Americas

Sterling Bancorp in Montebello, N.Y., has agreed to buy Hudson Valley Holding in Yonkers, N.Y.

The bank unit of Carver Bancorp in New York has been released from a cease-and-desist order by federal regulators.

First Banks Inc. in St. Louis said that Terrance McCarthy will retire as president and CEO on Feb. 13. McCarthy will also step down from the board. Timothy Lake, president and CEO of banking unit First Bank, will succeed McCarthy.

Northwest Community CU in Springfield, Ore., has completed its previously announced acquisition of Fred Meyer Employees FCU in Portland, Ore.

Bankers are worried that a new proposal will allow Farm Credit institutions to invest in non-farming businesses. The Farm Credit Administration denies those claims, stating that the proposal is designed to comply with the Dodd-Frank Act.

Flagstar Bancorp in Troy, Mich., which has been under pressure from regulators in recent months, has hired a new chief financial officer.

The ousted founders of CertusBank in Greenville, S.C., have filed a new lawsuit against a hedge fund investor.

Trinity Capital in Los Alamos, N.M., will restate earnings for 2009 and has determined that its financial statements going back to 2006 can no longer be relied upon.

ConnectOne Bancorp in Englewood Cliffs, N.J., has appointed Mark Santasieri chief credit officer.

Freedom Bank of Virginia in Fairfax plans to raise $4 million by selling common stock.