Community Bank System Inc. of DeWitt, N.Y., which has been quiet in mergers and acquisitions the past few years, has reverted to form with its most expensive deal to date.

Seven banks failed Friday, bringing the total number of failures this year to within one of the number of failures in all of 2009. So far 139 banks have failed in 2010. Friday's failures are expected to cost the deposit insurance fund a collective $478 million.

West Coast Bancorp in Lake Oswego, Ore., reported net income Friday of $6.1 million in the third quarter, making it the company's first profitable quarter in more than two years.

Glacier Bancorp Inc. in Kalispell, Mont., said it earned $9.4 million in the third quarter, compared with a $1.5 million loss a year earlier, as its loan-loss provision declined and noninterest income grew.

Fidelity Southern Corp. in Atlanta has reported third-quarter earnings of $2.1 million, a 425% improvement from a year earlier, and says that most of its problems are behind it.

Heritage Financial Group in Albany, Ga., announced Friday that it has received conditional approval from the Office of Thrift Supervision to complete its second-step conversion and become a full stock company.

MB Financial Inc. in Chicago on Friday posted a third-quarter loss of $5.4 million compared with earnings of $4.9 million a year earlier and blamed continued high credit costs.

Beneficial Mutual Bancorp Inc. in Philadelphia reported a $21.7 million third-quarter loss Friday, compared with net income of $5.8 million a year earlier, after a spike in its loan-loss provision.

Dozens of community banks are pushing hard to close acquisitions in the next few months because completing a deal could become much more costly in 2011.

Seven banks failed Friday, bringing the total number of failures this year to within one of the number of failures in all of 2009. So far 139 banks have failed in 2010. Friday's failures are expected to cost the deposit insurance fund a collective $478 million.

First Niagara Financial Group Inc. in Buffalo, N.Y., said Thursday that its third-quarter earnings quadrupled from a year earlier, to $45.6 million, aided by two Pennsylvania acquisitions.

After an infusion of $50 million of fresh capital, Patriot National Bancorp Inc. in Stamford, Conn., joins the ranks of struggling community bank companies that are moving from retrenchment to recovery.

Kearny Financial Corp. in Fairfield, N.J., has received approval from its regulator to acquire Central Jersey Bancorp in Oakhurst, the companies announced Thursday.

Valley National Bancorp in Wayne, N.J., said Thursday that its net income rose 27% year over year in the third quarter, to $32.6 million.

Fulton Financial Corp. in Lancaster, Pa., posted a 72% year-over-year increase in net income in the third quarter, to $31.5 million.

After its $730 million recapitalization, Sterling Financial reported third-quarter net income to common shareholders of $33.6 million.

Renasant Corp. in Tupelo, Miss., reported that its third-quarter net income rose more than 363% from a year earlier, largely because of a huge gain on the purchase of a failed bank.

Add Capitol Bancorp Ltd. to the list of companies whose recapitalization efforts have been complicated by debtholders who are unwilling to budge.

Peyton Patterson, the CEO of NewAlliance Bancshares, announced she will leave the company after it is acquired by First Niagara Financial early next year.