Americas

Deutsche Bank agreed to pay $258 million to the Federal Reserve and New York’s Department of Financial Services, and to fire six employees, to resolve a probe into sanctions violations from 1999 to 2006 for allegedly handling transactions linked to Iran, Libya, Syria, Burma and Sudan.

Luther Burbank Savings, in Santa Rosa, Calif., has established three home loan programs aimed at helping low- and moderate-income borrowers afford to buy homes in nine California counties.

F&M Bancshares in Trezevant, Tenn., has agreed to buy Medina Banking in Medina, Tenn. The $308 million-asset F&M Bancshares said in a press release that it expects the transaction to close early next year.

The $3.9 billion-asset company said in a press release Wednesday that Bernard Clineberg, 66, will step down as president and chief executive in January. Christopher Bergstrom, Cardinal’s chief credit officer and chief risk officer, will succeed Clineberg as acting president and CEO. Clineberg will remain the company’s chairman.

Claremont Savings Bank in New Hampshire has found a successor to Chief Executive Sherwood Moody.

First National Corp. in Strasburg, Va., will redeem about $14.6 million of preferred stock that was originally issued through the Troubled Asset Relief Program.

FirstBank Holding in Lakewood, Colo., has picked new presidents for its Denver market and its market for the western suburbs of Denver.

Chippewa Valley Bank in Winter, Wis., has agreed to buy most of the assets of State Bank of Drummond in Drummond, Wis.

MasterCard has appointed Craig Vosburg to president of North America markets.

CIT Group, the commercial lender that’s expanded into retail banking, posted profit that beat analysts’ estimates as loans and deposits increased with the acquisition of OneWest Bank Group.