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State Employees' Credit Union in Raleigh, N.C. has announced that Michael Lord will succeed longtime CEO Jim Blaine as president and CEO of the $33 billion CU.

Quarterly profit at CIT Group plunged after the in Livingston, N.J., company recorded $167 million in charges tied to its discontinued reverse-mortgage servicing unit.

Fifth Third Bancorp in Cincinnati on Thursday reported higher quarterly profit driven by an increase in construction loans.

The former C1 Financial chief, expected to play a critical role at Bank of the Ozarks, resigned just a week after his company's sale. Thanks to a lengthy noncompete, it could take years to determine his next move.

First Citizens BancShares in Raleigh, N.C., reported higher quarterly profit that reflected a couple of one-time gains.

SIU credit union announced Mike Lantrip as the new President/CEO of the $320 million CU effective Aug. 1. Lantrip replaces interim President/CEO William S. Capie.

Brent Beardall, who has been with Washington Federal since 2001, was named president of the $14.8 billion-asset company and its primary banking unit and retains his job as chief banking officer.

United Community Banks in Blairsville, Ga., reported higher quarterly gains spurred by fee revenue.

Valley National Bancorp in Wayne, N.J., reported higher quarterly profit because of loan sales and increases in other fees.

BOK Financial in Tulsa, Okla., reported lower quarterly profit that reflected a still-elevated loan-loss provision.

Starting in 2010, regulators warned banks about the risks associated with rising interest rates. The problem has turned out to be just the opposite: persistently low rates.

Banner Corp. in Walla Walla, Wash., reported higher quarterly earnings as it continued to benefit from a recent acquisition.

First Interstate BancSystem in Billings, Mont., reported higher quarterly profit tied to loan growth and increased fee income.

Zions Bancorp. in Salt lake City posted higher quarterly earnings after cutting expenses and making more loans.

Three CUs beef up their loan departments and other CU advocates in the news.

Deposit growth and loan sales gave Flagstar Bancorp's second-quarter profit a lift. The $13.7 billion-asset company said its net income in the three months rose 2.1% to $47 million, or 66 cents a share, compared with last year's second quarter.

Credit unions make their mark the Republican National Convention, dig deep for kids and more.

KeyCorp is on pace to complete its biggest acquisition to date next week. The company will face intense scrutiny to deliver promised financial returns as quickly as possible.

The costs to extend buyouts to employees cut into Trustmark's second-quarter profit, as did a drop in mortgage banking.

The combination of higher regulatory expenses andreduced income from interchange fees is taking a toll on the profitability of banks with $10 billion to $50 billion of assets.