Americas

Investors Bancorp (ISBC) in Short Hills, N.J., announced Monday that it is selling an undisclosed number of shares to the investment banks that managed its recent stock sale.

WASHINGTON — Congress is still out for recess, but the credit union lobby is gearing up for two important hearings in the Senate when members return next week.

Washington Trust Bancorp (WASH) in Westerly, R.I., reported a rise in quarterly profit after it sold its merchant-processing business.

Capital Group Cos., the third- largest manager of U.S. mutual funds, urged 800,000 customers to change account passwords and other information to protect themselves from risk caused by the Heartbleed computer bug.

First Security in Owensboro, Ky., has raised $30 million through a private placement. The $500 million-asset company said it would use the funds for organic growth and "acquisitive opportunities."

Home BancShares in Conway, Ark., has agreed to buy Florida Traditions Bank in Dade City, Fla. The $6.8 billion-asset Home said it will pay $43 million stock for the $312 million-asset Florida Traditions.

RKJS Bank, an interim company formed by a group of local Baltimore investors, won First Mariner's bankruptcy auction Tuesday after National Penn Bancshares (NPBC) in Allentown, Pa., withdrew its offer.

The Federal Reserve prohibited a former Missouri bank chairman from involvement in any bank management after he admitted to using federal bailout money to buy a luxury condominium.

Investors Bancorp (ISBC) in Short Hills, N.J. reported a surge in quarterly profit because of a stronger balance sheet.

Sandy Spring Bancorp in Olney, Md., said its first-quarter profit rose 3% from a year earlier, to $10.9 million. The improvement was largely because of loan growth, changes in funding costs and efforts to increase wealth management and insurance revenue, the company said.