Business activity in the banking sector accelerated slightly in October, rising for the fifth straight month, according to industry executives surveyed for American Banker's latest Index of Banking Activity.

The $1.2 billion-asset First Business said Monday that it sold 1.1 million shares of common stock at a price of $23 a share. First Business said recently that it would use proceeds from the sale to redeem some of its subordinated debt and to fund growth.

The $1.75 billion-asset company disclosed late last week that its purchase agreements with ValStone Partners, a private-equity firm in Michigan, had been terminated. Calls to Capitol (CBCRQ) and ValStone were not immediately returned.

Bob Kottler, an executive at Iberiabank, hopes the Consumer Bankers Association can help shape the agency’s rulemaking process in 2013.

The Senate is scheduled to vote Tuesday on a bill that would extend a crisis-era program that guarantees certain business accounts.

Todd Park is hardly a civil service Yes man. He's a presidential scholar with a Harvard degree and two successful start-ups under his belt.

The money a household has to deposit into a bank account would decrease by an average of almost 55% if U.S. tax cuts are allowed to expire, an analysis from Market Rates Insight found.

Congressional approval for a two-year extension would, among other things, prevent more uncertainty, minimize deposit concentration and maximize financial stability.

Ameris Bancorp (ABCB) in Moultrie, Ga., has announced a streamlining plan that includes closing or selling about 20% of its branches.

CapStar Bank in Nashville, Tenn., has hired a former executive at Bank of America as its chief financial officer.

Alliance Bank in Syracuse, N.Y., has warned that almost 100 jobs would be eliminated after its merger with NBT Bank next year.

FirstAtlantic Bank in Jacksonville, Fla., has acquired a branch from Prosperity Bank in St. Augustine, Fla.

MainSource Financial Group (MSFG) in Greensburg, Ind., has retired another chunk of the equity it originally issued in the Troubled Asset Relief Program.

Two troubled banks were sold through bankruptcy auctions this month, and another is expected next week. The much-discussed recapitalization method has only recently gained traction.

Senator-elect Heidi Heitkamp may be the next in line to join the Senate Banking Committee.

Comptroller Tom Curry said the agency has worked to address several concerns from staff after a recent survey — the first being stepping up internal communications by senior management.

Michael Larrowe, promoted to CEO of Cardinal Bankshares after a shareholder revolt capped a chaotic past year, is working to rebuild the company and its ties to the community.

First PacTrust Bancorp (BANC) in Irvine, Calif., raised $43.1 million from the sale of senior notes.

FirstSouth Bancorp in Lexington, Tenn., has repaid the $50 million it had received from the Treasury Department under the Troubled Asset Relief Program.

A key investor in Webster Financial is reducing its stake in the Waterbury, Conn., company.