Retail & Commercial

The $769 million-asset bank said in a press release that Joseph DeVito had become its president and chief executive. DeVito succeeded Kenneth Brennan, who will become Village Bank's chairman.

John Blizzard, who has more than 23 years of banking and financial services experience, most recently served as president and chief executive of Northwest Bank in Boise, Idaho. He succeeded Patrick Patrick, who has been the $216 million-asset Seattle Bank's CEO for four years.

Jacksonville Bancorp (JAXB) in Florida is eliminating 16% of its work force to cut costs.

Bankwell Financial Group (BWFG) of New Canaan, Conn., raised nearly $49 million through its initial public offering.

Summers — a World War II veteran, businessman and civic leader in southeast Texas — was a director of the bank since 1951, including more than two decades as chairman. He died Tuesday at 95.

Under pressure from the Federal Deposit Insurance Corp. to increase its capital levels, Doral Financial (DRL) is selling its health care lending division to Triumph Bancorp in Dallas.

As the market slows for post-downturn, private-label, residential mortgage-backed securities – known as RMBS 2.0 –an industry group thinks it's time to start preparing for version 3.0.

Buyers still exist for mortgage platforms. The problem is that the gap in pricing expectations for buyers and sellers has widened since refinance activity stalled last summer.

Alice Hensen, president of the Bank of Sun Prairie in Wisconsin, is one of the many bankers who delayed retirement to help their banks survive the financial crisis. She is stepping down now that her bank's troubles are past and hopes it can find some "new blood."

Pulaski Financial (PULB) in St. Louis is looking to convert to a national bank from a federal savings bank.