Fannie Mae and Freddie Mac are ignoring billions of dollars in potential losses on delinquent loans as they take three years to adopt a new accounting system, a government auditor said in a letter made public today.

Independent Bank (IBCP) in Ionia, Mich., plans to raise up to $86 million through a common stock offering.

Capital One Financial Corp. (COF) has agreed to buy Beech Street Capital, a mortgage firm that specializes in government-insured and multifamily loans.

BNCCorp (BNCC) in Bismarck, N.D., named Timothy Franz its permanent chief executive less than a month after he become interim CEO.

Delmar Bancorp in Salisbury, Md., has worked out an arrangement to redeem preferred stock from an outside investor.

Donald Wilson, chairman of Community Financial Shares (CFIS) in Glen Ellyn, Ill., has been appointed the company's president and chief executive.

The Office of the Comptroller of the Currency took six enforcement actions and ended several others last month, the agency said Friday.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

The combination of Mercantile and Firstbank is expected to break the bank M&A logjam in Michigan. The combined company will be on the lookout for more deals, executives say.

A Colorado agricultural lender argues that the name of Green Dot's mobile bank account is too similar to its own for the prepaid card marketer to be awarded a trademark.

Bitcoin users who help maintain the digital ecosystem's official record of transactions may soon find themselves required to register with the Financial Crimes Enforcement Network as administrators of the alternative currency.

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A federal judge raised the possibility that banks will have to repay billions of dollars to merchants, but legal experts say the court lacks the authority to enact such an order.

Merrill Lynch & Co., the 99-year-old firm known for its "thundering herd" of brokers pitching stocks to Main Street, may cease to exist as a legal entity more than four years after being acquired by Bank of America Corp.

In a move aimed at reducing its cost of funds, Eastern Virginia Bankshares (EVBS) is retiring debt owed to the Federal Home Loan Bank System.

Zions Bancorp. (ZION) has promoted an executive in its real estate division to executive vice president and chief credit officer.

Regulators asked a federal court Thursday to reject a bid by U.S. Bank to dismiss a lawsuit over its alleged role in Peregrine Financial's embezzlement scandal.

The Mississippi companies have received all the necessary approvals and expect to finalize the deal Sept. 1, they announced Friday.

Doral Financial in Puerto Rico is aiming its philanthropic work at women entrepreneurs to improve the fortunes of its community and its own.

Anchor BanCorp Wisconsin has settled fraud charges brought by the Securities and Exchange Commission in connection with one of its 2009 quarterly reports.