Despite President Obama's victory Tuesday, the Democrats' financial policy agenda over the next two years will be far more about defending their past achievements than scoring new ones.

Elizabeth Warren, the CFPB architect and frequent bank critic, was elected late Tuesday to the Senate, much to the dismay of the financial services industry.

Matt Wagner, the persistent CEO of PacWest in L.A., reaches a deal to buy First California six months after reporting that the Westlake Village, Calif., company spurned his initial overture.

Business activity in the banking sector improved significantly in September, rising for the fourth consecutive month, according to industry executives surveyed for American Banker's latest Index of Banking Activity.

The Federal Reserve Board has ended a written agreement with Boscobel Bancorp that required the Wisconsin company to serve as a source of strength for its Community First Bank.

Although the Federal Deposit Insurance Corp.'s yearlong study of challenges and opportunities for community banks is expected to yield a final report next month, the agency will release an update on some of its findings this week.

Community banks are geared up to spend more on technology next year, according to a study conducted in September by U.S. audit and advisory firm KPMG.

As Capital One demonstrates, establishing yourself in a growth market like Louisiana can mean providing the crying towel after a big loss on football Saturday.

Banks have hired thousands of employees to handle a crush of work from mortgage refinancing. The big question looming is what to do with those "permanent" employees once the refi market cools down.

In its $175 million offering, the $24.4 billion-asset City National is selling 7 million depositary shares at $25 each, the company said Monday. Each depositary share represents a one-fortieth interest in a Series C preferred share.

Banks and their customers were battered by last week's storm, and many are still picking up the pieces. Click to see how banks are waiving fees, suspending foreclosure sales, keeping some offices closed for months and responding in other ways to this crisis.

Citizens Community Bank in South Hill, Va., has named James R. Black, who has been its chief financial officer since May 2007, as its president and chief executive officer.

International Bancshares in Laredo, Texas, reported lower income as its net interest margin contracted. The company's third-quarter earnings fell more than 19% from a year earlier, to $22 million.

Old Florida Bancshares had been focusing on internal growth until the opportunity to buy New Traditions National Bank arose. The deal will take Old Florida to $1 billion in assets and cement its place as Orlando's biggest community bank.

Boutique investment banking firm Keefe, Bruyette & Woods had survived scandal and 9/11 but has agreed to sell itself to a rival due to some of the same shortcomings that afflict many banks.

Although bankers want full insurance for certain deposits to be extended, the Federal Deposit Insurance Corp. encouraged institutions Monday to tell customers in advance that that insurance may expire.

Umpqua Holdings (UMPQ) in Portland, Ore., is continuing to expand across California. The $11.5 billion-asset company said Monday that it plans to open a center in Templeton, Calif., in January to make loans to agricultural customers.

Bank of Hays has agreed to buy Farmers' State Bank of Jetmore, Kan.

Eagle Bancorp and Camco Financial both announced capital deals last week, but for entirely different reasons. Eagle is experiencing strong growth, while Camco is still recovering. Deal advisors say the companies represent the two types of capital raises taking place right now.

Bank of Virginia (BOVA) in Midlothian has extended its rights offering deadline because of the aftermath of Hurricane Sandy.