A former executive at a Norfolk, Va., bank has been sentenced to eight years in federal prison for his role in the fraud that led to the bank's collapse.

Several political candidates have begun accepting bitcoins for campaign contribution—but the future of this practice hinges on a Federal Election Commission decision coming by October 28.

FARMINGDALE, N.Y. – Teachers FCU opened its 25th branch – and first in Nassau County – in Merrick, signaling a new marketing push for New York’s second-largest credit union.

FAIRBORN, Ohio – Wright-Patt CU has acquired the 137,000-square-foot former Computer Sciences Corp. building in nearby Beavercreek for $22.75 million and plans to relocate its headquarters there.

The $18 billion-asset company said late Tuesday it has acquired certain assets and liabilities from Surety Financial Services in Sherman Oaks, Calif. The companies did not disclose the terms or specify the assets that were transferred.

The $2 billion-asset company said Tuesday that it had fully redeemed the $20.5 million in preferred shares issued through the program. Park Sterling funded the redemption with a payment from its bank.

Bridge Bancorp (BDGE) in Bridgehampton, N.Y., is planning to raise at least $25 million in a public stock offering to support its purchase of FNBNY Bancorp in Merrick, N.Y.

The $356.6 million-asset company issued 2.8 million shares of common stock to investors at a purchase price of $1.00 per share.

David Matson will serve on the board's asset and liability committee and on its newly created risk management committee, according to First BanCorp's Tuesday filing with the Securities and Exchange Commission.

James Mackey will become executive vice president and CFO of the government-sponsored enterprise the week of Nov. 11, Freddie announced Monday.

With nearly 140 banks and a forecast for sluggish growth in the next decade, the city should be primed for consolidation. One big problem: few bankers seem interested in selling.

Carol Galante, the Federal Housing Administration's commissioner, sought to clarify the agency's plans for a government shutdown on Tuesday, emphasizing that it will continue to endorse single-family loans during the shutdown in contrast to earlier reports.

The $656 million-asset company will sell up to $25 million of common stock in a public offering, according to a Monday filing with the Securities and Exchange Commission.

The Federal Reserve Board has ordered Trinity Capital Corp. in Los Alamos, N.M., to improve its capital position.

JPMorgan Chase (JPM) is launching a new program called Mission Main Street Grants to support small businesses, with help from Google.

Timothy Pawlenty, president and chief executive of the Financial Services Roundtable, said Tuesday that housing finance reform is unlikely to pass until after the 2014 mid-term elections.

Internet-based, short-term lenders have various routes for setting up business, but most of their options expose them to potential legal challenges.

A federal court has ruled that state regulators have the authority over online lenders that operate from Native American land.

August's reading provides more proof that the slowdown in mortgage activity is curbing overall growth in the banking industry.

Bank of America has officially finished swallowing Merrill Lynch. The country's second-largest bank on Tuesday merged its Merrill subsidiary into its main unit, almost five years after buying the investment bank at the height of the financial crisis.