Americas

TowneBank in Suffolk, Va., is buying a Raleigh, N.C., insurance agency and merging it into its insurance subsidiary.

As credit unions seek to grab a bigger share of deposits, State Employees' CU has become the first credit union to publicly disclose its confidential financial condition as determined by regulators–its CAMEL code.

American Momentum Bank is committed to buying Brazos Valley Bank in College Station, Texas, though it swapped out its application with the Federal Reserve.

Sabal Financial Group L.P. of Newport Beach, Calif., has acquired a $153 million portfolio of loans located in some of the hardest hit regions of the United States.

The president of a small Atlanta-based bank testified to Congress on Wednesday that the derivatives provisions in the Dodd-Frank Act could hinder the bank's ability to manage risk and serve its clients.

United Community Banks Inc. in Blairsville, Ga., said it will record a special loan-loss provision of $25 million for the third quarter due to concerns over collateral associated with its largest loan relationship.

Park National Corp. in Newark, Ohio, said Tuesday that it had found a material weakness in its internal control over financial reporting, tied to its use of a third-party contractor.

New Hampshire Thrift Bancshares Inc., the parent of Lake Sunapee Bank, is entering the insurance business with its buy of McCrillis and Eldredge Insurance.

First Financial Corp.'s willingness to pay nearly double the tangible book value for Freestar Bank outside of Chicago is the most expensive small bank deal in months.

First Citizens BancShares Inc. in Raleigh, N.C., has retired its IronStone Bank brand and converted IronStone's 58 branches into branches of its First Citizens Bank.