NBT Bancorp (NBTB) will acquire Alliance Financial (ALNC) in a deal valued at $233 million.

SI Financial Group (SIFI) in Willimantic, Conn., said it will report a third-quarter loss of up to $750,000 because of a rise in its loan-loss provision.

The embattled Lansing, Mich., company announced earlier this week that it had entered into agreements with two units of ValStone Partners, a private-equity firm in Birmingham, Mich.

Roy Dowdy Jr., the CEO of Citizens Bank in Geneva, Ala., expects more healthy small town banks to sell as margins thin and costs rise. His bank decided to sell to Bank of the Ozarks earlier this week.

Economic pressures will force more small banks to sell, and midsize banks will feast on them while regulatory limits trap big banks on the sidelines of M&A, says John Roddy, a Macquarie Group investment banker.

Michael Tierney will continue to tackle lingering mortgage problems at the Michigan company, which is also trying to expand more into commercial lending. Meanwhile, a key private-equity backer says is has no immediate interest to cash out of the company.

The Federal Reserve Board has terminated enforcement actions against TCSB Bancorp in Traverse City, Mich., and Northeast Securities Corporation in Minneapolis.

Bank of Henderson has agreed to buy Harrison Bancorp. The Kentucky bank did not disclose the price, though Dale Sights, its president and CEO, said that he expects to complete the acquisition next month.

The Bedminster, N.J., bank holding company said Thursday that Douglas Kennedy will take over as chief executive on Oct. 9.

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Bank of the Ozarks of Little Rock, Ark., is buying Genala Banc, the holding company of The Citizens Bank of Geneva, Ala., for $27.3 million.

Federal regulators are targeting another financial firm in connection with its mortgage activities before the housing crisis.

Banks with government assistance such as the Troubled Asset Relief Program face the greatest risk under Basel III proposals, advisors of Mercer Capital and Jones Day say.

Polonia Bancorp (PBCP) in Huntingdon Valley, Pa., has postponed its stock sale and conversion to a stock company after a regulatory exam revealed compliance problems.

State Bank Financial in Atlanta has added retired Air Force Maj. Gen. Robert McMahon to its board of directors, and CEO Joe Evans explains why.

The $11.5 billion-asset unit of Umpqua Holdings (UMPQ) said Thursday it would open a flagship store in San Francisco's financial district.

Farmer Mac announced late Wednesday that its board has named Chief Financial Officer Timothy L. Buzby as its president and chief executive, effective immediately.

Some private-equity investors are rushed to exit their banking investments, but the growth prospects of EverBank Financial in Jacksonville, Fla., should keep its moneymen patient, CEO Robert Clements says.

Bank of Virginia in Midlothian, Va., is moving to shore up its stock price.

It's been a long, steady decline for mutual thrifts across most of the nation. That isn't the case in Maine, where an aversion to outsiders benefits home-grown mutuals.