Applications for adjustable-rate mortgages in late June rose to the highest level since 2008 after the Federal Reserve sent fixed rates surging by signaling it may curtail bond buying credited with pushing borrowing costs to the cheapest on record.

Profit fell at New York Community Bancorp (NYCB) in Westbury, N.Y, as mortgage banking revenue dropped sharply last quarter.

PatientFocus, a medical billing company that deals with patient-pay collections before bad debt, reached an agreement with specialty medical product distributor Choice Medical Inc.

New executives are effecting an IT reawakening at Orrstown Bank to prepare it for growth. Projects being tackled include: enlarging the IT team, outsourcing the core, replacing the email system and redoing the digital channels.

BankUnited (BKU) in Miami Lakes, Fla., added interest income and beat earnings estimates as it expanded into New York City last quarter.

Asset management fees helped push UMB Financial in Kansas City, Mo., to a higher quarterly profit.

The bank isn't just a place to store your money. It's a place to store your data under lock and key, but available to all those with permission to use it.

Berkshire Hills Bancorp in Pittsfield, Mass., and Community Bank System in DeWitt, N.Y., have struck deals to buy branches from Bank of America.

Trustmark in Jackson, Miss., says it is starting to realize the benefits of its acquisition of BancTrust Financial Group.

German American Bancorp in Jasper, Ind., has agreed to buy United Commerce Bancorp in Bloomington, Ind.

A new report from the Tarp inspector general says the Treasury Department failed to analyze its own data to determine which borrowers were most at risk of losing their homes to foreclosure after receiving government support.

HOOVER, Ala. – Alabama Telco Credit Union has opened a new branch in Greystone in a former Superior Bank building.

BRISTOL, Conn. – Nutmeg State FCU opened a branch in a new Walmart Neighborhood Market, the first credit union in the area to have an in-store branch.

The $17 billion-asset company's second-quarter earnings rose 2% from a year earlier, to $40.6 million. Per-share earnings of 21 cents beat the estimates of analysts polled by Bloomberg by 2 cents.

Executives of PacWest had become frustrated with the shortcomings of traditional, deposit-heavy banks when seeking M&A targets. They reached instead for the prospect of loan growth provided by commercial financier CapitalSource.

The House Financial Services Committee was expected to approve a Republican-backed bill to remove government support in a new housing finance system, but senators continue to back a more bipartisan approach that preserves a federal backstop.

The Consumer Financial Protection Bureau filed a federal complaint Tuesday against Castle & Cooke Mortgage for giving bonuses to loan officers who allegedly steered consumers into mortgages with higher interest rates.

Discover Financial Services (DFS) reported quarterly earnings Tuesday of $602 million, up 15% from the same period a year earlier, as gains in various lending segments partially offset losses in the company's payments business.

LendProtect announced Tuesday a partnership with Yodlee Interactive to create a new service designed to offer U.K. lenders a 90-day view of their prospective customers' bank account data, including deposits and payments.

Providing financing to solar farms is 'socially responsible' and a good way to expand in leveraged loans, its CEO says. Its in-house experts came via an acquisition.