Americas

Credit union executives are celebrating the movement reaching the 100 million-member milestone — but what does it really mean for the industry?

Heritage Bank in Jonesboro, Ga., became one of the first banks to retire trust-preferred securities held by the FDIC after a complex, year-long negotiation. The transaction could be a model for dozens of other lenders trying to avoid default and possible bankruptcy.

Carolina Financial in Charleston, S.C., has agreed to acquire 13 branches in the Carolinas and additional assets from First Community Bancshares in Bluefield, Va.

LAS VEGAS — Credit unions must be aware of and adapt to fundamental changes in the world around them, such as a younger generation that would rather use financial applications than go to financial institutions.

JACKSONVILLE, Fla. — The boards of Duval Federal Credit Union and 121 Financial Credit Union have agreed to merge late this year, subject to approval by their memberships and regulators, the FCUs jointly announced.

Northrim BanCorp in Anchorage, Alaska, has agreed to buy Residential Mortgage Holding Co.

The private-equity firms Warburg Pincus and Thomas H. Lee Partners are selling roughly a third of their combined stake in Umpqua Holdings of Portland, Ore.

The $5.6 billion-asset Talmer Bancorp said in a press release Wednesday that it will pay $13.4 million in cash for First of Huron, the parent of Signature Bank.

BancorpSouth has withdrawn applications for two planned acquisitions after the Tupelo, Miss., company drew regulatory scrutiny for its Bank Secrecy Act compliance.

NEW YORK. — Education Affiliates FCU's members have voted to approve the proposed merger with McGraw-Hill FCU in East Windsor, N.J.