Holly Schreiber will step down Wednesday as chief financial officer of 1st Financial Services in Hendersonville, N.C. She will remain as a consultant while its sale to First Citizens BancShares (FCNCA) is being completed.

Capital levels at SouthBank in Palm Beach Gardens, Fla., have dropped below a minimum required by regulators.

Five Star Credit Union in Dothan, Ala., has agreed to buy Flint River National Bank in Camilla, Ga.

TowneBank (TOWN) in Portsmouth, Va., has converted all of its Series A preferred stock into common stock.

Regulators have lifted a seven-year-old enforcement action against CIB Marine Bancshares (CIBH) in Waukesha, Wis.

The American Bankers Association has endorsed the mortgage unit of SunTrust Banks (STI) as an outlet for banks to sell mortgage loans.

Banks hit another earnings record in the second quarter, but there were other pieces of good news tucked away inside the Federal Deposit Insurance Corp.'s recently released Quarterly Banking Profile as well. From better credit quality to a falling number of "problem" banks, the industry had a lot to celebrate — even if it must also face the grim prospect that falling loan loss provisions won't boost earnings much longer.

Marie Blake now oversees the $13.1 billion-asset company's regulatory compliance department, it said Tuesday.

Pacific Commerce Bank (PFCI) has completed corrective steps mandated by the Federal Reserve Bank of San Francisco.

Federal prosecutors in Chicago have filed charges against 10 individuals tied to an alleged vehicle financing scheme that cost Fifth Third Bancorp (FITB) and 19 other lenders more than $56 million.

Doomsayers conveniently forget that the business case for introducing debit cards was one of cost avoidance for the banks, not revenue.

Douglas Manditch, chairman and chief executive at Empire National Bank, believes community banks are being squeezed by "overzealous" regulation and are feeling pressure to sell.

The insurer Genworth Financial has completed the $412.5 million sale of its wealth management operations.

Banks can still use properly tailored arbitration provisions to cut off class actions. Provisions should be explicit; silence is not a bank's friend when it comes to arbitration agreements.

Independent Bank in Ionia, Mich., has exited the Troubled Asset Relief Program.

A judge has approved Anchor Bancorp Wisconsin's plan to file for bankruptcy.

ALEXANDRIA, Va. – Pentagon FCU announced this morning it has signed a deal to link to 167 ATMs located in Rite Aid stores in Maryland, Virginia and greater Washington D.C., part of a broader ATM co-branding strategy.

When it agreed to be sold to Stifel last year, KBW was painted as a victim of weak bank M&A and the transformation of investment banking. Things are looking up now as the combined company ranked as the top advisor in four of six U.S. regions at midyear.

Royal Bank of Canada said Chairman David O'Brien plans to step down at yearend, and that director Kathleen Taylor will succeed him. The Toronto bank also said that Mark Hughes will succeed Chief Risk Officer Morten Friis when Friis retires on Jan. 10.

Student and auto lending surged in the 12-month period ended in July, according to an Equifax report released Thursday.