Cherokee Bank in Canton, Ga., must boost its capital and reduce its problem assets to satisfy a regulatory order.

Imagine looking up at seven cents on the dollar.

As Jay S. Sidhu takes the helm of a small bank in the Philadelphia suburbs, he aims to recreate some of what he achieved at Sovereign Bancorp Inc.

South Financial Group Inc. is about to find out just how much of the market's confidence the banking industry has regained.

New Century Bank in Phoenixville, Pa., said Thursday that it has appointed Jay S. Sidhu as its chairman and chief executive officer.

MIDWEST

More than a year after going public, Danvers Bancorp Inc. has agreed to buy a nearby Massachusetts banking company in a deal that one analyst said would leave it with the capital to do more.

Silverton Bank's former customers are finding nature really does abhor a vacuum.

S&T Bancorp Inc. of Indiana, Pa., says cutting its dividend by roughly half will help it protect its capital and eventually jettison its government investment.

In recent months Congress, the Obama administration, regulators and the news media have rightfully joined the chorus of state regulators praising community banks for their role in stabilizing the financial services industry and the economy as a whole.

Ordered by regulators to boost capital levels immediately, Frontier State Bank in Oklahoma City has sold a chunk of its securities portfolio, returning it to well capitalized status.

Two California trade groups announced Monday that they have merged. The Independent Community Bankers of America said its California Independent Bankers merged with the Community Bankers of California to form a group named California Independent Bankers.

Two weeks after announcing it had withdrawn its application for a capital infusion from the Treasury Department, Hanmi Financial Corp. in Los Angeles said it has struck a deal for an infusion from a Korean firm.

Troubled banks usually do not call attention to themselves, but Union Bank of Gilbert, Ariz., had little left to lose.

It's plan B for the organizers of Xenith Corp. in Richmond, Va. — and that B now stands for buy.

In its waning hours on June 5, Bank of Lincolnwood sent a state judge an SOS.

Some of the Small Business Administration's most crucial partners are the thousands of lenders that underwrite billions of dollars in SBA loans every year. Together, we are helping America's small businesses keep their doors open while growing and creating jobs.