Retail & Commercial

First National Community Bancorp. (FNCB) in Dunmore, Pa., has promoted three executives.

WASHINGTON — Fannie Mae and Freddie Mac filed paperwork Monday to merge the two companies' securitization platforms into a single unit, according to the Federal Housing Finance Agency.

The Congressional Black Caucus Foundation is giving $1 million apiece to five African American-owned banks in an effort to create more lending opportunities for people and businesses in minority communities.

JGWPT Holdings Inc., the firm that offers cash for settlements under the J.G. Wentworth brand, filed to raise $200 million in an initial public offering.

A breakdown of M&A announcements in the financial services industry for the week ended Oct. 5

The alarm blaring in the New York headquarters of Amalgamated Bank, where the Democratic National Committee and Occupy Wall Street are clients, didn't bother the two pinstriped executives sitting still with legs crossed.

Community bankers should opt out of the requirement to deduct unrealized gains and losses from AOCI; be aware of the challenges and opportunities that Basel III creates for M&A and capital raising; and stay on guard for changes to risk weighting of mortgages, experts say.

Several community banks are scrambling to address Tarp balances, either by selling or refinancing, as the dividend rate on those shares is set to nearly double.

The Treasury Department plans to auction stakes in eight more banks as it continues winding down the Troubled Asset Relief Program.

Jacksonville Bancorp in Florida has closed the sale of $5 million worth of common stock.