Capital

The $34 million acquisition is expected to strengthen Central Valley's banking operations in northern California.

The acquisition will provide South State with more than $3 billion in assets and a larger operation in North Carolina.

Sierra will pay $36 million for the parent of the $257 million-asset Ojai Community Bank in a deal that should close by the end of this year.

The deal is the latest coastal acquisition for United Community. For HCSB, the sale is the final chapter in a turnaround that began 13 months earlier.

Mariner Kemper, UMB's chief executive, said he struggled with the decision to sell Scout Investments to Raymond James. Selling made more sense than pumping more capital into the beleaguered business.

The Office of the Comptroller of the Currency has given preliminary conditional approval for Winter Park National Bank, allowing organizers to work on office space, hire staff and raise capital.

The company has hired an investment bank to help it consider strategic alternatives, which could also include recapitalizing.

Stakeholders have until May 9 to offer their thoughts on how to design an additional source of capital for credit unions.

The deal, which is expected to close in the fourth quarter, values Cornerstone at $25.8 million.

Anchor's sale agreement comes less than a year after it put a representative of the activist investor Stilwell Group on its board.