Americas

An interbank loan market that was created for small and regional banks has begun operations, recording $15 million in transactions on its first day.

Dave Seleski founded Stonegate in 2005 and the decade since has built it into one of Florida's best-performing banks through a combination of prudent lending and opportunistic buying. Now he's got his sights set on Cuba and playing a key role in bringing that country's economy into the 21st century.

Southwest Bancorp in Stillwater, Okla., has hired a group of former National Bank Holdings commercial lenders to lead its Colorado market.

Frandsen Financial in Arden Hills, Minn., has agreed to buy Provincial Corp. in Lakeville, Minn.

Over the past three decades William Cooper has led TCF Financial through two crises and reinvented the bank to keep it profitable. He also sued the Federal Reserve in the aftermath of the financial crisis, for imposing a cap on debit card fees. For his strong leadership in the industry — as well as his candid, off-the-cuff style — American Banker has named him its lifetime achievement honoree.

California regulators on Monday identified 14 companies that the state is targeting as part of its recently announced inquiry into the marketplace lending industry.

KINGSPORT, TENN. — Eastman Credit Union announced over the weekend that it will issue a $10 million extraordinary dividend to members as a reward for doing business with the CU.

Associates of Glen Falls Insurance said that it bought Loomis & LaPann, an insurance unit of Arrow Financial that focuses on amateur sports, for an undisclosed price.

Union Community Bank in Mount Joy, Pa., will promote its chief operating officer to lead the bank, after the retirement of its longtime president and chief executive.

The Bancorp in Wilmington, Del., is looking for a new chief executive. The $4.7 billion-asset company said that Frank Mastrangelo resigned as CEO to become its technologist in residence.