Americas

The federal government has taken the unusual step of suing a dead bank president's estate for repayment of bailout funds the bank received during the financial crisis.

MY CU Services is set to take ownership of the PCSi division of Palmetto Cooperative after the parties entered into a strategic alliance.

Kevin Kabat told the board of Fifth Third Bancorp that he intends to step down as CEO in November. Kabat, who had led the Cincinnati company since 2007, will remain executive vice chairman through next April.

Pearl Harbor Federal Credit Union changed its name to Pearl Hawaii Federal Credit Union, effective July 1.

In the wake of the recent Supreme Court decision legalizing gay marriage, Equality CU, which plans to cater to the LGBT community, faces a number of road blocks. But the fledgling group offers unique perspective on how all CUs can try to reach this market.

Jane G. Watkins, president and chief executive officer of Virginia Credit Union, a $2.7-billion institution based in North Chesterfield, Va., said she plans to retire on March 31, 2016, after serving 33 years in various capacities.

The $1.2 billion-asset National Commerce said in a press release Tuesday that it will pay about $37 million in cash and stock for the $300 million-asset Reunion Bank.

The Fed determined that the purchase of Susquehanna Bancshares, which would push BB&T's assets above $200 billion, will not pose a threat to the U.S. financial system. The approval could give more regional banks confidence to pursue bigger acquisitions.

Riverwood-Maritime CU here has been absorbed by Fox Communities Credit Union.

Americas United Bank in Glendale, Calif., has agreed to buy two branches from Banc of California in Irvine.