Americas

Malvern Federal Bancorp (MLVF) in Paoli, Pa., will raise up to roughly $36.4 million by converting to a 100% stock-owned company from a mutual holding company.

Preferred Bank (PFBC) in Los Angeles has added the role of president to the responsibilities of its chief operating officer, Wellington Chen.

Sound Financial in Seattle is nearing its conversion a fully stock-owned company.

HomeStreet Bank in Seattle has added the U.S. Small Business Administration loans to its menu of services for small and middle-market companies in the Puget Sound region.

Spirit of Texas Bank SSB in College Station said Friday that it is buying the $77 million-asset Oasis Bank in Houston.

Two businessmen, including a former Wachovia banker, were sentenced to federal prison for a $3 million bank fraud Thursday.

The Federal Reserve Board has entered into a written agreement with PNBK Sponsor that requires the Stamford, Conn., company to serve as a source of strength to its bank.

Shares of United Bancorp (UBCP) fell sharply Thursday after the Martins Ferry, Ohio, company announced that it was cutting its quarterly dividend in half in order to preserve capital.

Two banks that are majority-owned by Piedmont Community Bank Holdings in Raleigh, N.C., have agreed to merge.

First National Community Bancorp (FNCB) has finally caught up on its financial reports for 2011 — now on to 2012.