Americas

WASHINGTON — On the heaviest night of bank closures this year, regulators across four states shuttered a total of five institutions, bringing the year’s failure total to 22 and costing the Federal Deposit Insurance Corp. more than $270 million.

WSFS Financial (WSFS) in Wilmington, Del., has been using its excess capital to open new branches, hire lenders and beef up its wealth management operations, but Chief Executive Mark Turner assured investors and analysts Friday that repaying the $53 million it received from the Troubled Asset Relief Program remains a priority.

The Houston bank's four deals since September would not slow it down if it sees another good M&A opportunity, David Zalman says. Proxy filing details how it courted American State Financial.

First Financial Bancorp (FFBC) in Cincinnati is planning to close 10 of its branches in a move it says will reduce its annual overhead by about $2.3 million.

Prosperity Bancshares in Houston reported first quarter earnings of $36.5 million, up 7.7% from a year earlier as net interest income increased and already low credit costs fell further.

Investors Bancorp (ISBC) in Short Hills, N.J., reported a profit of $18.9 million in the quarter that ended March 31, up about 4% from the same period last year, as an acquisition and continued organic growth helped boost earning assets.

Citizens Republic Bancorp (CRBC) in Flint, Mich., reported its fourth-straight quarterly Thursday profit as loan quality continued to improve and a surge of new deposits helped generate fresh income from investment securities.

Texas Capital Bancshares' (TCBI) stock zoomed to an all-time high Thursday after the Dallas company handily beat first-quarter earnings projections and the investment firm Sterne Agee & Leach upgraded its shares from neutral to buy.

The Federal Reserve Board has terminated a written agreement with North Valley Bancorp (NOVB) in response to the Redding, Calif., company's improved financial condition.

Bar Harbor Bankshares (BHB) in Maine is getting some love from analysts following its record earnings performance in the first quarter.