Consolidation is needed to help the economy because there are too many banks, argues the author, a longtime bank investor. Many parties benefit from deals, and any return for the seller is better than producing poor results or being seized by regulators.

Bryn Mawr Bank (BMTC) in Pennsylvania and MidCoast Community Bancorp in Wilmington, Del., have terminated plans to merge.

Orient Bancorp in San Francisco named Richard Cupp, a well-known California banker and turnaround specialist, its permanent chief executive five weeks after he joined as interim CEO.

Customers Bancorp (CUBI) in Wyomissing, Pa., has opened a loan production office in North Philadelphia with the goal of providing affordable loans to lower-income minority communities.

Carver Bancorp (CARV) in New York reported its third consecutive quarter of profitability, reflecting lower expenses and higher income from asset sales.

Triumph Bancshares in Germantown, Tenn., has agreed to buy two mortgage businesses from Merchants & Planters Bancshares in Bolivar, Tenn.

As a good bank in a hard-hit state, Gulfstream Bancshares in Stuart, Fla., focused on getting in the best shape to be above reproach to potential buyers. The strategy worked, and its agreement to sell itself to CenterState could embolden others.

The $1.8 billion-asset company said late Thursday that Patrick Bevack, who is 67, will retire as president and CEO next year.

The Federal Reserve Board has taken action against ABCT Holdings in Waco, Tex. and terminated regulatory orders with two Minnesota lenders.

Fox Chase Bancorp (FXCB) in Hatboro, Pa., wants to discard its federal thrift charter.

JPMorgan Chase (JPM) is laying off roughly 600 mortgage banking employees in Colorado and South Carolina, according to local news reports.

TowneBank bought a minority stake in a security firm to help protect its commercial customers and boost revenue.

The Chevy Chase, Md., network completed two loans totaling $40 million that were secured by long-term care facilities in California and Ohio, BancAlliance said Thursday.

Buyers, sellers and shareholders rarely profit from bank acquisitions, the author argues. There are too many things that have to go right in the pricing and integration, and there is too much that can go wrong.

Quarry City Savings & Loan Association, a mutual thrift in Warrensburg, Mo., has applied to convert to a stock charter and sell shares to the public.

Carolina Alliance Bank (CRLN) in Spartanburg, S.C., has agreed to buy Forest Commercial Bank in Asheville, N.C.

Banc of California (BANC) in Irvine has hired a group of bankers to lead its new correspondent lending group.

First Citizens Bancshares (FCNCA) turned stronger credit quality, higher mortgage income and lower foreclosure costs into a 17% gain in profits last quarter.

First M&F (FMFC) in Kosciusko, Miss., revised its second-quarter results, turning previously reported earnings into a loss.

Kentucky First Federal Bancorp (KFFB) in Hazard has received regulatory approval to pay a 10-cent dividend to its public shareholders.