FNB Corp. Christiansburg, Va., and Virginia Financial Group Inc. of Culpeper have announced plans to conduct a merger of equals to form a banking company with more than $3 billion of assets, making it the largest in Virginia.

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Less than a year after he was brought in to "reinvent" Sun Bancorp Inc.'s retail bank, Jeffrey P. Hawkins has resigned.

The Office of Thrift Supervision has ordered the $34 million-asset Universal Savings Bank of Milwaukee to come up with a plan to sell itself and eliminate all deposits by July 31.

Two more Midwest thrift companies have announced plans to merge rather than try to slug it out alone in markets that are barely growing and where competition is already intense.

Proposed legislation that would allow all credit unions — regardless of charter type — to set up shop in low-income neighborhoods has rankled the banking industry.

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Cullen/Frost Bankers Inc.'s second-quarter profits beat Wall Street's expectations as stable credit costs and margin expansion offset another quarter of balance-sheet contraction.

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Related Links Complete 2Q 2007 Earnings Coverage

Related Links Complete 2Q 2007 Earnings Coverage

Capital Corp. of the West in Merced, Calif., has postponed the release of its second-quarter earnings while it evaluates the effects of a nonperforming construction loan.

Beneficial Mutual Bancorp Inc. in Philadelphia has had an inauspicious first week as a publicly traded company, but its new president and chief executive, Gerard P. Cuddy, says he is confident it will win over investors.

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NewAlliance Bancshares Inc. in New Haven, Conn., said Monday that it would record a pretax loss of $28.3 million spread over two quarters to restructure its balance sheet.

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Did lackluster second-quarter earnings at Community Trust Bancorp Inc. of Pikeville, Ky., hurt its chances of winning a bidding war for another Kentucky bank?

Cadence Financial Corp. in Starkville, Miss., said Friday that it will slash its previously reported first-quarter earnings from $3.7 million to $103,000 after discovering certain securities were improperly classified.