Peoples Bancorp of North Carolina (PEBK) in Newton said that Lance A. Sellers, its chief credit officer, will take over as chief executive and president later this year.

The Asheville, N.C., company posted a net loss after its loan-loss provision ballooned. The loss comes just months after activist investor Stilwell Group disclosed that it had started buying shares in the company.

American Banker today introduces the Index of Banking Activity, a new monthly barometer of business conditions in the U.S. banking sector. The index's initial reading of 54.4 indicates that the banking industry experienced a modest pickup in activity in June.

IMGCAP(1)]

Heartland Financial (HTLF) in Dubuque, Iowa, reported that its second-quarter earnings rose about 45% from a year earlier, to $12.9 million, because of higher noninterest income.

Following an extensive search for a new chief executive, the board at HF Financial (HFFC) in Sioux Falls, S.D., has determined that its interim CEO is the best person for the job.

The FDIC's original blanket coverage for transaction accounts allowed institutions to opt out or pay extra fees to participate. But industry groups say extending Dodd-Frank's version of the coverage, which eliminated fees and made participation compulsory, is the only way to go.

WASHINGTON — The Federal Reserve Board approved a final rule on debit card interchange fees to make an adjustment for fraud-prevention costs.

Shares for Independent Bank (IBCP) climbed Monday after the Ionia, Mich., company reported its second consecutive quarter of profitability from improved asset quality.

After hiring a MetLife mortgage team in northern California, Provident Financial Holdings (PROV) said its fiscal fourth-quarter profit more-than doubled from a year ago.

Old National Bancorp in Evansville, Ind., said Monday that its second-quarter earnings climbed 25% from the first quarter, to $27.2 million, as net interest income rose while expenses fell.

A number of banking company closed branches during the second quarter, and even more have announced plans to follow suit. Over the past 12 months, there was a net loss of about 770 branch offices nationwide as banks aim to cut costs in the face of depressed interest rates and low loan demand.

Capitol Federal Financial in Topeka, Kan., posted a stronger quarter compared with a year ago but earnings in the quarter that ended June 30 were down from the prior quarter as net interest income fell.

State Bank Financial's (STBZ) second-quarter earnings nearly doubled what it reported a quarter earlier as the serial acquirer's organic growth outpaced growth from acquisitions.

It's not too soon for CEOs to think about how they'll fill the profit hole sure to come when interest rates rise and the number of borrowers eligible to refinance ultimately drops.

Suffolk Bancorp in Riverhead, N.Y., posted higher second-quarter profit as it recorded a credit for its loan-loss provision and a decline in operating expenses.

First Community (FCCO) in Lexington, S.C., said it could use the $15 million it raised through a common stock offering to exit the Troubled Asset Relief Program.

IMGCAP(1)]

Regulators in Georgia closed the $217 million-asset Jasper Banking, which became the industry's 39th bank to fail this year.

The Treasury Department did not sell some of the preferred shares it owns two community banks as planned after it received insufficient bids for the securities.