Americas

A group of First National Community Bancorp's (FNCB) current and former directors have agreed to pay $5 million to settle a shareholder lawsuit claiming that they failed to properly oversee risky practices.

A decision by Popular (BPOP) in San Juan, Puerto Rico, to reduce its stake in a former technology subsidiary could help it exit the Troubled Asset Relief Program.

The $890 million-asset company exceeded its goal of raising $15 million after it received investments from local shareholders in addition to institutional investors, according to a press release Wednesday.

The $339 million-asset bank said in a press release Wednesday that it chose the new name to distinguish itself from other businesses that also use the word "Columbia."

Patriot Financial Partners, a Philadelphia PE firm that specializes in community banks, has agreed to buy more than 1.5 million shares of Banc of California for $13.25 each, a price 6% higher than the company's Tuesday closing price of $12.46 a share.

Dan Benhase will retire next year as head of its wealth management, government and home lending group, the Columbus, Ohio, bank said in a press release Tuesday.

Investors Bancorp (ISBC) in Short Hills, N.J., has received approval from the Federal Reserve Board to buy Roma Financial (ROMA) in Robbinsville, N.J.

ServisFirst Bancshares in Birmingham, Ala., has raised about $10.4 million through a private placement.

BALTIMORE — Advance Bank shareholders have approved the proposed sale of the institution to Municipal Employees CU of Baltimore, and the credit union will take control of the bank Dec. 12.

United Bancshares (UBSI) in Charleston, W.Va., and Virginia Commerce Bancorp (VCBI) in Arlington have pushed back the deadline for their merger as they await final regulatory approval.