Americas

U.S. Bancorp in Minneapolis reported higher quarterly profit boosted by increased fee revenue from credit and debit cards.

First Horizon National in Memphis, Tenn., reports solid quarterly results on the strength of revenue growth.

PNC Financial Services Group in Pittsburgh reported lower quarterly profit that reflected a decline in asset management fees and Volcker Rule-mandated devaluation of some investments.

The $1.5 billion-asset Equity said in a press release Thursday that it will pay $68.8 million in cash and stock for the $475 million-asset parent of Community First Bank.

Profit rose at First Republic Bank in the second quarter, as higher loan originations and fee-based business offset a spike in employee salaries that was partly caused by the bank raising its minimum wage.

That’s the message that two funds have for directors of Commonwealth Business Bank in Los Angeles.

Millennium Bank is said to have been the target of an enforcement action related to its work with the pot industry. The episode shows why many banks remain reluctant to serve the fast-growing cannabis industry.

Jack Kuntz, president and chief executive at American Savings Bank in Portsmouth, Ohio, recently put his personal cell phone number on a billboard off Interstate 71 in Cincinnati as part of an advertising campaign for his $260 million-asset institution.

The $31 billion-asset company said in a press release that Marty Grunst will also join its executive leadership team on Aug. 1.

OceanFirst Financial in Toms River, N.J., has agreed to buy Ocean Shore Holding in Ocean City, N.J.