Retail & Commercial

The former head of the bankrupt Mt. Gox Co. bitcoin exchange was originally believed by U.S. investigators to be the secret mastermind behind the Silk Road online drug marketplace, an agent who infiltrated the website told jurors at the trial of the man prosecutors now accuse of running it.

The Washington State Department of Financial Institutions (DFI) Consumer Services Division announced this week that it has fined illegal payday lenders more than $280,000 in fines since 2013.

PNC Financial Services Group in Pittsburgh reported flat earnings from a year earlier due to a slight drop in revenue and marginally higher costs.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and from our social media platforms and sister publications.

First Sound Bank in Seattle has agreed to buy Eastside Commercial Bank in Bellevue, Wash.

Home Financial Bancorp in Spencer, Ind., has hired a consulting firm after the unexpected death of its chief financial officer.

SVB Financial in Santa Clara, Calif., has agreed to sell a specialty finance business in India at a net loss.

SunTrust Banks in Atlanta reported lower fourth-quarter profits as legal costs related to mortgages offset an increase in loans and deposits.

Home BancShares in Conway, Ark., swallowed $1.7 million of merger-integration costs in the fourth quarter, capping a year of investment in its expansion.

Profits at People's United Financial in Bridgeport, Conn., edged up in the fourth quarter thanks to fee income and loan growth.