Americas

PNC appears to be willing to pay up to expand on Florida's west coast, entering into a deal to buy 19 branches and $350 million of deposits from BankAtlantic at a 10% premium.

Regulators closed four banks late Friday, including the largest based in New Mexico, resulting in over $500 million of losses to the Deposit Insurance Fund.

MB Financial Inc. in Chicago earned $595,000 in the fourth quarter, compared with a loss $12.4 million a year earlier, as net interest income grew and credit costs subsided.

Sterling Bancorp in New York said its net income grew 75% in the fourth quarter, from a year earlier, as noninterest income grew and credit costs declined.

Glacier Bancorp Inc. in Kalispell, Mont., said its quarterly net income was flat from a year earlier as lower interest income offset a dip in the loan-loss provision.

Banking companies were not alone in reporting improved 2010 financial results. A growing number of big, troubled credit unions are also reporting positive income for last year, and others are slashing their losses, more proof of an improving economy.

Tower Bancorp Inc. in Harrisburg, Pa., announced last week that nine directors resigned as part of a plan to streamline its board.

The Federal Reserve Board said Thursday that it had issued a prompt-corrective-action order to Virginia Business Bank in Richmond.

The Florida company, which was bought in May 2009 by private investors, raised $783 million in its initial public offering, more than 18% than what it initially expected.

Taylor Capital Group Inc. in Rosemont, Ill., might have its arms around its commercial real estate problems, but other banks' CRE problems are weighing it down.