In only the second bank IPO since mid-2007, a Montana company's shares debuted on the Nasdaq this week. Analysts say the initial public offering from First Interstate BancSystem Inc. of Billings, which raised $145 million Wednesday, is another sign that the capital markets are thawing and companies are starting to take advantage of that.

Banks and credit unions are preparing for an unusual phenomenon — the midmonth payday on Sunday, Aug. 15, when millions of consumers may learn the hard way they were supposed to have opted-in for overdraft protection on their checking accounts.

An initial public offering of shares of First Interstate BancSystem Inc. in Billings, Mont., debuted at $16 on the Nasdaq Wednesday, up 10.3% from the price Tuesday night.

MIDDLE ATLANTIC

Seacoast Banking Corp. of Florida in Stuart has revised its fourth-quarter earnings, widening its loss.

With a regulatory order headed its way, PremierWest Bancorp is trying to get out in front of its capital problems. The $1.56 billion-asset company in Medford, Ore., announced Monday that it would try to raise as much as $17.3 million in capital through a public stock offering.

Including nonbanks in the Consumer Financial Protection Bureau is an important first step toward rationalizing the regulatory system and ensuring it accurately reflects how consumers conduct their financial business.

Since calling off a round of capital-raising last fall, Citizens South Banking Corp. has adopted a more opportunistic approach to raising funds.

Monarch Community Bancorp Inc. of Coldwater, Mich., had a loss of $17.5 million in the fourth quarter, more than five times its loss a year earlier.

Dearborn Bancorp Inc. in Michigan has increased its loan-loss provision by 435% for the fourth quarter, leading to a loss of $5.8 million for the quarter rather than earnings of $4.2 million as previously reported.

For the second time, BankAtlantic Bancorp Inc. in Fort Lauderdale, Fla., has extended an offer to buy its trust-preferred securities back from its holders.

The Federal Deposit Insurance Corp. has issued a prompt corrective action order against Frontier Bank of Everett, Wash., giving it until April 15 to merge with another institution or sell shares or obligations to become at least "adequately capitalized."

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We must enhance our system of supervisory checks and balances to ensure that more eyes, not fewer, are focused on the activities of our financial institutions.

Ficalora's outlook on the Westbury company's prospects is bullish, to say the least. He said the next three years could be the most promising ever for doing what NYCB does best — buying other banks and using their deposits to fund its main business of lending money to the owners of rent-controlled apartments in New York.

As Congress moves to enact a bill this week that would kill government subsidies for private student lenders, companies that relied on Uncle Sam must dramatically reposition themselves to stay competitive, observers said Monday.

Navy Federal Credit Union is offering no-down-payment mortgages — which have become difficult to obtain these days — to its members nationwide, citing "opportunities in the current market."

Citizens South Banking Corp. of Gastonia, N.C., has raised $15 million to help finance its takeover of the failed Bank of Hiawassee.