The Capital Asset Pricing Model’s value is debatable in normal times. If misapplied in today’s ultralow interest rate environment, it can severely overvalue banks and excuse poor operating performance.

CommunityOne Bancorp (COB) in Asheboro, N.C., reported its first quarterly profit since 2008.

Mortgage servicer Ocwen Financial (OCN) in Atlanta missed Wall Street's earnings estimates because of delays in integrating servicing rights portfolios it acquired.

EverBank Financial Corp. (EVER) in Jacksonville, Fla., has agreed to sell its default mortgage servicing platform, along with more than $20 billion in rights, to a subsidiary of Walter Investment Management.

The $1.7 billion-asset company submitted a shelf registration with the Securities and Exchange Commission on Wednesday that would allow it to sell up to $150 million of equities or debt.

Santander Bank, which recently changed its name from Sovereign Bank, casts Robert De Niro as an annoying moviegoer in an advertisement for its new checking account that offers a monthly bonus of $20.

The Securities and Exchange Commission recently lifted its ban on advertising private stock offerings, and it's just in time for community banks that are struggling to attract money from sophisticated investors to bolster capital and avoid selling out to other banks.

Cullen/Frost Bankers (CFR) in San Antonio reported a small downtick in quarterly profit after announcing a merger that would expand its business in the Texas energy sector.

Baylake Corp. (BYLK) in Sturgeon Bay, Wis., has been approved to join the Nasdaq.

Provident New York Bancorp (PBNY) in Montebello, N.Y., reported strong earnings in the quarter that ended Sept. 30 thanks to loan growth and a major decrease in merger-related expenses.

First Financial Holdings (SCBT) in Columbia, S.C., reported a 26% rise in quarterly profit after completing a transformative M&A deal.

Atlantic Coast Financial (ACFC) in Jacksonville, Fla., narrowed its losses during a quarter of management upheaval.

M&A is time-consuming and expensive, and it’s especially painful for small banks like First Scottsdale, an aspiring consolidator in Arizona, when their deals fall apart.

First Data Corp., a global electronic commerce and payment processing firm, announced Tuesday that it has acquired Perka, provider of a smart loyalty program.

The $12.8 billion-asset company plans to offer $50 million of common stock and up to $100 million of perpetual preferred stock, it announced Monday.

A breakdown of M&A announcements in the financial services industry for the week ended Oct. 26.

Chemical Financial Corp. (CHFC) in Midland, Mich., said Monday that its third-quarter earnings rose 14% from the same quarter last year, to $15 million, thanks largely to revenue gains generated by its acquisition of 21 Independent Bank (IBCP) branches in December 2012.

Carrollton Bancorp in Lutherville, Md., is changing its name to Bay Bancorp.

Corporate default rates and other conditions in U.S. credit markets can only worsen in the current interest rate environment, according to a quarterly survey of the International Association of Credit Portfolio Managers.

LCNB Corp. (LCNB) in Lebanon, Ohio, has agreed to buy Eaton National Bank & Trust in Eaton, Ohio, for $24.8 million in cash.