Americas

TRENTON, N.J. — The Garden State will soon have a new banking commissioner.

SECU of Maryland has licensed Rate Reset to allow members to "reset" loan rates without going through a formal refinancing process.

The percentage of funds that NCUA annually transfers to its operating budget from the National Credit Union Share Insurance Fund to cover expenses of the agency — known as the "overhead transfer rate" — is subject to notice and comment requirements under federal law, according to a legal analysis by NASCUS.

Northwest Bancorp. in Spokane, Wash., has agreed to buy Fairfield Financial Holdings in Fairfield, Wash., for about $21 million in cash. The deal is expected to close in the fourth quarter.

Bank of the Orient in San Francisco has received a federal cease-and-desist order because of shortcomings in its compliance with anti-money-laundering rules.

Johnson Financial Group in Racine, Wis., has promoted an executive in its insurance division to chief financial officer.

Flagstar Bancorp in Troy, Mich., has hired industry veteran Leonard Israel to lead its mortgage division.

Jack Henry & Associates Inc. announced that F.C.I. Federal Credit Union has selected and converted to its CruiseNetcore processing system.

According to the agency's 2014 Annual Report, NCUA failed to meet all of its targets — in some cases even losing ground — for increasing the number of females, minorities and persons with disabilities at all levels of the organization, including management.

Glen Burnie Bancorp in Maryland has hired an executive from Patapsco Bank to be its new chief financial officer.