Capital

Summit Financial Group in Moorefield, W.Va., said its employee stock-ownership plan has acquired a stake in the company from a Louisiana bank.

The first stress tests for regional banks show loan losses closely in line with the postcrisis period. However, an independent analysis suggests losses likely would be even higher.

First Foundation in Irvine, Calif., has begun an initial public offering to raise up to $100 million.

The bank plans to use the proceeds for general corporate purposes, including possible acquisitions such as potential FDIC-assisted transactions. Iberiabank may also use the proceeds for working capital and for investments in subsidiaries to support continued growth.

United Community Banks in Blairsville, Ga., has filed a shelf registration for senior notes to help pay for its acquisition of a South Carolina bank.

While rising rates may temporarily improve net interest margin and profits, they will not increase bank stock prices for at least three reasons.

Pinnacle Financial Partners in Nashville, Tenn., plans to raise $60 million in subordinated debt in a private placement.

A fifth of the financial institutions that participated in the Small Business Lending Fund have fully left the program and an increasing number of banks are joining them before the dividend rate jumps to 9% next year.

What asset threshold? Community banks may not be required by law to conduct stress tests, but about one in three have been asked by their examiners to do so, according to a recent survey of banks.