Retail & Commercial

Highlands Bancorp (HSBK) in Vernon, N.J., has raised $5 million by placing subordinated debt.

U.S. student loan debt rose to a record $1.2 trillion for the first quarter ended March 31, following a $31 billion jump, the Federal Reserve Bank of New York reported.

With Credit Suisse Group AG poised to become the first bank in more than a decade to admit to a crime in the U.S., regulators have been reaching out to some of the firm's biggest business partners to avert a panic, according to a person briefed on those communications.

Deutsche Bank AG is marketing its inaugural issue of subordinated bonds designed to absorb losses while allowing a troubled lender to remain in business.

Solera National Bancorp (SLRK) in Lakewood, Colo., has one less activist investor to worry about. The $168 million-asset company disclosed late Friday that Kathleen Stout, a former company executive, has withdrawn her nomination of eight director candidates.

Malvern Bancorp (MLVF) in Paoli, Pa., is facing activist pressure to sell itself.

San Antonio Mayor Julian Castro is in line to head the Department of Housing and Urban Development, part of an administration reshuffling that would bring a Democratic up-and-comer to President Barack Obama's cabinet.

Illinois state regulators closed the $66.3 million-asset AztecAmerica Bank in Berwyn on Friday.

Sandy Spring Bancorp (SASR) in Olney, Md., said its second-quarter earnings will be reduced after a Maryland jury awarded a $6.05 million verdict in a case involving a former employee.

The $1.7 billion-asset Carlile — founded in 2009 to acquire banks in Texas and elsewhere — has agreed to buy Community Bankers Inc., Carlile President Don Cosby said Friday.