Retail & Commercial

Virginia Commerce Bancshares (VCBI) in Arlington recorded a slight dip in quarterly profit as it waited for final approval of its merger with United Bancshares (UBSI).

First Mid-Illinois Bancshares (FMBH) in Mattoon has promoted the president of its bank to replace its retiring chairman and chief executive.

Morgan Stanley and Bank of America, owners of the world's largest brokerages, say the days of paying big bonuses to lure each other's brokers and keep their own in place may be ending.

United Community Banks (UCBI) in Blairsville, Ga., beat its third-quarter earnings estimates as costs from bad loans fell.

Bank of America is cutting about 1,300 more jobs in its mortgage division as the firm adjusts to lower demand, said two people with direct knowledge of the plans.

The defendants have collected and processed millions of dollars in payment for phantom debts, according to the Federal Trade Commission. Their practices generated almost 3,000 complaints to the FTC’s Consumer Sentinel.

Valley National Bancorp's (VLY) profit fell by nearly a third in the third quarter as the Wayne, N.J.-based company saw a substantial decrease in net gains on sales of residential mortgages.

Issuers of store-branded credit cards are facing new regulatory scrutiny over big retroactive interest charges that can hit borrowers at the end of a promotional period.

Cascade Bancorp (CACB) in Bend, Ore., has outbid another company to snag Home Federal (HOME) in Nampa, Idaho.

Bank of America Corp.'s Countrywide unit was found liable for defrauding Fannie Mae (FNMA) and Freddie Mac by selling them thousands of defective loans.