Retail & Commercial

Using an expanded view of credit data allowed collection agencies and debt buyers to increase their recovered dollars by up to 9%, according to a new study.

Carolina Trust Bank in Lincolnton, N.C., has named an auto dealership executive to its board.

The most productive and successful salespeople hear some version of “No thanks, I’m good” more than anyone else. This kind of daily rejection is just confirmation that they're doing their jobs correctly.

The U.S. Department of Education’s Office of the Inspector General issued a report stating the department failed to hold a student loan management company accountable for correcting deficiencies in its collection system.

Comerica has hired John Buchanan as its executive vice president of legal affairs.

Pacific Mercantile Bancorp in Costa Mesa, Calif., has reached an agreement to swap about 3 million shares of common stock for all of its outstanding preferred stock and warrants.

Colony Bankcorp in Fitzgerald, Ga., has redeemed about 17% of its Troubled Asset Relief Program preferred shares for about $4.3 million.

Prudential Savings Bank in Philadelphia has hired Douglas Smith to be its chief lending officer. Smith most recently served as chief credit officer at Noah Bank in Elkins Park, Pa.

Northwest Bancorp. in Spokane has raised $20 million from a private placement of common stock. Northwest plans to use some of the proceeds to complete its acquisition of Fairfield Financial Holdings, which was announced in late June.

Riverview Bancorp in Vancouver, Wash., has reached a truce with the activist investment firm Ancora Advisors.