Retail & Commercial

The U.S. regulator overseeing Fannie Mae, Freddie Mac and the Federal Home Loan Banks has hired a consulting firm to create contingency plans for taking the mortgage-finance firms into receivership, according to contract documents.

S&T Bancorp's second-quarter profit fell 36% from the same quarter last year, to $8.6 million, as gains in fee income could not offset narrowing margins and an uptick in problem loans.

Northwest Bancshares (NWBI) in Warren, Pa., posted higher second-quarter earnings after delinquent and nonaccrual loans fell to their lowest levels in four years.

As smartphones with Near Field Communication become more common, the global market for NFC payments will grow to exceed $180 billion by 2017, a nearly eight-fold increase from $23 billion this year, a new report projects.

The Renton, Wash., company has spent more than $600,000 to fight an big outside investor, highlighting the cost of duking it out with irate shareholders.

Strong gains in fee income combined with improved asset quality powered West Coast Bancorp in Lake Oswego, Wash., to a $6 million profit in the second quarter, up 30% from the same period in 2010.

As banks try to raise revenue and improve their reputations, they are shaking up their relationships with the "mad men" of Wall Street, testing out new advertising to help refurbish their brands.

ALEXANDRIA, Va. – Pentagon FCU announced this morning its Prudential PenFed Realty CUSO has acquired Prudential Professional Realty in Clarksville, Tenn., an independent franchise outside the Fort Campbell, Kentucky, military base, which has been rebranded as Prudential PenFed Realty.

Bank of America began offering EMV chip technology for many of its consumer credit cards. It already offers chip-based cards to corporate and commercial customers in the U.S. and Europe.

Howard Bancorp in Ellicott City, Md., has raised $10.2 million through a public offering and private placement of common stock.