Retail & Commercial

Bank of America will post a $600 million pretax writedown in the fourth quarter as it redeems $2 billion of trust preferred securities tied to its 2009 acquisition of Merrill Lynch.

The $390.1 million-asset company said in a press release Tuesday that it has agreed to sell common stock to institutional investors led by Patriot Financial Partners.

If dead men tell no tales, that makes identity theft of deceased account holders all the harder for card issuers to combat, particularly when the perpetrators are bank insiders.

Cortland Bancorp in Cortland, Ohio, is set to add a pair of former bankers to its board.

Far from the madding crowd, the GE spinoff Synchrony runs an innovation lab in Stamford, Conn., that is buzzing with pragmatic projects and a culture that promotes collaboration and quick execution of new ideas.

If dead men tell no tales, that makes identity theft of deceased account holders all the harder for card issuers to combat, particularly when the perpetrators are bank insiders.

Calumet Bancorp. in Chilton, Wis., has agreed to buy Calumet Bancshares in Brillion, Wis.