Americas

First California Financial Group's decision to turn down a buyout offer from PacWest Bancorp (PACW) has angered at least one of the company's largest shareholders.

WSFS Financial (WSFS) of Wilmington, Del., has lowered its previously reported first-quarter earnings after the implementation of a new risk-rating system led it set aside more funds for loan losses.

BancorpSouth in Tupelo, Miss., announced Thursday that its longtime leader Aubrey Patterson plans to relinquish his duties as chief executive in 2013.

The Federal Reserve Board has entered into written agreements requiring two holding companies to serve as sources of strength for their community banks.

Jay Sidhu says Customers Bancorp, a Wyomissing, Pa., company could also revisit its now-delayed IPO by the end of the year.

ROCKVILLE, Md. — Branchless-Realtors FCU, billed as the first virtual credit union when it was chartered by the National Association of Realtors three years ago, is throwing in the towel and plans to merge into Northwest FCU, the $2.2 billion credit union in nearby Herndon, Va.

The $5.4 billion-asset company's aggressive pursuit of First California and American Perspective may inspire others to abandon the traditional courtesies of the bank deals market.

Clifton Savings Bancorp (CSBK) in New Jersey said Wednesday that it is making a concerted effort to increase its lending in low- and moderate-income neighborhoods so that it can improve its Community Reinvestment Act rating and follow through with its plan to become a 100% stock-owned company.

Hawthorn Bancshares (HWBK) in Lee's Summit, Mo., has repaid $12 million of the $30.2 million in funds it received under the Troubled Asset Relief Program.

PlainsCapital's relatively weak price may give aspiring sellers a reason to pause, though industry observers say there are reasons why this deal failed to meet the hot premiums that other Texas banks have commanded.