Americas

First Citizens BancShares (FCNCA) in Raleigh, N.C., reported higher third-quarter profit because of a significant improvement in credit quality.

The $1.7 billion-asset company said Thursday that it closed two branches last month, and that another four branches will close by next March.

The Federal Reserve Board has announced the termination of regulatory orders with four lenders Thursday: FNB United (now named CommunityOne Bancorp), Highland Bancshares, National Consumer Cooperative Bank and NCB Financial.

Stephen Carpenter will step down as CU Bancorp's vice chairman and become a director emeritus at the end of the year, the $1.3 billion-asset company said Thursday.

Southern Missouri Bancorp (SMBC) in Poplar Bluff has agreed to buy Citizens State Bankshares of Bald Knob in Arkansas.

The former chief executive and chairman of Bank of the Commonwealth in Norfolk, Va., has been sentenced to 23 years in federal prison for spearheading a fraud scheme that led to the failure of the bank.

George Pelose will step down during the first quarte, the $673 million-asset company said Wednesday.

First Internet Bancorp (INBK) in Indianapolis is adding asset-based lending to its commercial offerings.

Monarch Community Bancorp (MCBF) in Coldwater, Mich., has finalized a plan to repurchase shares and warrants issued under the Troubled Asset Relief Program from the Treasury Department at a 55% discount.

Seacoast Banking Corp. of Florida (SBCF) in Stuart has begun a public offering to fund its exit from the Troubled Asset Relief Program.