EMEA

The Federal Reserve on Thursday released information on written agreements with five banking companies.

Brand Group Holdings Inc. in Lawrenceville, Ga., said Wednesday that it had raised $200 million in capital through a number of well-known private-equity groups.

Georgia United Credit Union in Atlanta said Monday that it had completed its merger with State Employees Credit Union over the weekend.

Several frequent buyers of failed banks struck new deals with regulators on Friday for another batch of collapsed institutions. In total, the Federal Deposit Insurance Corp. took five banks into receivership, with a total of $2.16 billion in assets.

United Community Bancshares Inc. in Blairsville, Ga., has not reported a profitable quarter since mid-2008, but its chief executive said Thursday that he expects that to change starting this quarter.

Six banks in four states met their demise and two new banks were chartered in their ashes in perhaps the busiest night the Federal Deposit Insurance Corp. has had so far in 2011.

A pair of banking companies said late Wednesday that they had left the Troubled Asset Relief Program.

State Bank Financial Corp. in Atlanta said late Wednesday that it received approval to start trading on the Nasdaq Capital Market.

Many of these young banks are treading water, at best, waiting for the elusive rebound while coping with higher compliance costs.

The $7.4 billion-asset company said its board has also approved a plan to sell about $293 million in substandard and nonperforming loans and $142 million in foreclosed properties.