Retail & Commercial

Western Alliance (WAL) in Phoenix reported a drop in quarterly profits largely because of debt valuation adjustments.

Prosperity Bancshares (PB) in Houston, riding its recent wave of acquisitions, posted higher quarterly profit.

Fair Debt Collection Practices Act lawsuits decreased for the second consecutive year in 2013, down 10 percent from 2012, which itself was down 7 percent from 2011. Telephone Consumer Protection Act litigation exploded in 2013, up 69 percent from 2012.

The online lender Western Sky and the online loan servicer CashCall agreed to pay $1.5 million in penalties and stop collecting interest on outstanding loans to New York borrowers in a proposed settlement with New York Attorney General Eric Schneiderman.

First Niagara Financial Group (FNFG) in Buffalo, N.Y., met quarterly estimates and announced a plan to invest heavily in technological improvements as it moves beyond its recent phase of rapid growth.

Hancock Holding (HBHC) in Gulfport, Miss., missed earnings estimates in the fourth quarter as the company took $17.1 million in charges related to cost-cutting measures.

New York regulators have reached a settlement with Western Sky Financial LLC, CashCall Inc., WS Funding LLC and their owners, Martin Webb and J. Paul Reddam, for violating the state's usury and licensed lender laws in connection with personal loans they made over the Internet.

Bank of Nova Scotia's ING Direct unit sees growth potential in wealth management after it completes efforts to add deposits and customers and introduces a credit card, said Peter Aceto, who heads the business.

Washington Federal (WAFD) in Seattle has agreed to buy 23 Bank of America (BAC) branches in Arizona and Nevada.

Texas Capital Bancshares (TCBI) in Dallas is planning to raise up to $102.4 million via a public offering of common stock. Texas Capital plans to sell 1.7 million shares at $60.25 per share.