Americas

Alamogordo Financial Corp. (ALMG) in New Mexico has agreed to buy Bank 1440 (BFFO) in Phoenix.

In an effort to simplify its mortgage process and improve compliance, BOK Financial (BOKF) in Tulsa, Okla., has chosen DocuTech's mortgage loan document software.

Avidbank Holdings (AVBH) in Palo Alto, Calif., has raised $16 million selling roughly 1.6 million shares of common stock in a private offering.

The Federal Reserve Board has terminated a written agreement with Farmers Bank in Ault, Colo. The May 2010 pact obligated the $232 million-asset bank's directors to strengthen oversight of management.

An uptick in fees and a drop in expenses lifted Pinnacle Bancshares in the first quarter.

The chief executive and three directors of Atlantic Coast Financial (ACFC) are leaving the company after shareholders rejected a proposed sale to Bond Street Holdings earlier this month.

The NCUA has approved the mergers of several struggling credit unions, including four more in California.

F&M Bank Corp. (FMBM) in Timberville, Va., has named new chief financial and administrative officers at its bank unit as part of a series of promotions.

First PacTrust Bancorp (BANC) in Irvine, Calif., is planning to raise about $46 million through a sale of common stock.

The Federal Deposit Insurance Corp. has charged nine former directors of Southern Community Bank in Fayetteville, Ga., with approving risky loans that later led to its collapse in 2009.