Retail & Commercial

The Independent Community Bankers of America has asked a federal judge to reject a motion by the National Credit Union Administration petitioning for the dismissal of a lawsuit filed by the ICBA that challenges recent revisions to the agency's member business lending regulation.

The $9 billion-asset First Interstate said in a press release Thursday that it will pay $589 million, or $7.60 a share, for the $3.2 billion-asset Cascade.

NewDominion Bank in Charlotte, N.C., has a new president. The $325 million-asset bank said in a press release Wednesday that Tim Ignasher will also lead its commercial banking division.

Abington Bank in Massachusetts is planning to merge with Holbrook Co-operative Bank in Massachusetts.

Home BancShares in Conway, Ark., said in a press release Thursday that its bank has been declared the winning bidder for Bank of Commerce in Sarasota, Fla., as part of a bankruptcy auction.

Banks already have a difficult time collecting data on mortgage lending to minorities. New data requirements scheduled to take effect in early 2018 could lead to even more mistakes — and financial penalties — not to mention higher compliance costs and longer delays in closing loans.

Carter Bank in Virginia had been enjoying record profit until it was ordered to beef up Bank Secrecy Act compliance. The institution is the latest community bank to take a hit from enhanced oversight.

Behavioral biometrics has already stopped several million dollars worth of online banking fraud at National Westminster Bank in London.

Wells Fargo is continuing to sustain damage from the phony-accounts scandal that emerged in early September, according to new data published Thursday.

Sterling Bancorp in Montebello, N.Y., is planning to raise up to $81 million through a stock offering.