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.

The third-quarter performance of small and midsize banks in California — long a bellwether for the nation's community institutions — has given rise to some optimism.

Stephen P. Wilson was elected chairman of the American Bankers Association during its annual convention Tuesday in Boston.

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San Diego Trust Bank Monday announced its 24th consecutive quarterly profit, reporting third-quarter earnings of $218,000, up 30% from a year earlier.

Farmers and Merchants Bank of Long Beach in California announced Monday that third-quarter earnings rose more than 10% from a year earlier.

Patriot National Bancorp Inc. of Stamford, Conn., announced late Friday that it had received a $50 million capital infusion from PNBK Holdings LLC to recapitalize its bank.

Bank of Lincoln County in tiny Elsberry, Mo., had just $35.7 million of assets when Nancy and Bill Laurie bought it in 2007. On Friday the bank, re-named Providence Bank, pulled off its biggest feat yet in picking up a failed bank more than five times its size, following a $75 million capital injection from the Lauries.

After receiving reports from the country's largest mortgage servicers on their foreclosure procedures, regulators are teaming up to double-check the findings.