Banking

Independent Bank Corp. in Ionia, Mich., reported lower second quarter earnings as income related to mortgages fell dramatically.

Old National Bancorp in Evansville, Ind., has agreed to acquire Founders Financial in Grand Rapids, Mich., for $88.2 million in cash and stock.

Zions Bancorp. in Salt Lake City is planning to raise $525 million in fresh capital to satisfy regulators' concerns about its ability to withstand a severe economic downturn.

Ohio Attorney General Mike DeWine countered criticism of alleged favoritism in the state's debt collection program by announcing his office had a record year in collecting money owed to the state.

The solar industry is still developing, but Mercatus CEO Haresh Patel has suggestions for banks that want to get in on it now.

Under CEO Betsy Cohen, The Bancorp is plugging alternative financial services upstarts into the banking system. But a regulatory hiccup could hinder growth.

Covenant-Lite was a hot trend in 2007. It turns out that was just the beginning.

Theories abound. So do bankers' frustrations. And regulators like FinCEN Director Jennifer Shasky Calvery promise the toughened stance is here to stay.

Performance among banks and thrifts with $2 billion to $10 billion of assets has not changed much over the past year, judging from our annual ranking.

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GreenChoice Bank in Chicago is the fourteenth failure this year. An investment group seeking to establish an environmentally friendly bank saved the thrift from collapse four years ago, but it fell on hard times again.

Banks can't live with commercial lending and can't live without it these days, two earnings reports Friday showed. First Niagara's commercial loans rose while TCF's fell. But TCF's margin is much higher and fell less sharply than First Niagara's.

Prosperity Bancshares in Houston reported record profits in the second quarter as two recent acquisitions substantially boosted interest and fee income.

It sounds liked a great business formula: home loans soared at several megabanks last quarter after they spent months cutting thousands of jobs to save costs. But executives remain concerned about profit potential because market shifts and new regulations are making mortgage lending more expensive.

PHH Corp. has put its president and CEO in charge of its mortgage subsidiary, the unit's fourth top executive in two years.

Ikea billionaire Ingvar Kamprad made his fortune helping the world stay frugal with cheap home furnishings. The same model is now being peddled at his bank, where customers get rewards for resisting luxury.

If there's one lesson bankers can take away from the hacking incident at the online ticket seller StubHub, it's that they need to educate their customers about the dangers of using the same passwords on multiple sites.

Community banks need to rethink their technology and marketing to ensure they are snagging a piece of the millennial generation. Big banks have the lead in reaching this demographic, but they are vulnerable, experts said.

Investors Bancorp in Short Hills, N.J., reported a steep drop in second-quarter profits from last year, as operating expenses far outpaced returns from loans and other business lines.

Regions Bank in Birmingham, Ala. has been approved as a Fannie Mae Delegated Underwriting and Servicing multifamily lender and acquired the servicing on a $1 billion Fannie apartment loan portfolio.