A former executive at a Norfolk, Va., bank has been sentenced to eight years in federal prison for his role in the fraud that led to the bank's collapse.

The $18 billion-asset company said late Tuesday it has acquired certain assets and liabilities from Surety Financial Services in Sherman Oaks, Calif. The companies did not disclose the terms or specify the assets that were transferred.

The $2 billion-asset company said Tuesday that it had fully redeemed the $20.5 million in preferred shares issued through the program. Park Sterling funded the redemption with a payment from its bank.

Bridge Bancorp (BDGE) in Bridgehampton, N.Y., is planning to raise at least $25 million in a public stock offering to support its purchase of FNBNY Bancorp in Merrick, N.Y.

The $356.6 million-asset company issued 2.8 million shares of common stock to investors at a purchase price of $1.00 per share.

David Matson will serve on the board's asset and liability committee and on its newly created risk management committee, according to First BanCorp's Tuesday filing with the Securities and Exchange Commission.

With nearly 140 banks and a forecast for sluggish growth in the next decade, the city should be primed for consolidation. One big problem: few bankers seem interested in selling.

The $656 million-asset company will sell up to $25 million of common stock in a public offering, according to a Monday filing with the Securities and Exchange Commission.

The Federal Reserve Board has ordered Trinity Capital Corp. in Los Alamos, N.M., to improve its capital position.

August's reading provides more proof that the slowdown in mortgage activity is curbing overall growth in the banking industry.

National Bank Holdings Corp., a company formed in 2009 to buy failed banks, is planning to contract its branch network.

Giving the rest of our sales teams regular snapshots of factors that brought about star performances is far more useful than simply reporting who those star performers are.

New Century Bancorp in Dunn, N.C., has agreed to buy Select Bancorp in Greenville, N.C.

Cathay General Bancorp (CATY) in Los Angeles has finished buying back the shares it issued to the Treasury Department under the Troubled Asset Relief Program.

The $483 million-asset company issued 370,000 shares of common stock to a prominent financial institution investor, according to a press release Monday. The investor was not named in the release.

Regulators and financial firms must listen to each other and work together to protect the interests of customers and stakeholders. Only then, will they be able to build a safe and sound financial system.

The banking regulators will remain open in the event of a government shutdown, but the ongoing fiscal battle in Congress could still have significant implications for the financial services industry.

The state has reached a settlement with five payday lenders under which they would be prevented from collecting on certain loans and pay restitution to customers, Eric Schneiderman's office announced Monday.

Solera National Bancorp in Lakewood, Colo., has ended a months-long search for a new leader.

The Federal Deposit Insurance Corp. took action against three banks in August and released one bank from a consent order.