Retail & Commercial

Discover Financial Services reported a rise in quarterly profits Tuesday on strong growth in its loan portfolio.

Codorus Valley Bancorp in York, Pa., has agreed to buy Madison Bancorp in Baltimore.

ASB Bancorp in Asheville, N.C., has repurchased a block of stock from funds tied to activist investor Joseph Stilwell.

Mercantile Bank in Grand Rapids, Mich., reported a significant decline in earnings that was largely tied to merger-related costs.

City Holding in Charleston, W.Va., reported slightly lower quarterly profit because of a shrinking net interest margin and fewer gains from prior acquisitions.

Independent mortgage lenders are concerned that regulators will use the report as an excuse to raise minimum net worth requirements for smaller lenders.

John Thain had a clear answer for every question analysts posed about CIT's deal for OneWest. His takes on SIFI regulations, the mortgage business and retail banking challenge the conventional wisdom of many bankers.

Profits at Capital City Bank Group nearly doubled in the second quarter as the Tallahassee, Fla., company continued to shed problem assets.

The Georgia company is also planning a marketing campaign to promote its brand and expanded technology offerings.

Union First Market Bankshares' acquisition of StellarOne paid dividends in the second quarter. The Richmond, Va., company reported a profit of $14.8 million, up 56% from a year earlier.