The Office of the Comptroller of the Currency shuttered the $3.1 billion-asset First National Bank in Edinburg, Texas, and it was sold by the Federal Deposit Insurance Corp. in a deal estimated to cost $637 million to the Deposit Insurance Fund.

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Provident New York Bancorp (PBNY) and Sterling Bancorp (STL) have reached a settlement with shareholders who alleged that Sterling's board violated its fiduciary duty and failed to disclose crucial information about the two companies' pending merger.

Keene Turner will succeed Frank Sanfilippo, who will become the $3 billion-asset company's chief operating officer, according to a Friday press release.

Old National is trying to shed assets ahead of an acquisition in hopes of staying below $10 billion in assets, a level that ensures increased regulation.

Economic shifts are driving community banks back into the mortgage-purchase market, but the very same forces are squelching demand. So small banks will have to start buying established mortgage originators — if PE firms don't buy the same targets first.

An Indiana man was sentenced to spend five years in federal prison and pay almost $7 million in restitution Thursday after pleading guilty to defrauding local banks of over $10 million.

Zions Bancorp. in Salt Lake City has raised $87.9 million in a sale of subordinated notes.

The Federal Deposit Insurance Corp. has lifted a consent order with Seattle Bank, which recently added $10 million of capital.

Baker Boyer Bank in Walla Walla, Wash., has promoted its wealth management division manager to become president and chief investment officer.

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Chemical Financial (CHFC) in Midland, Mich., could raise up to $57.5 million through its recently announced stock offering, according to pricing information released Friday.

Midland States Bancorp in Effingham, Ill., has agreed to buy Heartland Bank in St. Louis from Love Savings Holding Co.

Midland States Bank in Effingham, Ill., is reportedly close to buying Heartland Bank in St. Louis.

Umpqua Holdings' agreement to buy Sterling Financial is the latest in a series of deals this year to pair similarly sized banks, creating a new crop of midsize financial institutions.

The $3.6 billion-asset Simmons First said Thursday that it plans to pay $53.6 million in cash for the Little Rock, Ark., bank.

Capitol City Bank & Trust in Atlanta has named Chief Operating Officer John Turner its new president and chief executive.

The Treasury Department plans to auction nearly $118 million of shares in six lenders as it continues to wind down the Troubled Asset Relief Program.

Landmark Community Bank in Collierville, Tenn., has agreed to acquire the central Tennessee assets of Cadence Bank, according to a report.

Sober presentations from CEOs normally dominate the Barclays Global Financial Services Conference in New York, but instant interactive polls and a piano-bar soundtrack gave this year's get-together an offbeat feel.