Retail & Commercial

F.N.B. Corp. (FNB) in Hermitage, Pa., is establishing a regional headquarters in downtown Cleveland.

The $857 million-asset company tapped Jerry Rexroad to succeed John Russ, a company spokeswoman said on Thursday. Rexroad has been chairman and CEO of affiliate Crescent Mortgage.

Technology is among the biggest expenses for small banks, so it is important for managers to read the fine print before finalizing a contract.

The Merchant Customer Exchange (MCX), a mobile payments initiative created by major retailers, will use technology from FIS to speed processing and provide access to accounts at a large range of financial institutions.

Signature Bank in New York City has lured a group from HSBC as it continues its private-banking push.

The payment processor Global Payments Inc. will offer its U.S. merchant customers an iPad point of sale system from ShopKeep POS.

Commerce Bancshares in Kansas City, Mo., reported lower quarterly profit as interest income fell and credit costs spiked.

Chemung Financial in Elmira, N.Y., has agreed to buy six branches in upstate New York from Bank of America.

Bank of America's proposed $500 million settlement with a class of investors in residential mortgage-backed securities issued by its Countrywide Financial unit needs more explanation before it can be approved, a judge said.

Miami's foreclosure rate ranked at the top of major U.S. metropolitan areas last month as auctions more than tripled, signaling lenders are preparing to sell a backlog of distressed properties amid rising home prices.