wash., has been slapped with a cease-and-desist order that requires it to strengthen its lending practices and replace its chief executive officer.

MIDWEST

The Texas Department of Banking issued a cease-and-desist order Tuesday against Houston Petroleum Bank Inc., an unlicensed company that claimed to be a bank and had been soliciting deposits.

Baltimore County Savings Bank said the Office of Thrift Supervision has lifted the supervisory agreement under which it has been operating since December 2005.

While much of the nation's economy is sputtering, the agricultural sector — thanks to soaring commodity prices — is booming, and bankers are eager to meet what they expect to be abundant demand for operational loans.

First Community Bancorp in San Diego is planning to reincorporate in Delaware and rename itself PacWest Bancorp.