Retail & Commercial

Park Sterling Corp. (PSTB) in Charlotte has agreed to buy Provident Community Bancshares (PCBS) in Rock Hill, S.C.

U.S. consumers spent an average of $87 per day last month, a strong rebound from $78 in January, which had been the lowest estimate in 14 months, according to Gallup.

Ripple Labs, which facilitates payments in mainstream and virtual currencies, is creating a developer portal and supporting a new accelerator. Already its efforts have made it possible to connect the Ripple payment network to websites that run on Magento's e-commerce platform.

Flexcoin, a Bitcoin bank, was forced to shutdown after hackers stole 896 units of the digital currency, the Guardian newspaper reported.

Community West Bancshares in Goleta, Calif., has promoted Michael Phlaum to executive vice president and chief operating officer of its bank unit.

Eastern Bank, a mutual thrift in Boston, can only offer cash when trying to buy other banks. Many sellers prefer stock, but Eastern has been able to consistently make acquisitions using its all-cash approach.

Citadel EFT, a credit card processing firm, announced Tuesday that it is exploring ways to allow state-licensed marijuana businesses to accept electronic payments from their customers.

Zions Bancorp. (ZIONS) in Salt Lake City has named Scott McLean as its new president.

Many banks are eager to bulk up through acquisitions, but most have very specific criteria in what they want and are unwilling to settle for anything less, says McGladrey's Bob Browne.

The boards of directors of HomeTrust Bancshares (HTBI) and Bank of Commerce have reached a definitive agreement to form a strategic partnership for an undisclosed price.