Retail & Commercial

The $3.6 billion-asset Simmons First said Thursday that it plans to pay $53.6 million in cash for the Little Rock, Ark., bank.

Three years after constructing a database aimed at standardizing the home appraisal process, Fannie Mae and Freddie Mac are still finding serious discrepancies in many appraisals submitted by mortgage lenders.

Capitol City Bank & Trust in Atlanta has named Chief Operating Officer John Turner its new president and chief executive.

The top leaders of the Senate Banking Committee said Thursday that they intend to reach a bipartisan agreement by yearend on a bill to revamp the mortgage finance system despite fears that the issue is losing momentum.

The Treasury Department plans to auction nearly $118 million of shares in six lenders as it continues to wind down the Troubled Asset Relief Program.

Fortress Investment Group hired Michael Nierenberg, Bank of America's head of global mortgages and securitized products, as a senior executive in its private-equity business, according to a person with direct knowledge of the matter.

Landmark Community Bank in Collierville, Tenn., has agreed to acquire the central Tennessee assets of Cadence Bank, according to a report.

Sober presentations from CEOs normally dominate the Barclays Global Financial Services Conference in New York, but instant interactive polls and a piano-bar soundtrack gave this year's get-together an offbeat feel.

An activist investor with a reputation for pressuring management teams is pushing for a seat on the board of Malvern Federal Bancorp in Paoli, Pa.

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