Americas

West Shore Bank Corp. in Ludington, Mich., has agreed to buy West Michigan Bank & Trust in Frankfort.

B of A is normally thought of as a U.S. economic bellwether, but it has substantial operations overseas, and its international performance last quarter provided a painful reminder of that fact.

PacWest Bancorp in Los Angeles reported higher quarterly profit led by its acquisition of Square 1 Financial in Durham, N.C.

Profits soared at First Republic Bank in San Francisco thanks to lending growth in several categories and its expansion in wealth management.

Wells Fargo, Wall Street's top oil and gas banker, said first-quarter profit fell 5.9 percent as the firm set aside more money for soured energy loans and expenses increased.

Bank of America, the second-biggest U.S. lender by assets, said profit declined 13% on a drop in trading and underwriting revenue and a 30% increase in provisions for credit losses, mostly tied to souring energy loans.

Weakness in the energy sector is weighing on PNC Financial Services Group's profits. The Pittsburgh company said early Thursday that it earned $943 million in the first quarter, a nearly 6% decline from the same period last year.

Mutual of Omaha Bank and an affiliate of PlainsCapital Bank in Dallas have partnered to sell residential mortgages.

To date, only a handful of banks have become benefit corporations, but experts believe the number could rise as regulators become more comfortable with the concept.

First-quarter profit improved at Commerce Bancshares in Kansas City, Mo., as commercial-and-industrial loans increased.