The mortgage market has failed to shift from refinances to purchases as anticipated, according to the Mortgage Bankers Association's latest weekly report on applications.

The most notable quotes from American Banker stories of the previous week. Readers are encouraged to add their own observations in the Comments fields at the bottom of each slide.

Customers Bancorp in Wyomissing, Pa., (CUBI) plans to launch a virtual mobile banking platform in the third quarter of this year meant to make banking services more effortless for consumers.

Southern Missouri Bancorp (SMBC) in Poplar Bluff, Mo., has agreed to buy Peoples Banking Company in Nixa, Mo.

First United (FUNC) in Oakland, Md., has received regulatory approval to catch up on interest payments for certain obligations.

The $3.2 billion-asset company said in a press release Tuesday that Michael Mayer had been the chief executive of 1st Financial Services in Hendersonville, N.C.

An unsolicited offer from an unnamed institution prompted Team Capital Bank in Bethlehem, Pa., to explore selling itself.

The Brooklyn company points to the recently announced merger of Rockville and United Financial in the New England, along with other deal, as evidence that similarly sized banks can reach agreement.

Foundation Bancorp (FDNB) in Bellevue, Wash., has been released from an enforcement action issued by the Federal Deposit Insurance Corp. and state regulators.

Several community banks have started offering correspondent banking services, while others are expanding their products. Still, many banks are wary about repeating the mistakes of the past.

The Federal Reserve Bank of Richmond and the Virginia Bureau of Financial Institutions have terminated their regulatory agreement with Hampton Roads Bankshares (HMPR) in Virginia Beach and its subsidiary the Bank of Hampton Roads.

The $3 billion-asset company said in a press release Tuesday that Jack Allison will oversee the bank's banking, mortgage, small business, information technology and retail divisions, along with the operations of investment firm, Sun Financial Services, in a newly created post.

Synovus (SNV) in Columbus, Ga., is planning to replace two directors and pursue a 1-for-7 reverse stock split.

Fees on checking accounts continue to climb, especially at the largest banks, as free checking accounts slowly become an endangered species. But the price creep doesn't seem to have cost them customers.

OceanFirst Financial (OCFC) in Toms River, N.J., has added its president and chief operating officer to its board.

American National Bank in Oakland Park, Fla., has been freed from an enforcement action from the Office of the Comptroller of the Currency.

BancAlliance processed its first member referral for a shared credit, providing hope that banks are starting to regain trust in each other to land bigger borrowers.

The Baltimore company, which is looking to sell its bank through bankruptcy, secured a judge's support for a proposal requiring advance notice before big investors try and sell common stock.

Stilwell Group is irate that Poage Bankshares has agreed to buy another Kentucky bank. The activist investor would prefer to see the company buy back stock and, eventually, find a buyer.

First Citizens BancShares (FCNCA) in Raleigh, N.C., said that another key member of its controlling family is stepping down.