Some of the country's healthier midsize banks are losing interest in buying failed institutions, contending the deals are costly, time-consuming and in some ways not worth the trouble.

Merger and acquisition activity has been almost nonexistent, but that is not to say it has been uninteresting.

First Busey Corp. of Illinois plans to sell at least 18 million shares of common stock and $39.3 million in 9% convertible preferred shares to raise funds to boost capital at its Busey Bank unit and other purposes.

CIB Marine in Pewaukee, Wis., is on track to turn more than $110 million of life-threatening debt into an abundance of capital and another shot at selling itself.

The $1.8 billion-asset company said in a Securities and Exchange Commission filing Monday that it has 60 days to submit a plan for maintaining sufficient capital, under a written agreement it signed Sept. 15 with the Federal Reserve Bank of San Francisco.

Metro Bancorp Inc. in Harrisburg, Pa., plans to sell $75 million of its common stock, in an offering that could help smooth its pending acquisition of Republic First Bancorp Inc. in Philadelphia.

While stock sales by large publicly traded banks have been in the spotlight this year, smaller banks have also been on a capital-raising binge.

The failures of $2.7 billion-asset Irwin Union Bank and Trust Co. and $493 million-asset Irwin Union Bank were estimated to cost the Deposit Insurance Fund a total of $850 million.

WASHINGTON — Under pressure from lawmakers not to charge banks another special assessment, Federal Deposit Insurance Corp. Chairman Sheila Bair said the agency would consider other alternatives — including some obscure ones — before it decides to act.

James Gutierrez, chief executive of Progress Financial in San Jose, believes he has found the key to reaching unbanked Hispanics — credit.

The failures of $2.7 billion-asset Irwin Union Bank and Trust Co., of Columbus, Ind., and $493 million-asset Irwin Union Bank, of Louisville, Ken., were estimated to cost the Deposit Insurance Fund a total of $850 million.

A survey published last week by the Independent Community Bankers of America said 52% of community banks increased their budgets for payments projects from 2007 to 2009, while only 11% cut spending.

A year after the Troubled Asset Relief Program came along, a growing number of community banks the government spurned are on the brink of failure.

These institutions did not cause the current financial crisis; their woes are the product of failures triggered by the activities of under- and unregulated entities and entities with more leverage and capital markets expertise.

MIDDLE ATLANTIC

As the tally of failed banks continues to grow, so does the list of institutions with similar names that have had to calm down confused customers and business partners.

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Community Trust Financial Corp. in Ruston, La., is expanding into Mississippi. The $1.2 billion-asset company has a deal to buy the $65 million-asset Madison Financial Corp., which would add three branches in the neighboring state.

Michael E. Kelly, the billionaire who built FBOP Corp. by snapping up ailing banks around the country in the 1980s and 1990s, now may have to give up some control of this far-flung empire — or lose all of it.

MB Financial Inc. picked up the pieces of Corus Bank after its seizure Friday and now plans to spend the rest of the year integrating what was a sizable hometown acquisition.