Old Second Bancorp (OSBC) in Aurora, Ill., joined the growing list of banks benefiting from the recapture of its deferred-tax asset valuation allowance.

The Dallas bank added Charles Hyle as a director and audit panel member because of his background in risk management and credit oversight at KeyCorp and Barclays.

Virginia Commerce Bancshares (VCBI) in Arlington recorded a slight dip in quarterly profit as it waited for final approval of its merger with United Bancshares (UBSI).

First Mid-Illinois Bancshares (FMBH) in Mattoon has promoted the president of its bank to replace its retiring chairman and chief executive.

United Community Banks (UCBI) in Blairsville, Ga., beat its third-quarter earnings estimates as costs from bad loans fell.

Valley National Bancorp's (VLY) profit fell by nearly a third in the third quarter as the Wayne, N.J.-based company saw a substantial decrease in net gains on sales of residential mortgages.

Cascade Bancorp (CACB) in Bend, Ore., has outbid another company to snag Home Federal (HOME) in Nampa, Idaho.

MVB Financial (MVBF) in Fairmont, W.Va., has agreed to purchase certain assets and assume certain liabilities of CFG Community Bank in Lutherville, Md.

Heritage Financial (HFWA) in Olympia, Wash., has agreed to buy Washington Banking (WBCO) in Oak Harbor. Heritage will pay about $265 million in cash and stock for Washington Banking, the companies said Wednesday.

The $5.2 billion-asset company reported a profit of $9.4 million in the third quarter, down 18% from the same period a year earlier, it announced Wednesday.

Fulton Financial (FULT) tossed out a tempting tidbit to investors on Wednesday — it has found a new chief financial officer.

Higher interest income boosted quarterly earnings at Texas Capital Bancshares (TCBI) in Dallas, which also had to pay a special deposit-insurance assessment.

Hayward Bancshares in Eau Claire, Wis., is merging its two bank charters in a bid to cut regulatory costs.

First Midwest Bancorp (FMBI) offset insurance costs and the impact of shrinking margins with the sale of its stake in a software firm.

Members of the American Bankers Association have elected a new leadership team and voted in 10 new board members.

PacWest Bancorp (PACW) in Los Angeles doubled its profits in the third quarter thanks to its purchase of First California Financial Group (FCAL).

City Holding Co. (CHCO) in Charleston, W.Va., reported a 32% increase in quarterly profit as acquisitions helped boost its interest income.

The Salt Lake City company has long lagged in mortgages, and now is the time to get more aggressive as big rivals pull back and small competitors struggle with qualified-mortgage rules, CEO Harris Simmons says.

Prosperity Bancshares (PB) in Houston reported a 20% boost in profit after announcing two deals in the third quarter.

Fulton Financial (FULT) in Lancaster, Pa., saw reduced revenue from mortgage sales and service charges in the third quarter, but improvements in credit quality partially offset those declines.