Retail & Commercial

The chief risk officer of Scotiabank in Toronto is retiring, prompting several senior management changes.

Independent Bank in Ionia, Mich., is back on track with payments on its trust preferred stock.

WSFS Financial in Wilmington, Del., has repurchased preferred shares it issued the Troubled Asset Relief Program.

Columbia Commercial Bancorp (CLBC) in Hillsboro, Ore., has completed a $6.6 million capital raise through a private placement offering.

Citizens Bank of Northern Kentucky has named Stephen Brunson its president and chief executive, replacing interim chief David Van Horn, who remains a director.

The acquisitive Prosperity Bancshares in Houston is set to slow its growth following a deal for Tulsa's F&M.

The banking industry enjoyed a second consecutive record quarterly profit in the three months through June, according to the FDIC. But lower unrealized gains on available-for-sale securities sparked concerns about future risks from rising interest rates.

Retail giant Target is touting its success with a debit card that poses a threat to banks, but it's unclear whether other merchants will be able to follow suit.

Former Citigroup payments executive Raja Rajamannar will be the new chief marketing officer at MasterCard, effective September 9.

A new Jack Henry program can speed EMV-chip card migration for card issuers by up to a year — but only for credit cards, since ongoing legal issues hamper the use of EMV for debit cards.