Summit Financial Group Inc. in Moorefield, W.Va., said Monday that it has taken a $1.5 million impairment charge against its fourth-quarter earnings because it cannot accurately project the recovery period for preferred securities stock it owns that have declined in value.

Provident Bankshares Corp. of Baltimore has started a pilot program to win more business from the Washington area’s growing Hispanic market.

Cathay General Bancorp may be close to clinching its hard-fought deal for Great Eastern Bank in New York City.

Texas' banking commissioner has asked state-chartered banks there to consider adjusting loan terms and extending maturities for borrowers affected by the recent wildfires.

Few banking companies have the kind of war chest Hudson City Bancorp of Paramus, N.J., does.

James M. Anderson has been promoted to chief financial officer of the $1.6 billion-asset MainSource Financial Group Inc. of Greensburg, Ind.

Marquette National Corp. of Chicago has agreed to buy Hemlock Federal Financial Corp. of Oak Forest, Ill., for about $51.3 million in cash.

It was a family affair when First Citizens Financial Corp. of Mason City, Iowa, bought Kanabec Credit Co. of Mora, Minn., about 200 miles away.

Banks and thrifts structured as S corporations could suddenly start looking more attractive to potential buyers.

MIDWEST

Bank of East Asia, the largest independent bank in Hong Kong, is beefing up its U.S. operations with a deal to buy the $87 million-asset National American Bank in San Francisco.

At first glance 2005 appears to have been another banner year for mutual holding company conversions.

On Dec. 9, American Banker published an opinion article defending Sovereign Bancorp Inc.'s effort to sell an equity stake and use the proceeds to buy a banking company. The article, "Attacks on Sovereign Unfair, Short-Sighted," was written by Ben A. Plotkin, chairman of investment bank Ryan Beck & Co., which is owned by BankAtlantic Bancorp Inc.

SNB Bancshares Inc. of Sugarland, Tex., said it would sell $205 million of low-yield securities, use the proceeds to pay down borrowings, and take a fourth-quarter charge of $5.3 million after taxes.

RCB Holding Co. of Claremore, Okla., near Tulsa, has a deal that would bring it into other Oklahoma markets.

University Bancorp of Ann Arbor, Mich., announced Friday that it had it has created a unit that will focus on providing banking services to Muslims.

After failing to win Federal Reserve Board approval of its application to open a bank in New London, Conn., Southern Connecticut Bancorp Inc. has withdrawn the bid and decided to open a branch there instead.

Two California rivals, UCBH Holdings Inc. and Cathay General Bancorp, have both gained regulatory approval to buy Great Eastern Bank of New York - but the betting is on Cathay.