Banking

Katahdin Bankshares (KTHN) in Houlton, Maine, has completed a $10 million private placement.

WASHINGTON — Regulators on Friday closed Freedom State Bank, in Freedom, Okla., the 12th institution to fail this year.

Banks would get protection from the Justice Department's investigation of mass-market consumer fraud under legislation sponsored by Rep. Blaine Luetkemeyer, R-Mo.

LendingClub Corp., the largest U.S. peer-to-peer lender, is planning an initial public offering in the second half of the year and may raise about $500 million, people with knowledge of the matter said.

M&T Bank (MTB) in Buffalo is embedding microchips in its commercial credit cards as part of a broader initiative to boost market share in the commercial card business.

Community-sized institutions with cybersecurity gaps are facing new attention from regulators under a pilot exam project.

Canadian Imperial Bank of Commerce, the lender that sold half its most popular credit-card portfolio last year, will offer a new card that rewards users with loyalty points for doughnut chain Tim Hortons Inc. (THI)

Needham Bank has too many loans and not enough deposits. Its solution — to aggressively add branches — runs counter to emerging trends in the banking industry.

Payment Alliance International has a deal with OnPoint Community Credit Union to apply OnPoint's branding to automated teller machines at all 72 Rite Aid pharmacies in Oregon.

New York is attracting financial technology startup companies and venture capitalists, who like the proximity to large banks. But watch out for London.

Customers Bancorp (CUBI) in Wyomissing, Pa., has raised $133.2 million in a private placement.

Ocwen hopes to do more with a novel transaction structure that transfers the prepayment risk of mortgage servicing rights. Other companies are exploring ways to finance a notoriously hard-to-finance asset.

Citizens Financial Group has hired Richard Hampson to be its president in Michigan. Hampson will also lead middle-market banking in Michigan for Citizens.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

The long-awaited rebound in credit card loans has arrived, fueled by looser credit standards and a larger appetite for debt among U.S. households.

Zombie foreclosures tend to erode local government tax revenue and have been commonly cited by local officials nationwide as a key reason for rising tax delinquencies prompting the increased use of third-party collection agencies.

United Community Banks (UCBI) in Blairsville, Ga., has acquired Business Carolina, a commercial lender in Columbia, S.C.

Bitcoin and other digital currencies will get more attention from the U.S. Consumer Financial Protection Bureau after prodding from a congressional watchdog.

A diverse group including troubled borrowers, low-income renters, mortgage-bond issuers and investors in those bonds will get a boost from new Treasury efforts to keep capital flowing in the mortgage market.

Bitcoin and other digital currencies will get more attention from the U.S. Consumer Financial Protection Bureau after prodding from a congressional watchdog.