Retail & Commercial

A founding director of Santa Clara Valley Bank has been elected as chairman. Scott K. Rushing replaces Ralph Rueda De Leon, who has served as chairman for the last three years. Additionally Elias F. Valdes was elected as vice chairman.

The market-making arm of Citigroup Inc. suffered losses of about $20 million on trades made during last Friday's glitch-plagued listing of Facebook Inc. on the Nasdaq Stock Market, according to persons familiar with the matter.

Bank dealmaking is no place for vanity, MidSouth CEO Rusty Cloutier says. Sellers need to get real about their prospects, and buyers and sellers need to look beyond face value and short-term valuations, he says in a Q&A.

The Office of the Comptroller of the Currency has lifted an agreement against Stillwater National Bank and Trust in Payne, Okla.

First Republic Bank in San Francisco is planning to raise $150 million through a preferred stock offering.

The Consumer Financial Protection Bureau is the first financial regulator that must meet face-to-face with small business to consider ways to minimize a rule's impact.

Problem loans continue to haunt Riverview Bancorp (RVSB). The Vancouver, Wash., company on Friday restated its results from last quarter and increased its loan-loss provision for the third time in recent months.

The veteran football player will join the Lafayette, La., company's advisory board. Delhomme started his pro career with the New Orleans Saints.

PNC Financial Services is changing its formula for calculating some bonus rewards points, in the latest example of a bank scaling back on perks for card customers.

Lehman Brothers Holdings Inc. confirmed its will buy the 26.5% stake in Archstone it doesn't already own for $1.58 billion, ending a high-stakes battle over the control of the apartment giant.