Farmers National Banc Corp. in Canfield, Ohio, has agreed to buy National Bancshares in Orrville, Ohio.

At a hearing Tuesday, GOP lawmakers hammered FHFA Director Mel Watt for four hours over his recent decisions to allow Fannie Mae and Freddie Mac to buy loans with lower downpayments and provide money to two affordable housing trust funds.

Zions Bancorp. on Monday reported improvement in its net interest margin and noninterest revenue, along with progress in regards to the Volcker Rule and its funding mix. But at Zions, as at other banks, progress was overshadowed by concerns over falling oil prices.

FirstMerit in Akron, Ohio, reported higher quarterly earnings as cost controls compensated for a decline in interest income.

Carroll Bancorp in Sykesville, Md., has raised $5.1 million through a private placement of its common stock.

Liberty Bank & Trust in New Orleans has received regulatory approval to buy First Tuskegee Bank in Alabama, more than a year after the deal was first announced.

South State in Columbia, S.C., reported higher quarterly profits thanks to lower costs and higher fee-based income.

Homeowners associations seeking unpaid dues are seizing on a court decision allowing them to foreclose on properties ahead of banks, and the FHFA is litigating to defend Fannie and Freddie mortgages. Private lenders, meanwhile, are trying to keep the problem from spreading to more states.

WASHINGTON — The Consumer Financial Protection Bureau issued a bulletin Tuesday warning financial institutions about entering into agreements with third parties that share or hide information related to regulatory exams.

Old National Bancorp in Evansville, Ind., has agreed to buy Mutual Underwriters Insurance in Louisville, Ky.

The traditional method of measuring mortgage denial rates is fundamentally flawed and can produce mistaken conclusions about access to credit.

In Russia, according to a report from The Moscow Times, an alarming debt collection trend involves collectors seizing household pets from debtors who have defaulted on their loans.

South Dakota's Senate Commerce and Energy Committee was scheduled to hold a hearing Tuesday on a state Revenue Department proposal to open a state debt collection office.

Peer-to-peer and institution-to-small business loan marketplace Funding Circle launched a new fractional loan marketplace today, the San Francisco company announced.

Prosper Marketplace, the online lending platform that arranges funding for unsecured consumer loans, announced its first takeover Tuesday, paying $21 million to buy American HealthCare Lending. The target offers loans for elective medical procedures.

Synovus Financial in Columbus, Ga., reported a sharp rise in fourth-quarter profit on loan growth, lower expenses, improved credit quality and other factors.

Commerce Bancshares in Kansas City reported lower quarterly profit on higher expenses.

The traditional method of measuring mortgage denials is fundamentally flawed. Evaluating not just the quantity but also the quality of mortgage applicants can give a clearer picture of actual denial rates.

Wells Financial in Wells, Minn., has installed an interim leader after the resignation of its chief executive.