Americas

The $1.9 billion-asset company said in a Monday press release that Richard Northern, a corporate lawyer in the Louisville office of Wyatt, Tarrant & Combs, will join the board on Jan. 18.

Another banking company plans to exit the Troubled Asset Relief Program after 1st Source Corp. of South Bend, Ind., said it received approval to repurchase preferred shares it issued two years ago.

BankEast in Knoxville, Tenn., has received a prompt corrective action directive from the Federal Reserve due to its undercapitalized status.

Cascade Bancorp in Bend, Ore., said Monday that shareholders overwhelmingly approved a plan to sell common stock to a group of outside investors.

Last decade's acquisitions made midsize banks an endangered species. Today's acquisitions are repopulating the category, and Tower Bancorp is a case in point.

Shareholders of American Community Bancorp Inc. in Evansville, Ind., on Wednesday approved the company's sale to German American Bancorp Inc. in Jasper, Ind.

Analysts predict there will be more deals like Hancock's takeover of Whitney as banks seek buyers to help cut ties with Treasury rather than test the highly dilutive capital markets.

Hancock, of Gulfport, Miss., is buying the larger New Orleans-based Whitney. Hancock would gain an entree into Texas and Louisiana and a bigger presence in Florida and Mississippi.

Berkshire Hills Bancorp in Pittsfield, Mass., has agreed to pay $108 million for hometown rival Legacy Bancorp.

F.N.B. Corp. in Hermitage, Pa., announced Tuesday that longtime board member Peter Mortensen is retiring. The former chairman of the $9 billion-asset F.N.B. plans to leave when his term expires in May.