First Niagara Financial Group Inc. in Lockport, N.Y., said Friday that its second-quarter profit slipped 10% from a year earlier, to $20.8 million.

First Business Bank of San Diego has agreed to buy 1st Pacific Bancorp of San Diego for about $7 million and whatever is later recovered from charged-off loans and a lawsuit.

Two Southern California banks — totaling over $3 billion in assets — succumbed to construction loan losses Friday evening, and the Federal Deposit Insurance Corp. endured another busy night.

Interpreting Webster Financial Corp.'s second quarter is about as messy as the results.

People's United Financial Inc. of Bridgeport, Conn., said Friday that it may use capital for takeover bids to help it expand in the Northeast.

Umpqua Holdings Corp. posted a surprise second-quarter profit even as loan-loss provisions and nonperforming loans rose, while it continues to wind down its residential construction loan portfolio.

NEW ENGLAND

The wounded Capitol Bancorp Ltd. is continuing its bank sell-off.

The industry consensus is that investors care more about capital and credit than wide earnings misses for the second quarter, and East West Bancorp Inc. in Pasadena, Calif., is a case in point.

WASHINGTON — A powerful credit-union trade group on Tuesday laid out its conditions for supporting the proposed Consumer Financial Protection Agency.

CapitalSource Inc., in Chevy Chase, Md., is moving forward with plans to sell $71.8 million of common stock and $300 million of senior secured notes.

To understand just how hard it is to start a bank these days, consider Coastal Bank and Trust. Organizers raised the $11 million of capital they needed, but just made the deadline in the prospectus with minutes to spare.

Century Bancorp Inc.'s second-quarter earnings rose 7%, as a lower tax rate and higher net interest income helped offset an increase in loan trouble and a larger assessment for deposit insurance.

Westamerica Bancorp. of San Rafael, Calif., reported a 90% surge in second-quarter earnings Tuesday as a recent acquisition and lower short-term interest rates more than offset increased credit costs.

On the heels of reporting a second-quarter loss due to rising credit problems, CoBiz Financial Inc. in Denver is raising $45 million of capital with an eye toward possible acquisitions.

Blank-check companies have had a hard time buying banks in the past, but a pair of deals announced Tuesday could signal more to come.

Observers say lower prices for banks and adesperation for capital have given these investors more incentive toget involved in the industry now.

The flailing Guaranty Financial Group Inc. of Austin has a new chief executive officer and chief financial officer.