Americas

Umpqua Holdings (UMPQ) in Portland, Ore., reported a steep dip in quarterly profits because of merger-related expenses and lower mortgage banking revenue.

First Defiance Financial (FDEF) in Defiance, Ohio, isn't going to buy First Community Bank in Columbus, Ohio, after all.

Arrow Financial Corporation (AROW) in Glens Falls, N.Y., said Monday that its first-quarter earnings climbed nearly 3% from the same period last year, to $5.3 million, as its loan portfolio continued to expand and asset quality remained strong.

LAKEWOOD, Colo. — CU Service Network, here, has teamed up with fellow CUSO CUProdigy to offer a core software platform, following CUProdigy's rewrite of its core product.

The Portland, Ore., company aquired Sterling Financial last week. Though it created a $22 billion-asset regional player in the Pacific Northwest, CEO Ray Davis says the bank can keep its identify as a community bank.

Chemical Financial Corp. (CHFC) in Midland, Mich., said Monday that its first-quarter net income rose 5% from a year earlier, to $13.8 million, thanks largely to a double-digit increase in loans and improved credit quality.

SAN DIEGO — A thief used his cell phone to rob a credit union here late last week.

Independent Bank (IBCP) in Ionia, Mich., attributed a significant plunge in quarterly profits to a slump in mortgage refinancing activity.

Aquesta Financial Holdings (AQFH) in Cornelius, N.C., reported higher earnings that benefited from loan growth.

DALEVILLE, Ala. — Army Aviation Center FCU announced Monday that Robert (Bobby) Michael has been named the $1.1 billion credit union's new president and chief executive officer.