Americas

Peyton Patterson, president and chief executive of Bankwell Financial Group (BWFG) in New Canaan, Conn., has been ordered by a judge to pay more than $350,000 to American Express to address unpaid credit card bills.

Once the Puerto Rican company repays its Tarp funds, management will focus on growing in New York and south Florida. The company also hopes to benefit from any improvement in the Puerto Rican economy.

The company is suing Basswood Capital, claiming the activist hedge fund unlawfully accumulated a large stake by violating a confidentiality agreement. It also claims that Basswood's meddling resulted in a subpar capital raise last month.

Chesapeake Bank & Trust in Chestertown, Md., has begun searching for a new chief executive.

Hovde Group in Chicago has hired two former Sandler O'Neill research analysts to lead its equity research group.

Melissa Bean, a former three-term member of Congress, has been named chair of JPMorgan Chase's (JPM) Midwest business.

Popular Inc. (BPOP) in San Juan, Puerto Rico, has received regulatory approval to exit the Troubled Asset Relief Program.

Chemical Financial (CHFC) in Midland, Mich., expects to raise $70 million through the sale of common stock.

Meridian Bank Texas in Fort Worth has acquired State Bank & Trust in Carrolton, Texas.

Six directors resigned after the company contested an activist investor's successful effort to wrest board control. As a court battle looms and regulators watch, the company could struggle to find replacement directors.