Banking

The $1.6 billion-asset KleinBank said it expects to buy the $207 million-asset Prior Lake by the end of this year. Financial terms were not disclosed.

Platte Valley Financial Services in Scottsbluff, Neb., is buying a bank it played a role in forming.

First Federal Bank of Wisconsin in Waukesha and Bay View Federal Savings and Loan Association are merging.

Middleburg Bank in Virginia has agreed to sell its 62% stake in the mortgage banking firm Southern Trust Mortgage to two Virginia banks and Southern Trust's president.

U.S. Bank has begun offering e-payment kiosks to companies that want to shrink lines during their stores' busiest hours.

More banks are deciding to invest millions in mobile banking, video tellers and core-processing upgrades after avoiding capital spending for a long time. They says it's a good move for the long term, but some will take heat from investors and other critics in the short run.

The Overseas Private Investment Corp.'s board of directors has approved a $200 million financing guarantee that will support Wells Fargo's lending to U.S. small and midsize firms that have set up shop abroad.

Senate Banking members examined concerns about alternative lending products such as payday loans on Wednesday, though consensus on what, if any, changes are needed to the industry remains elusive.

Four Oaks Fincorp (FOFN) in Four Oaks, N.C., could raise more than $27 million in a securities agreement and rights offering.

Bitcoin companies are getting more recognition as serious contenders, and as they grow they are filling their ranks with people who established their careers in the mainstream payments industry.

For mortgage lenders, "subprime" can sound like a dirty word, especially after the financial crisis. But now some mortgage companies, in search of new business, are starting to loosen their credit standards again. As some banks and nonbank lenders, including Wells Fargo and Carrington Mortgage, offer mortgages to less creditworthy borrowers, are the subprime mortgage floodgates about to open wide?

With more reliable loan data, Fannie Mae and Freddie Mac would have greater confidence that borrowers would not default. In return, lenders would receive a juicy carrot: fewer buyback requests.

Rilla Delorier, SunTrust's marketing chief, says banks need to work together to promote financial health and change behavior. "We have to do this to save our industry," she says.

A closely watched barometer of consumer confidence surged in March to its highest mark in more than six years.

The Year of Mobile Payments will arrive only when all of the key players — providers, merchants and consumers —are sufficiently motivated to change.

Circle Internet Financial, a startup aiming to make the digital currency Bitcoin more user-friendly for merchants and consumers, has raised another $17 million, bringing its total funding to $26 million.

Circle Internet Financial, a startup aiming to make the digital currency Bitcoin more user-friendly for merchants and consumers, has raised another $17 million, bringing its total funding to $26 million.

RealtyTrac, a company that provides housing and foreclosure data, announced Tuesday that it has entered the tax, deed and mortgage data licensing business, making it the first new entrant in the business in more than a decade.

United Community Banks (UCBI) in Blairsville, Ga., said it expects to report earnings of $14 million to $15 million for the first quarter.

The problem with data-driven decisions is that we don’t always like the result. Credit scores are recently falling into that trap.