Looking to cut costs after a string of money-losing quarters, First Ipswich Bancorp in Massachusetts agreed to sell its trust department to Eastern Bank of Boston.

In-store branches have increased their appeal among consumers, according to a recent study by Synergistics Research, a provider of multi-sponsor marketing research for the financial services industry.

Shares of Flushing Financial Corp. have rallied in recent days, after a Sandler O'Neill & Partners LP analyst upgraded them and said they were cheap relative to other thrift stocks.

Patriot National Bancorp Inc. of Stamford, Conn., announced Thursday that its second-quarter earnings jumped 45% from a year earlier, to $508,000.

Lafayette Federal Credit Union's bid to convert to a mutual savings bank has touched off a fresh round of controversy in the long-running debate over credit union conversions.

Sun American Bancorp in Miami said Hugo Castro is stepping down as its president but would remain with the $321 million-asset company as a lending officer.

MIDDLE ATLANTIC

The nation's credit unions picked up about 900,000 members and about $18 billion of assets in the first half, according to a report by the National Credit Union Administration.

CNB Financial Corp. of Clearfield, Pa., has opened a branch in Erie under the name ErieBank and said Tuesday that it plans to have four such branches there within two years.

Thrifts reported that earnings held steady in the second quarter, at $4.21 billion, while the return on average assets dropped 3 basis points from the first quarter, to 1.11%, the Office of Thrift Supervision said Wednesday.

Texas would appear to be an obvious market for private-equity funds looking to invest in start-up banks.

The Franklin Bank name is returning to two cities in northeastern Texas.

PAB Bankshares Inc. in Valdosta, Ga., announced Tuesday that James Lovett Dewar Sr., the founder of its subsidiary bank, died Saturday after a long illness. He was 94.

(From The Credit Union Journal)

American Savings Bank in Honolulu is facing two lawsuits that say it failed to protect an elderly customer from financial abuse by a branch employee.

Banks investing in other banks is nothing new, but some are looking for returns beyond dividends and stock gains.

American Commerce Bank in Tampa has raised more capital than any other start-up in Florida history, but that money will not guarantee it name recognition.

Los Angeles’ 1st Century Bank is in the market for a new president and chief executive.