EMEA

Since calling off a round of capital-raising last fall, Citizens South Banking Corp. has adopted a more opportunistic approach to raising funds.

Regulators closed three banks Friday, including the largest bank subsidiary of bankrupt Advanta Corp., to bring the year's failure toll to 33.

PAB Bankshares Inc. in Georgia says it plans to raise $85 million through a common stock offering.

The parent company of HeritageBank of the South in Albany, Ga., announced a deal Thursday to acquire five branches from the Park Avenue Bank, which has struggled with credit-quality problems.

WASHINGTON — For the second Friday in a row, the Federal Deposit Insurance Corp. relied on new-bank capital to find homes for the operations of failed institutions.

Loan sales helped a growing number of community banks push some of their problems out the door in the fourth quarter.

With nonperforming assets declining and two consecutive profitable quarters under its belt, the Atlanta company is planning for a year of black ink.

A new round of watchdog reports says the Federal Deposit Insurance Corp. could have been tougher in regulating three community banks that later closed.

The $1.2 billion-asset company said Tuesday in a filing with the Securities and Exchange Commission that it exchanged $1.1 million of fixed-rate subordinated notes for 2.2 million shares of common stock in a deal with seven investors, including one board member.

The board of directors of United Community Banks Inc. in Blairsville, Ga., said Tuesday that it was temporarily suspending its quarterly dividend to avoid further dilution of its shares and improve its liquidity.