Retail & Commercial

The Treasury Department announced Tuesday that it plans to sell off its shares in seven more community banks as part of its ongoing effort to wind down the Troubled Asset Relief Program.

More than 30 state trade associations have joined the Independent Community Bankers of America in urging Congress to extend the Transaction Account Guarantee program, which offers banks unlimited deposit insurance on transaction accounts.

Websites such as Amazon.com are often cited as the gold standard for the online experience, but turning your financial institution website into a carbon copy of a retailer site is neither practical nor wise. No financial institution can be, or should be, just like Amazon, yet there are some strategies and tactics that banks can borrow from online retailers, particularly when it comes to cross-selling.

An effort is gaining momentum to require banks that want municipal business to lend more in low-income neighborhoods. And it's not just mega-banks being targeted — smaller banks are seen as fairing worse in this type of lending.

Cartera Commerce has received $12.2 million in funding from a group of investors led by Comvest Group, the loyalty-shopping platform provider announced June 5.

In what would be its first acquisition in nearly a decade, Peoples Bancorp (PEBO) in Marietta, Ohio, announced Tuesday that it is buying Sistersville Bancorp in West Virginia for $9.8 million in cash.

Mortgage servicing company Nationstar Mortgage Holdings Inc. (NSM) has agreed to acquire roughly $10.4 billion in residential mortgage servicing rights from Bank of America Corp. (BAC) in a co-investment with Newcastle Investment Corp. (NCT).

OGDEN, Utah – Goldenwest CU plans to open a branch inside Dick’s Market grocery store in Centerville.

RALEIGH, N.C. – State Employees’ CU celebrated its 75th anniversary yesterday with the opening of a new branch in Durham Lowe’s Grove, the site of the state’s first rural credit union in 1916.

BNC, of High Point, N.C., would pay $35 million for First Trust, its fifth deal in the Carolinas in nine months.