Americas

SAN FRANCISCO — It's time for credit unions to start talking a little SMAC.

SAN FRANCISCO — The flurry of regulations coming out of CFPB were expected to drive some credit unions right out of the mortgage business, but the "big dog" of mortgage regulation is yet to come, and that one might finally do the trick, according to one compliance expert.

SAN FRANCISCO — Credit unions need to continue to invest in technology — and use it well — if they expect to attract the elusive Millennial demographic.

Banks want to offer short-term consumer loans but regulatory constraints make it difficult. Credit unions are piling into this line of business. It all translates into a rare opportunity for traditional nemeses to cooperate.

Sierra Bancorp (BSRR) in Porterville, Calif., has agreed to buy Santa Clara Valley Bank (SCVE) in Santa Paula, Calif.

Home BancShares (HOMB) in Conway, Ark., got a big boost last quarter from a recent acquisition.

People's United (PBCT) in Bridgeport, Conn., has started a payments firm in partnership with Vantiv in a move that aided the company's quarterly results.

Sandy Spring Bancorp's profits fell short of expectations in the second quarter as revenue from mortgage banking plummeted and litigation costs rose.

Aided by gains from a recent acquisition, Simmons First National (SFN) in Pine Bluff, Ark., reported a $9.9 million profit in the second quarter, a 51% increase from the same period last year.

First National Bank of Southern California in Riverside and First Mountain Bank (FMBP) in Big Bear Lake, Calif., have terminated their planned merger.