Americas

Flagstar Bancorp (FBC) has agreed to sell the majority of its mortgage-servicing rights but will retain the subservicing rights, the Troy, Mich., company said Wednesday.

Investors Bancorp (ISBC), in Short Hills, N.J., filed registration papers to dissolve its mutual holding company and convert to a fully stock-owned company.

BNC Bancorp's deals to spend $48 million on two lenders with sizable levels of nonperforming assets show that strugglers can command stronger prices in markets where aggressive banks are under pressure to buy.

Timberland Bancorp (TSBK) in Hoquiam, Wash., will buy back its remaining Troubled Asset Relief Program shares for about $12.1 million.

BNC Bancorp (BNCN) in High Point, N.C., announced two deals Wednesday that would significantly boost its presence in its home state.

BB&T (BBT) in Winston-Salem, N.C., has added its top lawyer to its executive management team.

Joseph Lucarelli was elected by the $4.5 million-asset company's board to serve a one-year term starting Jan. 1, the company said in a regulatory filing Tuesday.

Keith Darcy, longtime head of the Ethics & Compliance Officer Association and former director of E-Trade Bank and New York National Bank, has joined Deloitte's compliance group as a senior advisor.

Union First Market Bancshares (UBSH) in Richmond, Va., plans to remake its board and expand its executive team after acquiring StellarOne (STEL) in Charlottesville, Va.

LNB Bancorp (LNBB) in Lorain, Ohio, has sold $3.7 million of stock as part of a plan to exit the Troubled Asset Relief Program.