Americas

ChoiceOne Financial Services in Sparta, Mich., has tapped a new president as it splits the role from chief executive.

The Credit Union Executives Society's board of directors on Monday named John Pembroke as the organization's new president and CEO, effective immediately.

PBB Bancorp in Los Angeles has agreed to buy First Mountain Bank in Big Bear Lake, Calif., for about $13.4 million in cash and stock.

Live Oak Bancshares in Wilmington, N.C., has filed registration documents for an initial public offering, with plans to raise up to $86.3 million.

ACNB in Gettysburg, Pa., has promoted James Helt to president of its bank unit.

Dickinson Financial in Kansas City, Mo., has consolidated several of its banks charters to cut costs and improve marketing to military members.

CoBiz Financial in Denver plans to issue up subordinated debt to redeem its shares in the Small Business Lending Fund.

Royal Financial in Chicago has agreed to sell $29.1 million in distressed assets, a deal mandated by a bankruptcy judge as part of the company's acquisition of PNA Bank.

Atlantic Coast Financial in Jacksonville, Fla., is in talks to restructure its debt and has reversed the valuation allowance on a deferred tax asset.

Access National in Reston, Va., said Chairman James "Ted" Jadlos resigned to focus on a mortgage-related business.