Community West Bancshares in Goleta, Calif., has promoted Michael Phlaum to executive vice president and chief operating officer of its bank unit.

Eastern Bank, a mutual thrift in Boston, can only offer cash when trying to buy other banks. Many sellers prefer stock, but Eastern has been able to consistently make acquisitions using its all-cash approach.

Citadel EFT, a credit card processing firm, announced Tuesday that it is exploring ways to allow state-licensed marijuana businesses to accept electronic payments from their customers.

Zions Bancorp. (ZIONS) in Salt Lake City has named Scott McLean as its new president.

Many banks are eager to bulk up through acquisitions, but most have very specific criteria in what they want and are unwilling to settle for anything less, says McGladrey's Bob Browne.

Guaranty Federal Bancshares (GFED) in Springfield, Mo., plans to raise roughly $15 million in an initial public offering.

Eastern Bank in Boston has agreed to acquire Centrix Bank & Trust in New Hampshire in what would be Eastern's first expansion outside Massachusetts.

BBVA Compass (BBVA) of Birmingham, Ala., has opened two new banking centers in The Woodlands, Texas, a fast-growing suburb north of Houston.

Jay Sidhu's Pennsylvania company is building a separately branded bank that, like Simple, will target a demographic that feels no particular affinity toward traditional banks.

Regulators continue to make Bank Secrecy Act compliance one of their top priorities, according to newly available information on enforcement actions.

Bankers gathered for the ICBA convention in Hawaii say intensifying competition from larger players is prompting more discussion about the need to gain scale — most likely through consolidation.

Federal regulators are shining an increasingly harsh light on the debt collections practices of banks and third-party agencies, forcing many to drastically alter the ways in which they interact with delinquent consumers. American Banker outlines the changes underway and how they may trickle down to collections efforts around the nation.

S&T Bank (STBA) has opened a new branch in State College, Pa., and hired two local community bankers to expand its presence in the region.

The Office of the Comptroller of the Currency shuttered the $130 million-asset Millennium Bank in Sterling, Va., while Pennsylvania state regulators closed the $63 million-asset Vantage Bank in Horsham, Pa.

The Office of the Comptroller of the Currency has approved Horizon Bancorp's (HBNC) request to acquire SCB Bancorp of East Lasting, Mich., and its subsidiary, Summit Community Bank.

Bryn Mawr Bank in Pennsylvania starts every acquisition discussion the same way: the top talent agrees to stay or Bryn Mawr is not interested in pursuing a deal. It's a lesson for anyone considering buying or selling a bank.

Upstate New York banker John Buhrmaster will spend the much of the next year fighting for community banks as they struggle to keep pace with mounting regulations. But he also intends to remind his counterparts that it's crucial for them to find new income streams.

U.S. regional banks see favorable growth prospects in Canada. Its limited number of banks seems to invite competition, and its regulatory and economic climates are considered more favorable than those in the U.S.

A former employee of UMB Financial (UMBF) in Kansas City, Mo., has pleaded guilty to embezzling more than $650,000 from the company.

The three-year statute of limitations from when bank failures peaked has already passed, and yet filings of Federal Deposit Insurance Corp. suits against former officers and directors continue to grow.