Community banking
Community banking
- California
Community Bank of the Bay in Oakland, Calif., raised $5 million of fresh capital Monday, after closing the first tranche of a public offering.
April 6 - Illinois
Mercantile Bancorp Inc. of Quincy, Ill., said Tuesday that it narrowed its fourth-quarter loss to $4.3 million, from $6.7 million a year earlier.
April 6 -
As job creation is the ultimate objective of President Obama's plans to stimulate small-business lending, it is critical for community banks to maintain strict underwriting guidelines and adhere to the fundamentals of lending.
April 6 -
WASHINGTON — Atlantic Southern Financial Group of Macon, Ga., agreed to obtain Federal Reserve approval for paying dividends or taking on debt.
April 6 -
The Federal Deposit Insurance Corp., which seized Cleveland's faltering AmTrust Bank late last year, is seeking more than a half-billion dollars from the failed thrift's corporate parent in a dispute the agency says is of "critical importance" to the nation's taxpayers.
April 6 - Wisconsin
Anchor BanCorp Wisconsin Inc. is going back to square one in its recapitalization efforts after its lifeline collapsed — a situation that may be increasingly common for banks in distress.
April 5 -
But a closer look at the agency's loan-performance data suggests that underwriting — not the type of borrower, military or otherwise, not whether there is a down payment — is the reason some lenders in the program have succeeded while others have struggled.
April 5 - Pennsylvania
First Chester County Corp. of West Chester, Pa., said that a top executive resigned from the board of directors, and that the company failed to file its annual report, according to a filing with the Securities and Exchange Commission.
April 5 - Montana
Eagle Bancorp Montana Inc. of Helena said Monday it completed the second step of its conversion from a mutual to a stock company.
April 5 - Georgia
Heritage Financial Group in Albany, Ga., is revising its fourth quarter and 2009 results after selling off its largest nonperforming loan.
April 5 - Illinois
First Midwest Bank in Itasca, Ill., wants to make it perfectly clear — it is not to be confused with Midwest Bank and Trust Co.
April 5 - Michigan
Add Independent Bank in Ionia, Mich., to the list of companies that have successfully renegotiated the Treasury Department's investment under Tarp.
April 5 -
NEW YORK — Uncle Sam could soon own a piece of Independent Bank Corp. The Michigan lender disclosed in a filing Friday it has paved the way for the Treasury Department to convert into common shares the $72 million the government invested in the bank through the Troubled Asset Relief Program, or Tarp.
April 5 - Missouri
The Federal Reserve released written agreements with banks in Missouri and Florida on Thursday, limiting the firms' ability to pay dividends and boosting oversight of their operations.
April 5 - Georgia
United Community Banks Inc. has agreed to sell $100 million of nonperforming loans to an asset manager in order to rid illiquid assets and create capital as the bank continues to suffer from a credit crunch.
April 5 - California
A research note from Sandler O'Neill & Partners LP last week said the $1.3 billion-asset company was required to increase capital levels, reduce problem assets, reduce exposure to construction and land loans and create a liquidity management plan.
April 4 - Washington
The president of Frontier Financial Corp.'s bank unit said he was fired for trying to use vacation time.
April 4 - Minnesota
Many smaller banks say they plan to keep offering such services because demand is strong and overdraft fee income is essential.
April 1 -
United Community Banks Inc. entered an agreement to sell $100 million of nonperforming loans to an asset manager in order to rid illiquid assets and create new capital as the bank continues to suffer from credit crunch.
April 1 - Florida
The Federal Reserve announced an enforcement action against Atlantic Bancgroup in Jacksonville Beach, Fla., a move taken to help maintain financial soundness at the firm.
April 1



