Two of the nation's oldest African-American-owned banking companies have agreed to join forces.

Center Bancorp Inc. of Union, N.J., said Thursday that it was freezing its pension plan and redesigning its 401(k) plan to cut expenses.

AUSTIN — Capitol Bancorp Ltd. of Lansing, Mich., has big hopes for Texas.

Investors are running out of patience with Royal Financial Inc. in Chicago.

Beverly Hills Bancorp Inc. said Thursday that second-quarter net income fell 36% from a year earlier, to $2.1 million, because of increased funding costs and deteriorating credit quality.

The Federal Reserve Board released a sweeping agreement Wednesday with a $720 million-asset Minneapolis holding company and its largest subsidiary to improve asset quality, loan administration, and other areas of concern.

MIDWEST

BankAtlantic Bancorp announced Wednesday that it has hired Doug Freeman, the former chairman and chief executive officer of NetBank Inc. in Alpharetta, Ga., to be its chief corporate banking executive.

After more than doubling its investment in a northern California banking company, a San Francisco private-equity firm is now hoping to repeat the performance in southern California.

Crescent Capital VI LLC, a Bellevue, Wash., private-equity firm, has offered to acquire the outstanding shares of the $490 million-asset Cowlitz Bancorp. in Longview it does not already own for $15 each.

A small Massachusetts thrift’s shareholders have approved a merger proposal that sparked three counteroffers, court action, and criticism over the price.

Add State Bank of Long Island to the growing roster of financial institutions going green.

Kevin Bell, an Illinois banker, is counting on a new state rebate program to steer hybrid car buyers — and government deposits — his way.

Old National Bancorp of Evansville, Ind., said Monday that its second-quarter earnings fell 3% from a year earlier, to $19.6 million. Related Links Complete 2Q 2007 Earnings Coverage

First Horizon National Corp. should expect no shortage of interest in the nearly three dozen retail branches in Dallas, Atlanta, and the Baltimore/Washington region that it plans to divest.

Cape Savings Bank would nearly double its size with its deal for Boardwalk Bancorp Inc., creating a company with more than $1 billion of assets and 20 branches in a growing market that includes Atlantic City.

The company that emerges from the planned merger of Virginia Financial Group Inc. and FNB Corp. would be the largest in the state, but its designated top executive has no intention of stopping the growth there.

Related Links Complete 2Q 2007 Earnings Coverage

Umpqua Bank is giving children all over the Pacific Northwest a taste of running their own business - and hoping to attract more entrepreneurs as customers in the process.

Frontier Financial Corp. in Everett, Wash., has announced plans to enter Oregon with a $68.9 million deal for the $210 million-asset Bank of Salem.