Americas

The company appointed a representative of Stilwell Group to its board. Stilwell, meanwhile, agreed to back Delanco's board nominees and refrain from pushing for the company's sale.

The deal, which is expected to close in the fourth quarter, values Cornerstone at $25.8 million.

Anchor's sale agreement comes less than a year after it put a representative of the activist investor Stilwell Group on its board.

These execs say they are finding ways to reduce fixed costs in areas such as branching and personnel, offer appealing tech, yet provide in-person services when customers have concerns.

The Little Rock, Ark., bank said first-quarter profits rose slightly and that it plans to dissolve its holding company to trim regulatory costs.

Opus Bank has added Paul Greig, who was CEO of FirstMerit until its sale in July, as a director.

Carter, who built what became Carter Bank and Trust from the ground up, was praised for his “uncanny” credit acumen, devotion to community and family, and willingness to take unconventional risks.

The allowance by some states for companies to incorporate without disclosing beneficial owner information significantly hampers anti-money-laundering efforts and drives up bank costs.

Ashton Ryan, who had been removed as CEO in December, had been serving as its president. The New Orleans company also agreed to sell preferred stock to directors to help it make payments tied to its subordinated debt.

Bank of Montreal's Bill Downe, the longest-serving chief executive officer among Canada's largest lenders, will retire Oct. 31 after spending a decade expanding the nation's oldest bank through acquisitions in the U.S. and overseas.