Americas

Aiming to beef up its wealth management business, Provident Bank in Jersey City has struck a deal to acquire Beacon Financial Corp. of Morristown, N.J., for up to $10.5 million in cash.

The National Credit Union Administration has liquidated the Hmong American Federal Credit Union in St. Paul, Minn. The agency said Thursday that it made the move to discontinue the $2.7 million-asset credit union's operations after determining that Hmong was insolvent.

UMB Financial Corp. in Kansas City, Mo., said late Wednesday that it would pay $7.8 million to settle a lawsuit over overdraft fees.

Enterprise Financial Services Corp. in St. Louis said Wednesday that it will raise $28.6 million with a public offering.

Atlantic Coast Capital Corp. in Jacksonville, Fla., said Wednesday that G. Thomas Frankland is now officially its president and chief executive.

In the last year, Michael Brown Sr. raised nearly $330 million, bought a small Florida bank, converted it to a thrift, struck a deal for a weaker competitor, bought a branch from the Federal Deposit Insurance Corp. — and turned 70 years old. The chairman and chief executive officer of HCBF Holding Co. in Palm City says he's just getting started.

Atlantic Coast Financial Corp. in Jacksonville, Fla. said Wednesday that G. Thomas Frankland is now officially its president and chief executive officer. Frankland had been the interim president and CEO since October.

First Bancshares in Hattiesburg, Miss., is buying seven Whitney National Bank branches in a deal that would more than double its branch network along the Gulf Coast and move it into a new market in Louisiana.

The $13.5 billion-asset company said this week that it will shutter nine branches in Arkansas, eight in Mississippi — including two in its headquarters city — three in Tennessee, and one each in Texas, Alabama and Missouri.

Patriot National Bancorp Inc. saw its losses widen in the first quarter, but asset quality improved substantially as the Stamford, Conn., company continued shed problem loans.