Americas

The head of a California mortgage lender who perpetrated a $5.3 million mortgage fraud scheme against Ally Financial will serve more than four years in prison.

Seacoast Commerce Bank (SCCB) in San Diego has opened a new loan production office in Boise, in an effort to extend its Small Business Administration lending business to Idaho and eastern Washington.

The Arkansas company has been aggressive this year, agreeing to buy banks with a total of $3.4 billion in assets. The buying spree is partially driven by a currency lifted by a bankruptcy deal Simmons First completed last year.

DOTHAN, Ala. — The National Credit Union Administration Wednesday approved the sale of Flint River National Bank to $260 million Five Star CU here, and the deal is scheduled to close in early June.

United Bank in Zebulon, Ga., has agreed to acquire Monroe County Bank in Forsyth, Ga.

FirstBank in Lakewood, Colo., has opened a new branch in Denver's newly renovated Union Station building.

READING, Pa. — Two credit unions' branches have become targets for thieves.

United Bank of Glastonbury, Conn., has hired three experienced former Bank of America mortgage bankers in West Springfield, Mass.

Waterford, Mich. — Oakland County Credit Union and BestSource Credit Union said they will merge effective Sept. 1 to create a credit union with almost $300 million in assets, 31,000 members and six branches.

Simmons First National (SFNC) in Pine Bluff, Ark., has agreed to buy Liberty Bancshares in Springfield, Mo.