Retail & Commercial

United Community Financial in Youngstown, Ohio, has begun a $42 million capital raise.

JPMorgan Chase & Co. said fourth-quarter profit rose 53%, beating analysts' estimates as record low interest rates fueled mortgage lending.

Bank of New York Mellon Corp., the world's largest custody bank, said fourth-quarter earnings rose 23% as higher client assets boosted revenue.

Apple Inc. introduced installment payment plans for buyers of iPhones and MacBook laptops in China as it struggles to compete with low-cost devices in the world’s largest computer and mobile-phone market.

Thomas Candillier, the Paris-based head of European cash equity sales at JPMorgan Chase, has died at the age of 37.

The mega-retailers' Merchant Customer Exchange venture argues that the mobile-payment system it is developing will appeal to retailers in a way no other mobile wallet can. That’s leaving some companies divided on which mobile approach is best—MCX's focus on gaining retailer acceptance or the emphasis on consumer adoption championed by Isis and others.

Bank of America (BAC) has promoted a veteran executive to lead its commercial banking business as part of its latest shuffle of senior managers.

Fulton Financial (FULT) in Lancaster, Pa., reported a bump up in profit in the fourth quarter despite declines in interest income.

Alvin Kang, CEO of BBCN, is said to have resigned after a disagreement with his board. His departure could clear the way for a deal for Hanmi Financial and raises the prospect of industrywide succession fights as banks consolidate.

Credit card delinquencies fell across the board at the Big Six issuers in December, reversing the deterioration during the fall.