Retail & Commercial

Old Point Financial in Hampton, Va., has agreed to nominate an activist investor's candidate for its board.

Independent Bank Corp. in Rockland, Mass., has agreed to buy New England Bancorp in Hyannis, Mass., the parent of Bank of Cape Cod, for $30.7 million.

C&F Financial in West Point, Va., has named Jason Long chief financial officer of the company and its Citizens and Farmers Bank subsidiary.

Texas Capital Bancshares in Dallas has hired a TD Bank executive to expand its lending to franchise-related businesses.

A small Connecticut bank takes the plunge into mobile-friendly mortgages in a bid to turn an attractive pool of student-loan borrowers into lifetime customers.

The service should help Uber better compete with Lyft, a rival app-based taxi service that can now pay its drivers instantly. It could also be provide a new revenue source for Green Dot's struggling GoBank unit.

Atlantic Bancshares in Bluffton, S.C., has raised about $4 million to redeem shares issued through the Troubled Asset Relief Program.

As one of the most antagonistic lobbying battles in Washington escalates -- where financial institutions like JPMorgan Chase and Visa are sparring with companies such as Walmart over credit card swipe fees -- a powerful ally is again sticking up for the retailers.

Umpqua Holdings in Portland, Ore., plans to close 26 branches in Oregon, California, Idaho and Washington state in an effort to cut costs.

Moody’s Investors Service, which put three of Citigroup’s securitizations of unsecured consumer loans originated by Prosper Marketplace under review for a downgrade, was not invited to rate the latest offering.