Americas

National Penn Bancshares Inc. of Boyertown, Pa., said late Monday that Michael Martin had joined its board as part of a recent capital infusion by Warburg Pincus.

CoBiz Financial Inc. of Denver said late Monday that it would record a $15.6 million valuation allowance for deferred tax assets.

The Federal Reserve Board acted against three banks Tuesday. Bank of Whitman in Colfax, Wash., was hit with a prompt corrective action after the Fed found that the $722.2 million-asset bank was undercapitalized and failed to submit an acceptable capital restoration plan.

First Mid-Illinois Bancshares Inc. in Mattoon is raising capital through a private placement to be opportunistic. The $1.5 billion-asset company said Friday that it had subscriptions for $27.5 million of convertible preferred stock from investors, directors, executives, major customers and existing shareholders.

CBM Florida Holding Co. in Lakewood Ranch said in a press release Friday that its Community Bank & Co. had agreed to buy the $505 million-asset First Community Bank of America in Pinellas Park, Fla.

Sterling Bancshares Inc. talked with six potential bidders before agreeing to sell to Comerica Inc., according to a regulatory filing.

Four failed-bank deals announced Friday evening marked another successful night for private equity.

Cardtronics Inc. executives cast their company as a potential beneficiary of financial reform that, as proposed, would require issuers to attach more than one unaffiliated payment network to debit cards.

Republic Bancorp said Friday that it had received a notice from the Federal Deposit Insurance Corp. characterizing its practice of funding loans in advance of income tax refunds as "unsafe and unsound."

Premier Financial Bancorp Inc. said its regulator, citing the Troubled Asset Relief Program, had rejected a request to let it pay dividends.