Renasant (RNST) in Tupelo, Miss., posted a big increase in quarterly profit following its recent purchase of First M&F.

In a reflection of how important--and how tough--expense cuts are to banks these day, SunTrust devoted part of its recent earnings call to discussing a real estate move aimed at saving $100,000 a month.

U.S. Bancorp (US) reported fourth-quarter profit that beat analysts' estimates as the bank set aside less money for credit losses.

TriCo Bancshares (TCBK) in Chico, Calif., has agreed to buy North Valley Bancorp (NOVB) in Redding, Calif.

Zions Bancorporation (ZION), the Utah lender that forecast last month the new Volcker Rule would wipe out its profit, said losses will be about half what it expected after regulators eased enforcement.

TrustCo Bank (TRST) in Glenville, N.Y., reported higher quarterly profits because of loan growth and improved asset quality.

Wintrust Financial (WTFC) in Rosemont, Ill., recorded higher fourth-quarter earnings because of an increase in net interest income and a lower loan-loss provision.

The $2.1 billion-asset People will pay $12.6 million in cash and stock for the $91 million-asset Midwest in a transaction that is expected to close by mid-2014. Midwest also has $61 million in loans and $79 million in deposits.

FNB Corp. (FNB) in Hermitage, Pa., posted slightly lower earnings in the fourth quarter as its acquisitions of Annapolis Bancorp (ANNB) and PVF Capital (PVC) boosted expenses.

ConnectOne is a busy lender but light on deposits, while Center Bancorp has a low loan-to-deposit ratio. The combined company will stand a better chance at organic loan growth in the future. More deals like it are coming as banks look to a more robust lending environment in the next few years.

The Southeastern companies used the fourth quarter to record several one-time expenses that dinged their bottom lines. Still, observers detected strength in their core results.

The $22.4 billion-asset company reported a profit of $64.3 million, or $1.34 per share, a 28% increase from the same quarter in 2012.

Arrow Financial (AROW) in Glens Falls, N.Y., posted higher earnings in the fourth quarter as it benefited from lower expenses related interest-earning deposits.

First Citizens Banc Corp (FCZA) in Sandusky, Ohio, is planning to exit the Troubled Asset Relief Program.

Community National Bank in Derby, Vt., has promoted Kathryn Austin to chief operating officer. She will continue as executive vice president in charge of retail banking at Community National and its parent, Community Bancorp.

Sen. David Vitter, R-La., a member of the Senate Banking Committee, announced Tuesday that he will run for governor of Louisiana in 2015.

The Federal Reserve Bank of Cleveland has reset its governance boards for the year, including naming Fifth Third Bancorp (FITB) Chief Executive Kevin Kabat as a director.

Charmian Uy, the U.S. Treasury's chief investment officer for the Trouble Asset Relief Program, details the government's strategy to exit a program that she believes "will be judged favorably over time."

Several more banks have disclosed financial hits because they hold securities that regulators declined to exempt from the Volcker Rule. Many of the bankers are upset because they are taking impairment charges on performing securities.

Synovus Financial (SNV) in Columbus, Ga., reported lower quarterly earnings because of a decline in mortgage banking revenue and a litigation-related charge.