Americas

Franklin Financial Network in Tennessee hit a roadblock in its plan to buy Civic Bank & Trust in Nashville, but that didn't stop Franklin from hiring away Civic's chief executive.

The Charlotte, N.C., company on Thursday appointed Michael White, former chairman and chief executive at DirecTV, effective immediately.

FirstBank Holding in Lakewood, Colo., will have a sole chairman after one of its co-founders announced plans to step down.

His title may be changing, but Ray Davis' goal of altering the banking landscape remains the same. Davis, who will step down as Umpqua's CEO, will still run its innovation unit with a hope of influencing digital banking in the same way that he shook up retail banking.

The $3 billion-asset First United did not disclose how much it will pay for the $2.3 billion-asset American Bank. The deal is expected to close later this year.

Southern Banc in Gadsden, Ala., said it could report a loss for its fiscal year after recording a charge tied to a bad loan.

WASHINGTON — Marijuana businesses and banks looking to open their doors to the potentially lucrative clients suffered a blow Wednesday after House Republicans blocked an amendment that would have prevented federal regulators from pursuing enforcement actions against banks dealing with the businesses in states with legalized pot.

The $5.3 billion-asset company said in a press release Tuesday that it will buy two branches in the California markets of Granada Hills and Burbank from the $7.3 billion-asset Boston Private Financial Holdings in Boston.

First Mid-Illinois signed a confidentiality agreement last fall to pursue a mystery bank in Illinois. It soon discovered that the bank — First Clover Leaf — was an institution it had heavily courted three years earlier.

Regions Financial in Birmingham has restructured its small and middle-market banking business, and tapped Bill Horton – a 42-year veteran of the company – to oversee the division.