Americas

The man who took 11 Alabama Credit Union employees hostage during an attempted robbery in January has reportedly told police he needed the money to pay for court costs in in a separate criminal case.

The deal is the latest coastal acquisition for United Community. For HCSB, the sale is the final chapter in a turnaround that began 13 months earlier.

The regulator also provided updates on investment performance, expenses, CAMEL codes and more.

Mariner Kemper, UMB's chief executive, said he struggled with the decision to sell Scout Investments to Raymond James. Selling made more sense than pumping more capital into the beleaguered business.

The Office of the Comptroller of the Currency has given preliminary conditional approval for Winter Park National Bank, allowing organizers to work on office space, hire staff and raise capital.

Indianapolis-based CU has operated an insurance CUSO since 2004.

The company has hired an investment bank to help it consider strategic alternatives, which could also include recapitalizing.

The North Carolina company reported lower net income from a year earlier after extinguishing nearly $3 billion in Federal Home Loan bank advances. BB&T also reported more regulatory charges as it deals with a consent order.

The Mississippi company's first-quarter earnings rose 60% from a year earlier. Its results from last year were weighed down by a settlement with regulators.

The Ohio company said it is retaining more FirstMerit deposit accounts than it had projected. At the same time, Huntington is moving forward with cost-cutting tied to the acquisition.