Americas

It's unlikely that SunTrust Bank wanted to become a part owner of a small North Carolina bank when it made a $15 million loan nearly three years ago.

Yakima Valley Credit Union in Yakima, Wash., said Wednesday that it has signed a nonbinding letter of intent to merge with Catholic Credit Union to create a credit union with almost $500 million in assets and serving 50,000 members.

City County Credit Union in Fort Lauderdale, Fla., plans to double its coverage in the state by expanding into nine nearby counties.

First BanCorp in San Juan, Puerto Rico, has reduced its shares outstanding to 21 million after a 1-for-15 reverse stock split.

Tower Bancorp Inc. of Harrisburg, Pa., said Wednesday it may cost up to $5.6 million to shut down the former mortgage division of First Chester County Corp., a bank Tower bought in December.

The Federal Reserve Board reached written agreements with five community banks Thursday.

CapitalSource Inc. may not be drowning, but that isn't stopping the Chevy Chase, Md., finance company from looking for help.

Carolina Trust Bank in Lincolnton, N.C., raised $6.3 million after selling 2.1 million shares of common stock.

First Commonwealth Financial Corp. in Indiana, Pa., has named a company insider to become its chief risk officer.

Capitol Bancorp Ltd., which has headquarters in Lansing, Mich., and Phoenix, has commenced an exchange offer to holders of its trust-preferred securities.