Bank buyers are starting to pay more for assets; valuations soared this month in Prosperity’s deal for FVNB and MB Financial’s deal for Taylor Capital, which could be the sign of increased prices for future bank M&A.

TCF Financial Corp. (NYSE: TCB) in Wayzata, Minn., has hired a PNC Financial Services Group (PNC) executive to be its chief risk officer.

The $1.6 billion-asset company reported Friday that it earned $2.8 million in the second quarter, up 6% from the same period in 2012.

John Koelmel recently became the president of HarborCenter Development, a Buffalo, N.Y., real estate company with ties to a professional hockey team.

Wells Fargo and Citigroup are laying off hundreds of employees in their mortgage units as rising interest rates cause home loan refinances to plummet. More layoffs by banks with heavy exposure to mortgages are expected this year.

Second-quarter profits at Tompkins Financial Corp. in Ithaca, N.Y., rose on increased loan revenue and fees, but fell short of analysts' estimates.

The Buffalo, N.Y., company is bolstering its commercial lending and auto finance businesses while it looks to replace ousted CEO John Koelmel.

First Horizon National Corp. in Memphis missed second-quarter profit estimates as its lending and fee income slid.

Associated Banc-Corp (ASBC) in Green Bay, Wis., announced second-quarter earnings of $47 million, up 12% from a year earlier thanks to higher net interest income and mortgage banking revenue.

Executives at SunTrust hope higher interest rates eventually translate into more new mortgages and wider margins, but the hit to its refinancing business is forcing cost cuts and balance sheet adjustments now.

The Georgia company is finally ready to exit the Troubled Asset Relief Program, allowing executives to set their sights on increasing revenue.

The Federal Reserve Board has levied a fine against Minster Bank in Ohio and freed a Missouri company from an enforcement action.

State Street Corp., the third-largest custody bank, said second-quarter profit climbed 16 percent as rising global equity markets lifted the value of the assets it oversees.

Shares of City National Corp. in Los Angeles rose Friday after it beat its earnings estimates on strong wealth management income.

First Niagara Financial Group (FNFG) in Buffalo, N.Y., met quarterly earnings estimates as its lending income ticked up and margins widened.

Washington Federal (WAFD) in Seattle has agreed to buy 51 branches from Bank of America (BAC).

SunTrust Banks in Atlanta reported higher second-quarter earnings that reflected the elimination of more than 2,000 positions in the past year.

Independent Bank Group has agreed to buy Collin Bank, the first acquisition for Independent since it raised $87 million in an April initial public offering.

Synovus Financial (SNV) said Thursday it plans to use a combination of new capital and cash on hand to repurchase preferred stock from the Troubled Asset Relief Program.

Ameris Bancorp (ABCB)'s quarterly profit more than tripled, primarily on gains in mortgage revenue and a drop in the provision for loan losses.