Retail & Commercial

The American Bankers Association has formed a group to lobby on behalf of rural lenders.

Southwest Bancorp in Stillwater, Okla., has redeemed a series of trust-preferred securities.

In an email to employees, Jamie Dimon said the company is focused on eliminating products and services that aren't core to the business, while also boosting compliance with regulatory initiatives and improving oversight of outside vendors.

Widespread adoption of same-day settlement will level the competitive playing field for all financial institutions and allow all account holders to benefit from expedited settlement.

Community Valley Bank in El Centro, Calif., has hired a new chief executive.

NCAL Bancorp in Los Angeles has agreed to a recapitalization that would give it new ownership.

The third quarter is nearly over, and the news from the trenches is bad. Loan demand is weak. Mortgage volatility caught many bankers off guard. And the only way to make a buck is to buy or sell assets, executives said at the recent Barclays Global Financial Services Conference in New York, the American Mortgage Conference in Raleigh, N.C., and elsewhere.

Cortland Bancorp in Ohio is exiting the wholesale-mortgage business.

Old Line Bancshares in Bowie, Md., has raised $12 million through a private placement.

Wells Fargo & Co. (WFC), the largest U.S. home lender, would survive $29.7 billion of loan defaults under a company-run stress test and stay above minimum regulatory capital levels in a severe economic downturn.