Americas

First Republic Bank in San Francisco said certain shareholders, including members of its management team, will sell up to 11.8 million shares of common stock in a secondary offering.

PrivateBancorp Inc. has named a president of personal client services to oversee a new line of business that combines some of the Chicago company's offerings.

North Carolina Gov. Bev Perdue said Tuesday that she has nominated Ray Grace to take over as the state's banking commissioner.

James E. Young, the longtime president and chief executive of Citizens Trust Bank in Atlanta, died on Monday after a brief battle with cancer. He was 62.

Southcoast Financial Corp. in Mt. Pleasant, S.C., reported a fourth-quarter loss of $4.8 million, or nearly five times larger than what it lost a year earlier.

International Bancshares Corp. in Laredo, Texas, reported that its fourth-quarter earnings fell less than 1% from a year earlier, to $27 million, as both income and expenses declined.

Flagstar Bancorp Inc. reported $29.1 million more in losses for the fourth quarter and full year after agreeing to pay up to $133 million to settle claims regarding loans insured by the Federal Housing Administration.

Two banks failed on Friday, with the Federal Deposit Insurance Corp. only finding a buyer for one of the fallen institutions.

Rockville Financial Inc. in Connecticut reported record fourth-quarter income of $4 million, up 48% from a year earlier, as net interest income and noninterest income rose.

Ames National Corp. in Iowa has agreed to acquire two branches in the north central region of the state from Liberty Bank.