Retail & Commercial

Foundation Bancorp in Bellevue, Wash., has sold $15 million of convertible preferred stock in a private offering.

Village Bank and Trust Financial in Midlothian, Va., has raised nearly $9 million by selling shares to existing investors.

Large mortgage servicers continued to shed delinquencies as overall loan performance improved in the fourth quarter, the Office of the Comptroller of the Currency said Friday.

United Community Banks took hefty hits during the financial crisis due to its focus on real estate lending. Today, the Georgia company is diversifying by building teams dedicated to SBA lending and making other specialty loans.

Retailers have been able to get credit card surcharge bans in California and New York thrown out by using an unusual legal argument based on the First Amendment. The wins are significant, but merchants still need to fight through a legal thicket before card surcharges become practical.

A federal court has halted the operations of a company that calls itself "FTC Credit Solutions." The company allegedly used false affiliation with the FTC to market bogus credit repair services to Spanish-speaking consumers.

First West Virginia Bancorp in Wheeling has removed the interim tag from William Petroplus' title as president and chief executive.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including thoughts on Wall Street's dwindling number of high-powered women and the merits and drawbacks of the CFPB's consumer complaint database.

Two investors in Central Pacific Financial are planning to sell 7.6 million shares in the Honolulu company

The Consumer Financial Protection Bureau's plans for revamping payday lending set off a fierce debate Thursday over whether the agency had gone too far or not far enough, proving that this is likely to be one of the trickiest rulemakings the agency will ever attempt.