Retail & Commercial

Seacoast Banking Corp. of Florida (SBCF) in Stuart has begun a public offering to fund its exit from the Troubled Asset Relief Program.

WSFS Financial (WSFS) Chief Executive Mark Turner has been picked to lead a Delaware business group.

To prove the value of the merger of Provident New York Bancorp and Sterling Bancorp, executives have to increase revenues at a much faster pace than expenses over the long haul, CEO Jack Kopnisky says.

Fifth Third Bancorp (FITB) in Cincinnati named a new chief financial officer in connection with a tentative agreement to settle a Securities and Exchange Commission investigation into its accounting for commercial real estate loans in 2008, according to a Tuesday press release.

The directive bars banks that do business with Fannie and Freddie from receiving commissions from insurers, but still lets insurers provide services for free or at a reduced cost.

Bank of Nova Scotia, which bought ING's Canadian online bank last year, is renaming the business Tangerine in a move that sheds the last vestiges of its former owner.

Ally Financial Inc. (ALLY:US), the auto finance firm majority-owned by U.S. taxpayers, said third-quarter profit fell 76 percent as the company settled U.S. claims for soured mortgages and stopped making new home loans.

Community banks sustained a 27% decline in mortgage banking income last quarter, confirming the laments of individual banks during earnings season. Some banks are getting creative to try to revive their business in coming quarters, but it will be tough.

The Senate Banking Committee dug into the details Tuesday of how to ensure that community banks retain access to a reformed housing finance system as agreement over a broad approach began to emerge.

The use of prepaid debit cards at Cardtronics-owned ATMs continues to grow at a steady pace, with reloadable cards accounting for 16% of U.S. withdrawal volume during the third quarter.