Americas

CVB Financial in Ontario, Calif., has agreed to sell a branch Sierra Bancorp in Porterville, Calif.

American International Group announced $3.6 billion in new costs to fill a reserve shortfall and said it will hold an initial public offering for its mortgage insurer and sell an adviser network as Chief Executive Peter Hancock seeks to boost returns and protect his job after criticism from activist investor Carl Icahn.

Chemical Financial in Midland, Mich., has agreed to buy Talmer Bancorp in Troy, Mich.

A JPMorgan Chase unit has reached an agreement to pay $1.42 billion to resolve claims it took advantage of its status as Lehman Brothers Holdings' primary lender to unfairly extract cash and position itself ahead of other creditors in Lehman's bankruptcy.

Huntington Bancshares in Columbus, Ohio, has agreed to buy FirstMerit in Akron, Ohio.

Bank of America and nine other banks have agreed to pay about $63 million to settle claims they misled the state of Virginia into buying faulty residential mortgage-backed securities.

Enterprise Financial Services in Clayton, Mo., has acquired a $21 million loan portfolio as part of its formation of an aircraft financing unit.

Sun Bancorp in Mount Laurel, N.J., has agreed to pay $25,000 to resolve issues connected to the company’s former Sun Home Loans division.

Bank of Hawaii in Honolulu said Monday that its fourth-quarter profit rose 3.98% to $42.8 million from a year earlier as loan growth offset lower fee income.

PNC Financial Services Group in Pittsburgh has tapped Karen Larrimer to lead its retail banking division.