Retail & Commercial

Webster Financial in Waterbury, Conn., has promoted its head of commercial banking to president of Webster Bank and its holding company.

United Bankshares in Charleston, W.Va., recorded profit growth in the third quarter on higher average earning assets.

California’s Richmond Community Foundation will pursue a new social impact bond vehicle with a $3 million revenue bond private placement it hopes to close next month with the local Mechanics Bank.

Bank of America in Charlotte, N.C., is selling 23 branches in West Coast states. The bank also plans to sell a total of $1.2 billion in deposits and $821,000 in loans to TriCo Bancshares in Chico, Calif.; Bank of Commerce Holdings in Redding, Calif.; and Cascade Bancorp in Bend, Ore.

Ally Financial in Detroit drew more deposits into its online bank last quarter, which helped improve its lending margin even as profits declined.

The RushCard debacle should lead to consumer improvements, but it should not undercut the progress prepaid has made in helping consumers manage their finances.

Spencer Savings Bank and Southbridge Savings Bank in Massachusetts have agreed to merge in a combination of mutual thrifts in the Worcester, Mass., area.

MB Financial in Chicago has agreed to buy an asset management firm.

Opus Bank in Irvine, Calif., has promoted Jennifer Simmons to chief operating officer and appointed her to the executive committee.

BOK Financial in Tulsa, Oklahoma, reported a small drop in third-quarter profit, as a decline in the value of mortgage servicing rights offset loan and fee income growth.