The Federal Reserve Board on Tuesday announced enforcement actions against two banks.

G. Kennedy Thompson, a former chairman and chief executive of Wachovia Corp., will join the board of BNC Bancorp in High Point, N.C.

There are 7,604 banks and thrifts in this country, and the core mission of nearly all of them is to lend locally. As currently structured, however, nearly 40% of these institutions are barred from taking part in the Small Business Lending Fund, the government's latest attempt to stimulate the national economy from the community level on up.

In 26 metropolitan statistical areas, branches accounting for more than 10% of market deposits were operated by institutions that agreed to sell or failed since July 1.

Preliminary data indicates that C&I lending continued to show strength in the first quarter - but mainly at big banks - while other loan categories remained lifeless.

Baltimore County Savings Bank is looking to switch to a Maryland chartered bank from a federal thrift.

First Place Financial Corp. in Warren, Ohio, has deferred payments on its subordinated debt and preferred shares issued to the Treasury Department to save cash and comply with an enforcement action.

Altura Credit Union in Riverside, Calif., which reported a 2010 loss of $5.8 million, said Friday that it is closing four branches and laying off 26 employees, or 11% of its work force.

Norwood Financial Corp. in Honesdale, Pa., has received approval from shareholders of North Penn Bancorp Inc. to buy the Scranton, Pa., company.

Community Bank System Inc. in DeWitt, N.Y., said Monday that it has completed its acquisition of Wilber Corp.

The Federal Reserve on Friday approved an application by China's Bank of Communications Co. to open a branch in San Francisco.

Members 1st Federal Credit Union in Mechanicsburg, Pa., fresh off a trademark infringement claim with a local bank, filed a new lawsuit Friday against Merrick Bank in South Jordan, Utah.

Skeptics have often viewed banks with in-store branches as unconventional. Still, several community banks have tested the strategy and concluded it has untapped potential.

While a slowdown in failures is consistent with an improving economy, and the FDIC says 2010 was a peak year for the recent crisis, many say there are still plenty of failures ahead.

The OCC closed the $187 million-asset Western Springs National Bank and Trust in Illinois Later, state regulators closed the $145 million-asset Nevada Commerce Bank.

The OCC closed the $187 million-asset Western Springs National Bank and Trust in Illinois Later, state regulators closed the $145 million-asset Nevada Commerce Bank.

Waccamaw Bankshares Inc. in Whiteville, N.C., said Friday that the Nasdaq stock market has given the company until June 3 to submit a plan to regain compliance.

Professional Business Bank in Pasadena, Calif., has hired a former Citigroup Inc. executive as its chief credit officer.

Pacific Marine Credit Union in Camp Pendleton, Calif., on Friday said it acquired a branch from Provident Financial Holdings Inc. of Riverside, Calif.

National Bancorp Holdings, a newly created holding company backed by brothers Stephen and John Calk, bought Generations Bank from Armed Forces Bank in Fort Leavenworth, Kan.