Americas

The Colorado state legislature could decide soon if a new type of financial services co-operative — though not a credit union — will be created to serve the marijuana industry in the state.

DENVER — The Colorado state legislature could decide soon if a new type of financial services co-operative — though not a credit union — will be created to serve the marijuana industry in the state.

HOBBS, N.M. — After 18 months of heading two New Mexico credit unions 18 miles apart, CEO Mark Roddenberry is delighted $45 million Lea Community Federal Credit Union and $13 million Estacado Credit Union have officially merged.

Floridian Financial Group in Lake Mary, Fla., is merging its subsidiaries, Orange Bank of Florida in Orlando and Floridian Bank in Daytona Beach, under the Floridian Bank name.

S&T Bancorp (STBA) in Indiana, Pa., saw its first-quarter profits rise 14% from the same period last year, to $14 million, due to organic loan growth, and improved expense control and asset quality.

CertusBank in Greenville, S.C., continues to lose money, largely because of high expenses. The $1.6 billion-asset company lost $9 million in the first quarter, according to a call report filed with the Federal Deposit Insurance Corp.

Fueled by strong loan and deposit growth, BBVA Compass in Birmingham, Ala., said Thursday that its first-quarter profits climbed 4% from the same period last year, to $114 million.

Sterling Bancorp (STL) in Montebello, N.Y., said that its fiscal second-quarter profit rose 58% after it expanded through its merger with Provident New York Bancorp.

WASHINGTON — The Consumer Financial Protection Bureau proposed several changes to its biggest mortgage rules on Wednesday which would effectively allow lenders to get more loans defined as "qualified mortgages."

Four nonbank lenders have agreed to reimburse consumers and pay penalties in connection with medical loans that violated New York usury and other laws, state Attorney General Eric Schneiderman said Wednesday.