Americas

WASHINGTON — Credit unions and NCUA have kicked the tires on the risk-based capital proposal during the first two "Listening Sessions" that have seen healthy — and sometimes heated — exchanges between the regulator and CUs.

Northern Trust (NTRS) in Chicago has named a new chief financial officer and split the roles of president and chief operating officer as part of series of leadership changes that will take effect on Sept. 1.

Bank of America completed a $2.1 billion bulk sale of nonperforming home loans in the second quarter, and is almost done with such dispositions, said Chief Financial Officer Bruce Thompson.

First Republic Bank (FRC) in San Francisco reported higher earnings for the second quarter, as strong revenue growth helped offset a rise in compliance costs.

Boston Private Financial Holdings (BPFH) has agreed to buy Banyan Partners, an investment advisory firm in Palm Beach Gardens, Fla.

Farmers & Merchants Bank (FMBM) in Timberville, Va., plans a preferred stock offering to raise $9.5 million.

First Commonwealth Financial Corp. (FCF) in Indiana, Pa., has launched a new residential mortgage banking division.

The Virginia and West Virginia bankers associations have intensified merger discussions and could combine into a single trade group by year's end, according to a report Tuesday from Richmond BizSense.

Investors Bancorp (ISBC) in Short Hills, N.J., has broken ground on the first of four new branches it plans to open on Staten Island in New York City.

Westamerica Bancorporation (WABC) in San Rafael, Calif., reported another decline in quarterly profits as low interest rates continued to reduce yields on loans and investment securities.